A report from IBM and the Ponemon Institute found an average data breach cost Canadian companies $5.78 million, IT World Canada reports. The study found the number was a 4 percent decrease from last year’s study. Canada’s average data breach cost was the second highest in the world, only behind the U.S. at $7.35 million. Overall, Canada was above the world average for data breach costs at $3.62 million. The study found Canadian companies containing a breach in less than 30 days were able to save $1.79 million compared to companies taking more than a month.
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