A study conducted by IBM Security and the Ponemon Institute found the average data breach cost companies $3.86 million, up 6.4 percent from last year’s analysis, VentureBeat reports. For the first time, the study covered the costs of “mega breaches” — incidents involving between 1 million to 50 million records. The costs of those breaches ranged from $40 million to $350 million. The study polled 500 companies that suffered a breach, looking at various factors impacting costs, such as lost business, loss of reputation, notifications, legal and regulatory requirements, and technical investigations and recovery.
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