Data breach cost increasing in UK

2010-01-29

The cost of each lost customer record in the UK cost on average £64 in 2009, representing a seven per cent rise on the previous year's figure of £60, a study has shown.

According to the 2009 Annual Study: UK Cost of a Data Breach report, carried out by the Ponemon Institute and sponsored by PGP Corporation, UK public organisations had to deal with average costs of £59 per lost record last year.

This is compared to the cost of each lost record in the commercial sector, which stood at £69 per record.

"In the commercial sector the costs associated with customer churn and attracting new customers are particularly acute, but our research suggests these firms are getting better at detection," commented Dr Larry Ponemon, chairman and founder of the Ponemon Institute.

Meanwhile, data breach incidents cost US companies $204 (£125.77) for every compromised customer record in 2009, according to another Ponemon Institute study, sponsored by PGP Corporation.

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