In general, data breaches are becoming increasingly costly the world over as new data protection regulations favoring consumers are adopted, and data subjects become wary of companies that are affected by data breaches. According to the 2020 Cost of a Data Breach Report by Ponemon Institute, the global total cost of a data breach averaged USD 3.86 million (EUR 3.26 million). The country and industry of the organization are important factors when it comes to calculating costs: the United States is the most expensive country in which to experience a data breach, while healthcare has the highest industry cost.
Read our data protection tips for the healthcare industry.