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Featured Article

September 28, 2017

What Will the Average Cost of a Data Breach be in 2018?

By now it’s no secret that data breaches are increasing in both volume and intensity each year. What’s especially troubling, though, is that the average cost of a data breach is increasing annually as well.  

For example, here is a breakdown of the average cost of a single breached record over the last several years:

  • 2013: $188
  • 2014: $201
  • 2015: $217
  • 2016: $221
  • 2017: $225

Here is a look at the average total organizational cost of a data breach during this same time period:

  • 2013: $5.40 million
  • 2014: $5.85 million
  • 2015: $6.53 million
  • 2016: $7.01 million
  • 2017: $7.35 million

So, what will the average cost of a data breach be by this time next year?

Here at Apex Technology Services, we are predicting that the cost of each stolen record may skyrocket to $250 while the total organizational cost of a data breach could get as high as $8 million.

This is very troubling, especially when considering that it’s now easier and more affordable than ever for hackers to access powerful cyberweapons. Earlier this year, for instance, many of the NSA’s most powerful hacking tools leaked online. And since this major leak, we have already seen an explosion in cyberextortion via ransomware attacks. This trend will undoubtedly continue into next year and beyond.

What’s more, new avenues are constantly appearing on the dark net that enable the sale of such cyberweapons, as well as stolen consumer data. As we explained in a recent article, the dark net is a small part of the deep Web (or the hidden part of the Internet) that is purposely inaccessible over browsers like Safari, Chrome and Firefox. Each time a dark net marketplace is shut down, another one appears. Law enforcement is having a very difficult time controlling it, which makes it a safe haven for cybercriminals to exchange harmful software and information.

Make no mistake about it: Hackers want your data, and will go to great lengths to try and obtain it. No organization today is safe from cybercrime.

Apex Technology Services can work with your organization to protect your critical infrastructure, providing your business with the technology and guidance that it needs to keep hackers out of your network.

A new breed of hacktrepeneurs has awoken and they have little to fear and everything to gain by infecting as many companies as possible and extorting money from them. Apex Technology Services stands ready to protect your company regardless of whether it’s located in New York CityWhite Plains, New York; Connecticut; Australia; Europe; or anywhere else. Our full suite of cybersecurity and IT support services is at your disposal, enabling you to spend less time worrying about and more time growing your business.

To ensure your security, consider one of our most popular services — Auditing & Documentation — which pinpoints vulnerabilities in your infrastructure, process flow and internal security procedures.


 



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