NEW DELHI: Data breaches could set back Indian companies by as much as Rs 11 crore this year, a 12.3 per cent increase from last year, says a new report by tech giant IBM released on Tuesday. The average cost of a data breach globally is expected to decline by 10 per cent this year to $3.62 million (Rs 23.35 crore) compared to last year.
The study, conducted by Ponemon Institute, found the average per-capita cost of data breach rose from Rs 3,704 in 2016 to Rs 4,210 in 2017.Around 40 per cent of the Indian firms reported to have experienced data breach as a result of malicious or criminal attacks. “Services, financial, industrial and technology companies had a per capita cost well above the mean of Rs 4,210, while public sector, research and transportation firms had a per capita cost well below the mean.”
According to Kartik Shahani, IBM India/South Asia Integrated security leader, the IBM study clearly outlines the rapidly changing threat scenario through a significant rise in both number and sophistication of breaches. Securing data on cloud has become a top priority for companies, he added.