Cost Of UK’s Data Breaches Up 68 Per Cent In 5 Years

A new report has been released by Symantec looking into the average cost of a data breach.

When it comes to UK companies, that cost has risen considerably, indeed it's up 68 per cent over the last five years. The study, however, used a fairly small sample of 36 firms, finding that the average cost of a breach had risen every year over the last half a decade.

That cost now stands at £79 per record, V3.co.uk reports, which is up £8 from 2010.

The primary cause of data spills is negligence, a third of which are caused by employee mistakes such as leaving laptops or USB sticks on trains, in public places and the like. Malicious attacks are the other main cause of security breach, with a 2% increase this year on the amount of businesses being targeted by cyber-criminals.

Francis deSouza, group president, Enterprise Products and Services, Symantec, commented: "This year's report shows that insiders continue to pose a serious threat to the security of their organizations. This is particularly true as the increasing adoption of tablets, smartphones and cloud applications in the workplace means that employees are able to access corporate information anywhere, at any time."

He added: "It is essential for companies to put the proper information protection policies and procedures in place to counterbalance these new realities."