How Much Did a Data Breach Cost in 2020?
According to IBM Security and Ponemon Insitute’s Cost of a Data Breach Report 2020, there were more than 500 organizations that suffered from small to big data breaches. The average total cost of a data breach was USD 3.86 million, and the most expensive country to suffer from a data breach was the United States, with more than USD 8.64 million on average.
As we witness the shift towards remote access environments for adjustments, we must take serious actions in order to prevent our priceless data and the users and customers who own and have rights over them.
Also, since one-third of data breach costs occur more than a year after a data breach, organizations should also realize that the costs accrue more than just once in the first year. Moreover, the report showed that there was a 4.9 percent increase over the 2018 lifecycle of 266 days for the average breach lifecycle days. Additionally, Customer PII data per record costs were the highest in malicious attacks (52%) than any other types of breaches.
It’s important to understand that the faster you identify a breach, the lower the costs. If the breach’s lifecycle is greater than 200 days, it costs around USD 1.2 million more to recover from the breach.
How Can I Prevent My Company from Data Breaches?
First of all, the most efficient way to prevent your organizations from data breaches is the utilize quality encryption technology to protect any critical data. In order to successfully encrypt your database, the encryption technology needs to be tailored and customized to fit the operating environment of each organization.
Penta Security’s D’Amo classifies the IT system into each layer to apply the optimized database encryption solution. Depending on the operation environment, D’Amo finds the best solution to guarantee both performance and security without compromise. It also provides the optimized solution for secured encryption key management, which is considered to be a key element for security in this day and age.
No.1 DB Encryption Solution in South Korea
D’Amo KE is the OS level volume encryption solution of D’Amo, which is the No. 1 DB encryption solution in Korea.
In addition, it interworks with the SG-KMS, which is the encryption key management server that satisfies the security requirements of DB encryption products for the National Intelligence Service, providing a more secure key management service. Contact Penta Security for more information and consult here today.
Check out Penta Security’s product lines:
Web Application Firewall: WAPPLES
Database Encryption: D’Amo
Identity and Access Management: ISign+
Car, Energy, Factory, City Solutions: Penta IoT Security