Data breaches in the UK costing organisations £2.99 million on average

Data breaches impacting UK organisations in the past year inflicted losses of up to £2.99 million to them on average, be it in terms of legal costs, technical costs, regulatory costs or costs incurred due to loss of brand equity, customers, and employee productivity.
A new study from IBM Security has revealed that the cost of data breaches is rising steadily across the world, with organisations based in the United States incurring the highest losses (£6.6 million on average per data breach) and those in the UK suffering losses of up to £2.99 million to every data breach incident.
The average cost of data breaches in the UK rose by almost 10 percent compared to 2018 even though the average size of such breaches increased by only 3.6 percent. The per capita cost per lost of stolen record in the UK now stands at £119.