{"id":14163,"date":"2021-11-09T00:00:00","date_gmt":"2021-11-09T07:00:00","guid":{"rendered":"https:\/\/www.syteca.com\/blog\/en-blog-cost-of-a-data-breach\/"},"modified":"2026-03-13T08:32:29","modified_gmt":"2026-03-13T15:32:29","slug":"cost-of-a-data-breach","status":"publish","type":"post","link":"https:\/\/www.syteca.com\/en\/blog\/cost-of-a-data-breach","title":{"rendered":"How to Calculate the Cost of a Data Breach"},"content":{"rendered":"\n<p>A data breach is more than a cybersecurity failure; it\u2019s a financial liability that can reshape your organization\u2019s future. Calculating the financial cost of a data breach is a complex process that accounts for direct costs, indirect losses, and lost opportunities resulting from the incident. In this article, we demonstrate how to quantify the potential costs of data breaches and offer guidance on preventing them within your organization.<\/p>\n\n\n\n<p><strong>Key takeaways:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Data breaches now cost $4.45M on average, and their frequency continues to grow year over year.<\/li>\n\n\n\n<li>Healthcare, finance, pharma, energy, and industrial sectors experience the most expensive data breaches.<\/li>\n\n\n\n<li>Breach costs are driven by factors such as the type of compromised data, the number of affected individuals, breach duration, and your organization&#8217;s response readiness.<\/li>\n\n\n\n<li>You can calculate breach costs using methods such as activity-based costing (ABC) and the factor analysis of information risk (FAIR).<\/li>\n\n\n\n<li>Implementing zero trust architecture, protecting remote access, and deploying detection tools helps limit the scope of data breaches and financial damage.<\/li>\n<\/ul>\n\n\n\n<h2  class=\"wp-block-heading\">What is a data breach?<\/h2>\n\n\n\n<p>As <a href=\"https:\/\/www.nist.gov\/itl\/smallbusinesscyber\/cybersecurity-basics\/glossary#:~:text=D-,Data%20breach%C2%A0,-An%20incident%20that\" target=\"_blank\" rel=\"noreferrer noopener\">defined by NIST<\/a>, a data breach is \u201can incident that involves sensitive, protected, or confidential information being copied, transmitted, viewed, stolen, or used by an individual unauthorized to do so.\u201d<\/p>\n\n\n\n<p>Data breaches usually affect the financial, medical, or personally identifiable information of individuals and organizations. A leak of such information can lead to financial losses \u2014 fines and penalties, remediation costs, loss of potential profits, investments in new security measures, loss of opportunities costs, and many other negative consequences.&nbsp;<\/p>\n\n\n\n<p>The average total cost of a data breach keeps growing, reaching an all-time high of $4.45 million in 2023.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"825\" height=\"486\" src=\"https:\/\/syteca_site_uploads.storage.googleapis.com\/wp-content\/uploads\/2024\/02\/20223258\/graphics-1-How-to-Calculate-the-Cost-of-a-Data-Breach.svg\" alt=\"Average total cost of a data breach\" class=\"wp-image-39243\"\/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>The frequency of data breaches is also on the rise. According to the <a href=\"https:\/\/www.idtheftcenter.org\/publication\/q3-data-breach-2023-analysis\/\" target=\"_blank\" rel=\"noreferrer noopener\">2023 Q3 Data Breach Analysis<\/a> by Identity Theft Research Center, U.S. organizations reported 2,095 data breaches by October 2023, more than the total number of breaches that occurred over the entire span of 2022 &#8211; 1,774.&nbsp;<\/p>\n\n\n\n<p>Now, let&#8217;s delve into industries most affected by these data breaches.&nbsp;<\/p>\n\n\n\n<h2  class=\"wp-block-heading\">Which industries suffer the most from data breaches?<\/h2>\n\n\n\n<p>Ponemon Institute in the <a href=\"https:\/\/www.ibm.com\/security\/data-breach\" target=\"_blank\" rel=\"noreferrer noopener\">2023 Cost of a Data Breach Report<\/a> analyzed data from 553 organizations affected by data breaches worldwide. The report reveals the <a href=\"\/en\/blog\/5-industries-most-risk-of-data-breaches\" target=\"_blank\" rel=\"noreferrer noopener\">top 5 vulnerable industries<\/a> that experience the costliest data breaches &#8211; healthcare, financial, pharmaceutical, energy, and industrial organizations experience the costliest data breaches.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"825\" height=\"585\" src=\"https:\/\/syteca_site_uploads.storage.googleapis.com\/wp-content\/uploads\/2024\/02\/20223401\/graphics-2-How-to-Calculate-the-Cost-of-a-Data-Breach.svg\" alt=\"5 industries with the highest average cost of a data breach\" class=\"wp-image-39253\"\/><\/figure>\n\n\n\n<p>Notably, the average cost of a data breach in the healthcare industry has grown 53.3% over the last three years, increasing more than $3 million from $7.13 million in 2020. Below, we explore the main reasons behind these data breaches and the increase in their cost across industries.&nbsp;<\/p>\n\n\n\n<h2  class=\"wp-block-heading\">What are the top causes of data breaches?<\/h2>\n\n\n\n<p>According to <a href=\"https:\/\/www.verizon.com\/business\/resources\/reports\/dbir\/\" target=\"_blank\" rel=\"noreferrer noopener\">Verizon\u2019s 2023 Data Breach Investigations Report<\/a>, 74% of breaches involve a human element. Besides employee negligence, data breaches involve external attackers accessing an organization&#8217;s network through stolen credentials, phishing, and other techniques.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"825\" height=\"358\" src=\"https:\/\/syteca_site_uploads.storage.googleapis.com\/wp-content\/uploads\/2024\/02\/20223509\/graphics-3-How-to-Calculate-the-Cost-of-a-Data-Breach.svg\" alt=\"Common causes of data breaches\" class=\"wp-image-39260\"\/><\/figure>\n\n\n\n<p><strong>1. Hacking.<\/strong> &nbsp;Organized cybercrime continues to be one of the most widespread causes of data breaches. Hackers aim to steal sensitive data and either sell it or use it for their own benefit. The most common methods of hacking include DDoS attacks, credential theft, use of backdoors, command and control attacks, and brute forcing.<\/p>\n\n\n\n<p><strong>2. Malware.<\/strong> Malicious software like ransomware, spyware, Trojans, and downloaders enables cybercriminals to obtain sensitive data or the credentials of trusted user accounts. Malware can be delivered to a user\u2019s computer via an email, messenger, compromised website, or compromised device.&nbsp;<\/p>\n\n\n\n<p><strong>3. Social engineering.<\/strong> This type of malicious activity is aimed at obtaining user credentials or other sensitive information without hacking. It often involves impersonating trusted parties to trick people into giving up sensitive information or taking harmful actions. Common forms of social engineering include phishing, email compromise, phone calls, and pretexting.&nbsp;<\/p>\n\n\n\n<p><strong>4. <\/strong><a href=\"\/en\/blog\/how-prevent-human-error-top-5-employee-cyber-security-mistakes\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Human error<\/strong><\/a>. People within organizations may send emails to the wrong recipients, <a href=\"\/en\/blog\/preventing-data-leakage-via-chatgpt\" target=\"_blank\" rel=\"noreferrer noopener\">leak data through ChatGPT<\/a>, upload sensitive information to public cloud storage, or misuse their privileges. The average annual cost to remediate incidents caused by negligent insiders is $7.2 million according to the 2023 Cost of Insider Risks Global Report by Ponemon Institute.<\/p>\n\n\n\n<p><strong>5.<\/strong> <a href=\"\/en\/blog\/insider-threat-definition\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Insider attacks<\/strong><\/a>. This type of attack is caused by a user with legitimate access to sensitive data: a disgruntled employee, a <a href=\"\/en\/solutions\/third-party-vendor-monitoring\" target=\"_blank\" rel=\"noreferrer noopener\">third-party vendor<\/a>, or a malicious inside agent. According to recent <a href=\"\/en\/blog\/insider-threat-statistics-facts-and-figures\" target=\"_blank\" rel=\"noreferrer noopener\">insider threat statistics and trends<\/a>, insiders pose a greater risk than external attackers.<\/p>\n\n\n\n<p>Moreover, insiders&#8217; actions can stay unnoticed and silently harm the organization for a long time because insiders usually know which security tools are deployed and how to overcome them. No wonder 74% of organizations feel vulnerable to insider threats, according to the <a href=\"https:\/\/www.cybersecurity-insiders.com\/portfolio\/2023-insider-threat-report-gurucul\/\" target=\"_blank\" rel=\"noreferrer noopener\">2023 Insider Threat Report<\/a> by Cybersecurity Insiders.<\/p>\n\n\n\n<p>Aside from these causes of data breaches, organizations may suffer from hacktivism, revenge on the company, and government espionage.<\/p>\n\n\n\n\t\t<div  class=\"block-feb2a63d-5b57-4781-91e9-45f6d46777ff areoi-element pattern-start-trial-1 rounded-bg-13px d-flex flex-column align-items-center\">\n\t\t\t\n\t\t<div class=\"areoi-background  \">\n\t\t\t<div class=\"container-fluid\" style=\"padding: 0;\">\n\t\t\t\t<div class=\"row justify-content-start\">\n\t\t\t\t\t<div class=\"col \">\n\t\t\t            <div class=\"areoi-background__color\" \n\t                        \tstyle=\"background: rgba(16, 206, 158,0.15)\">\n\t                        <\/div>\n\n\t                    \n\n\t                    \n\n\t                    \n\t    \t\t\t<\/div>\n\t    \t\t<\/div>\n\t    \t<\/div>\n\t    <\/div>\n\t\n\t\t\t\n\n<p class=\"has-text-align-center pt-2 lh-base p-poppins has-text-color\" style=\"color:#1a3b4e;font-size:1.75rem;font-style:normal;font-weight:600\">Discover the potential of Syteca now!<\/p>\n\n\n\n<p>Leverage Syteca&#8217;s comprehensive functionality for minimizing insider risks.<\/p>\n\n\n\n\t\t\t\t\n\t\t<button data-bs-target=\"#hsModal-trial\" data-bs-toggle=\"modal\" \n\t\t\t\n\t\t\tclass=\"block-a078d8dd-5154-4728-856b-ae04c188c41a btn areoi-has-url position-relative mb-2 hsBtn-trial mt-1 btn-secondary\"\n\t >\n\t\t\t\t\t\n\t\t\t\t\tRequest a Free Trial \n\t\t\t\t\t\n\t\t\t\t\t \n\t\t\t\t<\/button>\n\t\t\t\n\n\t\t\t \n\t\t<\/div>\n\t\n\n\n<h2  class=\"wp-block-heading\">What are the most damaging data breaches of 2023?<\/h2>\n\n\n\n<p>The cost of a data breach greatly depends on the number of compromised records, their type, and the time it takes to contain the breach. According to the <a href=\"https:\/\/www.ibm.com\/reports\/data-breach\" target=\"_blank\" rel=\"noreferrer noopener\">2023 Cost of a Data Breach Report<\/a> by IBM security, the customers&#8217; and employees&#8217; personally identifiable information (PII) was the most commonly breached and the costliest type of record \u2014 approximately $183 and $181 per record respectively.<\/p>\n\n\n\n<p>The same report also shows that a longer-than-average data breach lifecycle is associated with higher costs \u2014 $4.95 million (more than 200 days) vs $.3.93 million (less than 200 days of the data breach lifecycle). Yet, the most notorious <a href=\"\/en\/blog\/top-10-cyber-security-breaches\" target=\"_blank\" rel=\"noreferrer noopener\">cybersecurity incidents<\/a> of 2023 cost even more than that.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The mass hack of the popular file transfer tool,<strong> MOVEit<\/strong>, has impacted more than 1,000 organizations and more than 80 million individuals worldwide <a href=\"https:\/\/techcrunch.com\/2023\/08\/25\/moveit-mass-hack-by-the-numbers\/\" target=\"_blank\" rel=\"noreferrer noopener\">as of August 2023<\/a>. British Airways, BBC, IMB, Siemens Energy, City National Bank, multiple federal agencies, and other large organizations are among victim organizations.&nbsp;  <br><br>Based on the average cost of the data breaches and the number of records affected, the estimated total cost of this attack has reached about $9.9 billion so far. This places the MOVEit breach among the farthest-reaching attacks of 2023 and one of the largest data heists in recent years.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Another infamous case is that of <strong>T-Mobile<\/strong>, one of the largest 5G networks and mobile carriers in the United States. T-Mobile suffered <a href=\"https:\/\/firewalltimes.com\/t-mobile-data-breaches\" target=\"_blank\" rel=\"noreferrer noopener\">three data breaches in 2023<\/a>; the first one took place in January of that year and affected 37 million customers whose PINs, phone numbers, full names, dates of birth, and addresses were revealed.&nbsp; <br><br>The second one happened in April 2023 and impacted 836 customers whose data had been compromised \u2014 Social Security numbers, government ID data, and T-Mobile account PINs. That year\u2019s September breach involved the data of T-Mobile employees \u2014 89 gigabytes of employee data, including email addresses and partial Social Security numbers, were posted on a hacker forum.<br><br>These incidents are only part of a series of data breaches that T-Mobile has experienced in recent years. For example, breaches in 2022 cost the company $350 million \u2014 and that&#8217;s just in customer payouts.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Among the other significant <a href=\"\/en\/blog\/real-life-examples-insider-threat-caused-breaches\" target=\"_blank\" rel=\"noreferrer noopener\">insider threat examples<\/a>, the cyber attack on <strong>Yum! Brands<\/strong> of <a href=\"https:\/\/www.securityweek.com\/yum-brands-discloses-data-breach-following-ransomware-attack\/\" target=\"_blank\" rel=\"noreferrer noopener\">January 18<\/a> is worth mentioning. As the result of unauthorized access to Yum! Brands\u2019 networks including KFC, Taco Bell, and Pizza Hut, malicious actors stole and exposed employees\u2019 personal information including their names, ID card numbers, and driver license numbers. Cybercriminals also disrupted the IT systems, which led to the temporary shutdown of approximately <a href=\"https:\/\/www.cybersecuritydive.com\/news\/ransomware-yum-brands-restaurant-cyber\/640843\/\" target=\"_blank\" rel=\"noreferrer noopener\">300 restaurants<\/a> within the UK. <br><br>Yum! Brands said that the corporation had \u201cincurred, and may continue to incur, certain expenses related to this attack including expenses to respond to, remediate, and investigate this matter&#8221;.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>As you can see, all of these data breaches had different consequences and data costs associated with them. To understand all the factors that determine the potential cost of a data breach within your organization, let&#8217;s dive deeper.&nbsp;<\/p>\n\n\n\n<h2  class=\"wp-block-heading\">What determines the cost of a data breach?<\/h2>\n\n\n\n<p>Determining the costs of a data breach involves calculating several major components:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"825\" height=\"402\" src=\"https:\/\/syteca_site_uploads.storage.googleapis.com\/wp-content\/uploads\/2024\/02\/20224008\/graphics-4-How-to-Calculate-the-Cost-of-a-Data-Breach.svg\" alt=\"3 types of breach-related expenses\" class=\"wp-image-39281\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Direct costs<\/strong> of a data breach are the expenses for dealing with a detected breach. This includes the costs of forensic activities and <a href=\"\/en\/solutions\/investigate-security-incidents\" target=\"_blank\" rel=\"noreferrer noopener\">information security investigation<\/a>, fines, and compensating the affected parties.<\/li>\n\n\n\n<li><strong>Indirect costs<\/strong> are connected with the time, effort, and other resources necessary to cover losses from the data breach. Indirect costs of data breaches include expenses for communications regarding the status and effects of the breach; issuing new accounts, credit cards, and credentials; and lost revenue from system downtime.<\/li>\n\n\n\n<li><strong>Lost opportunity costs<\/strong> account for lost business opportunities as a consequence of reputational harm. For example, a breach can lead to a loss of potential customers, a shortfall in profits due to a loss of reputation, or the loss of a competitive advantage in the market.<\/li>\n<\/ul>\n\n\n\n<p>The cost of a data breach is influenced by every action your company takes and even by your company\u2019s location. For instance, the average total cost of a data breach in the United States in 2023 was $9.48 million, whereas in Germany it was $4.67 million, and in Australia it was $2.70 million.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What factors form the cost of a data breach?<\/h3>\n\n\n\n<p>Each data breach does a varied amount of damage and needs to be handled differently. In the <a href=\"https:\/\/www.ibm.com\/reports\/data-breach\" target=\"_blank\" rel=\"noreferrer noopener\">2023 Cost of a Data Breach Report<\/a>, IBM Security highlights the following key factors for estimating the cost of a data breach:<\/p>\n\n\n\n<figure class=\"wp-block-table table-with-subtitle-2\"><table><tbody><tr><td><strong>Factor<\/strong><\/td><td><strong>Description<\/strong><\/td><\/tr><tr><td>Type of affected data<\/td><td>Compromising records of customers\u2019 PII, employees\u2019 PII, intellectual property, and other sensitive corporate data cost the most \u2014 $183, $181, $168, and $156 per record respectively.<\/td><\/tr><tr><td>Number of affected people<\/td><td>Each person affected by the breach needs to be compensated. The larger the scale of the breach, the higher the cost to fix it.<\/td><\/tr><tr><td>Attack vector<\/td><td>Some attack vectors provide malicious actors with more ways to harm an organization than others. On average, the most expensive attack vectors are malicious insider activity ($4.90 million), phishing ($4.65 million), and business email compromise ($4.67 million).<\/td><\/tr><tr><td>Duration of the breach<\/td><td>Breaches that are detected and remediated in less than 200 days on average cost organizations $3.93 million, whereas those that last over 200 days cost $4.95 million. That\u2019s a 23% difference.<\/td><\/tr><tr><td>Incident response team activity<\/td><td>Organizations that have high levels of incident response planning and testing save $1.49 million compared to those with poor incident response programs.<\/td><\/tr><tr><td>Security automation and artificial intelligence (AI)<\/td><td>Leveraging AI and automation helps stop a security incident in its early stages, helping companies save on average $1.76 million per data breach.<\/td><\/tr><tr><td>Data anonymization<br><\/td><td>Anonymized customer data on average costs less compared to other types of data \u2014 $138 per record.<\/td><\/tr><tr><td>Complexity of the cybersecurity system<\/td><td>Organizations with more tools, systems, devices, and users experience an average cost of a security breach of $5.28 million, compared to $3.84 million for organizations with low system complexity.<\/td><\/tr><tr><td>Use of different environments<\/td><td>Companies that store data in the cloud \u2014 public, private, or multiple environments pay $4.75 million for a data breach, which is 6.74% higher than the average cost of a data breach.<\/td><\/tr><tr><td>DevSecOps adoption<\/td><td>Organizations with high DevSecOps adoption levels experience the largest cost savings. They save on average $1.68 million compared to those with low or no DevSecOps adoption.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>As you can see, many factors can influence the cost of an organization\u2019s data breach, and calculating losses must be handled on a case-by-case basis. However, there are common methods that can help you quantify the cost of a data breach.<\/p>\n\n\n\n<h2  class=\"wp-block-heading\">How to calculate the cost of a data breach?<\/h2>\n\n\n\n<p>It&#8217;s important to note that the true cost of a data breach may not be exact, and ongoing assessments and monitoring may be necessary to fully understand the impact over time. Yet, there are some effective ways to estimate the cost of a data breach for your own company more or less precisely.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Activity-based costing (ABC) method<\/h3>\n\n\n\n<p>The <a href=\"https:\/\/en.wikipedia.org\/wiki\/Activity-based_costing\" target=\"_blank\" rel=\"noreferrer noopener\">activity-based costing<\/a> (ABC) method is widely used by Ponemon Institute for its reports. This method requires you to identify and estimate the cost of all the activities in your organization needed to resolve a data breach. This method categorizes more \u201cindirect costs\u201d as \u201cdirect costs\u201d compared to conventional cost analysis.&nbsp;<\/p>\n\n\n\n\t\t<div  class=\"block-52a8e952-002d-4a03-a55d-4329a9ea2ec1 areoi-element container template-8 px-0\">\n\t\t\t\n\t\t\t\n\n\t\t<div  class=\"block-01a180d5-23cf-4316-8ca3-80c2e3adaaf0 areoi-element p-3 table-head\">\n\t\t\t\n\t\t<div class=\"areoi-background  \">\n\t\t\t<div class=\"container-fluid\" style=\"padding: 0;\">\n\t\t\t\t<div class=\"row justify-content-start\">\n\t\t\t\t\t<div class=\"col \">\n\t\t\t            <div class=\"areoi-background__color\" \n\t                        \tstyle=\"background: rgba(26, 59, 78,1)\">\n\t                        <\/div>\n\n\t                    \n\n\t                    \n\n\t                    \n\t    \t\t\t<\/div>\n\t    \t\t<\/div>\n\t    \t<\/div>\n\t    <\/div>\n\t\n\t\t\t\n\n<p class=\"has-text-align-center p-poppins mb-0 has-text-color\" style=\"color:#ffffff;font-size:1.25rem;font-style:normal;font-weight:600\">Activities needed to resolve a data breach according to Ponemon Institute<\/p>\n\n\n\t\t\t \n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-81931cf8-2842-4a90-8060-b90d10151088 areoi-element container\">\n\t\t\t\n\t\t\t\n\n\t\t<div  class=\"block-28b3d633-1691-4973-8d7b-d2c1838773fc row areoi-element row-cols-1 row-cols-md-2\">\n\t\t\t\n\n\t\t\t\n\n\t\t<div  class=\"block-1765243f-d41b-4e37-8d4d-7c7bde2c1da0 col areoi-element\">\n\t\t\t\n\t\t<div class=\"areoi-background  d-none d-sm-none d-md-block\">\n\t\t\t<div class=\"container-fluid\" style=\"padding: 0;\">\n\t\t\t\t<div class=\"row justify-content-start\">\n\t\t\t\t\t<div class=\"col \">\n\t\t\t            <div class=\"areoi-background__color\" \n\t                        \tstyle=\"background: rgba(55, 84, 115,0.05)\">\n\t                        <\/div>\n\n\t                    \n\n\t                    \n\n\t                    \n\t    \t\t\t<\/div>\n\t    \t\t<\/div>\n\t    \t<\/div>\n\t    <\/div>\n\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\"><strong>Discovery and the immediate response to a data breach<\/strong><\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-0d4b19ed-96b4-43d0-96d0-41ac09fe609c col areoi-element\">\n\t\t\t\n\t\t<div class=\"areoi-background  d-none d-sm-none d-md-block\">\n\t\t\t<div class=\"container-fluid\" style=\"padding: 0;\">\n\t\t\t\t<div class=\"row justify-content-start\">\n\t\t\t\t\t<div class=\"col \">\n\t\t\t            <div class=\"areoi-background__color\" \n\t                        \tstyle=\"background: rgba(55, 84, 115,0.05)\">\n\t                        <\/div>\n\n\t                    \n\n\t                    \n\n\t                    \n\t    \t\t\t<\/div>\n\t    \t\t<\/div>\n\t    \t<\/div>\n\t    <\/div>\n\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\"><strong>Activities conducted in the aftermath of discovery<\/strong><\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-c01d9f12-5731-4d59-ba91-203255e6c845 row areoi-element row-cols-1 row-cols-md-2\">\n\t\t\t\n\n\t\t\t\n\n\t\t<div  class=\"block-b3086d87-c788-4bf2-98e0-08c8c090c338 col areoi-element\">\n\t\t\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Conducting investigations and forensic analysis<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-258b402c-02e7-4a89-afee-e7280163f338 col areoi-element\">\n\t\t\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Referring to audits and consulting services<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-28b3d633-1691-4973-8d7b-d2c1838773fc row areoi-element row-cols-1 row-cols-md-2\">\n\t\t\t\n\n\t\t\t\n\n\t\t<div  class=\"block-1765243f-d41b-4e37-8d4d-7c7bde2c1da0 col areoi-element\">\n\t\t\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Determining the victims of the data breach<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-9a415ca8-ec08-44da-880c-17abb7f8a1de col areoi-element\">\n\t\t\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Involving legal services for defense and compliance<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-ae392f95-e47c-4143-8a36-d018beb5cc4a row areoi-element row-cols-1 row-cols-md-2\">\n\t\t\t\n\n\t\t\t\n\n\t\t<div  class=\"block-2d9a8cfc-2659-41d6-a4f7-3c36bfefe43d col areoi-element\">\n\t\t\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Organizing the incident response team<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-e50d9b75-00b8-4127-874c-4615ee571655 col areoi-element\">\n\t\t\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Offering free or discounted services to victims<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-28b3d633-1691-4973-8d7b-d2c1838773fc row areoi-element row-cols-1 row-cols-md-2\">\n\t\t\t\n\n\t\t\t\n\n\t\t<div  class=\"block-1765243f-d41b-4e37-8d4d-7c7bde2c1da0 col areoi-element\">\n\t\t\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Conducting communication and public relations outreach<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-9a415ca8-ec08-44da-880c-17abb7f8a1de col areoi-element\">\n\t\t\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Providing identity protection services<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-acc0f09d-4dd7-4d00-bbdb-bd344d0a8775 row areoi-element row-cols-1 row-cols-md-2\">\n\t\t\t\n\n\t\t\t\n\n\t\t<div  class=\"block-b14908c3-405f-4b14-9d96-7ffbf5e7e182 col areoi-element\">\n\t\t\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Preparing notices and other documents for data breach victims and regulators<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-2b8c3902-8863-4fb8-a73a-fe72612649fe col areoi-element\">\n\t\t\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Calculating customer churn or turnover<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-28b3d633-1691-4973-8d7b-d2c1838773fc row areoi-element row-cols-1 row-cols-md-2\">\n\t\t\t\n\n\t\t\t\n\n\t\t<div  class=\"block-1765243f-d41b-4e37-8d4d-7c7bde2c1da0 col areoi-element\">\n\t\t\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Implementing call center procedures<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-9a415ca8-ec08-44da-880c-17abb7f8a1de col areoi-element\">\n\t\t\t\n\t\t\t\n\n<p class=\"has-text-align-center mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Paying for customer acquisition and loyalty programs<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n\n\t\t\t \n\t\t<\/div>\n\t\n\n\n<h3 class=\"wp-block-heading\">Factor analysis of information risk (FAIR)<\/h3>\n\n\n\n<p>Another useful approach actively used by Ponemon Institute is <a href=\"https:\/\/en.wikipedia.org\/wiki\/Factor_analysis_of_information_risk#:~:text=Factor%20Analysis%20of%20Information%20Risk%20(FAIR)%20is%20a%20taxonomy%20of,magnitude%20of%20data%20loss%20events.\" target=\"_blank\" rel=\"noreferrer noopener\">factor analysis of information risk<\/a> (FAIR).&nbsp;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe FAIR risk quantification methodology can help ascertain the probability of security incidents and calculate the associated costs in business value.\u201d&nbsp;<\/p>\n<cite>The <a href=\"https:\/\/info.techdata.com\/rs\/946-OMQ-360\/images\/Cost_of_a_Data_Breach_Report_2021.PDF\" target=\"_blank\" rel=\"noreferrer noopener\">Cost of a Data Breach Report 2021 by IBM Security<\/a> [PDF].<\/cite><\/blockquote>\n\n\n\n<p>The FAIR model is based on a taxonomy of the risk factors and how they affect each other. Its aim is to quantify and manage the risks in your organization. The main stages of FAIR analysis include:&nbsp;&nbsp;<\/p>\n\n\n\n\t\t<div  class=\"block-52a8e952-002d-4a03-a55d-4329a9ea2ec1 areoi-element container template-11 px-0\">\n\t\t\t\n\t\t\t\n\n\t\t<div  class=\"block-01a180d5-23cf-4316-8ca3-80c2e3adaaf0 areoi-element p-3 table-head\">\n\t\t\t\n\t\t<div class=\"areoi-background  \">\n\t\t\t<div class=\"container-fluid\" style=\"padding: 0;\">\n\t\t\t\t<div class=\"row justify-content-start\">\n\t\t\t\t\t<div class=\"col \">\n\t\t\t            <div class=\"areoi-background__color\" \n\t                        \tstyle=\"background: rgba(26, 59, 78,1)\">\n\t                        <\/div>\n\n\t                    \n\n\t                    \n\n\t                    \n\t    \t\t\t<\/div>\n\t    \t\t<\/div>\n\t    \t<\/div>\n\t    <\/div>\n\t\n\t\t\t\n\n<p class=\"has-text-align-center p-poppins mb-0 has-text-color\" style=\"color:#ffffff;font-size:1.25rem;font-style:normal;font-weight:600\">FAIR framework<\/p>\n\n\n\t\t\t \n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-81931cf8-2842-4a90-8060-b90d10151088 areoi-element container\">\n\t\t\t\n\t\t\t\n\n\t\t<div  class=\"block-5ddb4ab0-cc83-40b6-863f-a9857000a57d row areoi-element\">\n\t\t\t\n\n\t\t\t\n\n\t\t<div  class=\"block-aa4033ad-e549-427b-bd0a-873e5cce1fc1 col areoi-element d-flex align-items-center col-12 col-md-5 col-xl-4\">\n\t\t\t\n\t\t<div class=\"areoi-background  \">\n\t\t\t<div class=\"container-fluid\" style=\"padding: 0;\">\n\t\t\t\t<div class=\"row justify-content-start\">\n\t\t\t\t\t<div class=\"col \">\n\t\t\t            <div class=\"areoi-background__color\" \n\t                        \tstyle=\"background: rgba(55, 84, 115,0.05)\">\n\t                        <\/div>\n\n\t                    \n\n\t                    \n\n\t                    \n\t    \t\t\t<\/div>\n\t    \t\t<\/div>\n\t    \t<\/div>\n\t    <\/div>\n\t\n\t\t\t\n\n<p class=\"mb-0 p-4\" style=\"font-style:normal;font-weight:400\"><strong>Evaluating threat event frequency<\/strong><\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-af6987dc-0ef5-413e-9f98-04085ef6ca68 col areoi-element col-12 col-md-7 col-xl-8\">\n\t\t\t\n\t\t\t\n\n<p class=\"mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Identify the likelihood of a data breach occurring according to your past breaches and\/or industry benchmarks.<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-fc2bddd4-b162-4328-aeea-d77e7a927f84 row areoi-element\">\n\t\t\t\n\n\t\t\t\n\n\t\t<div  class=\"block-aa4033ad-e549-427b-bd0a-873e5cce1fc1 col areoi-element d-flex align-items-center col-12 col-md-5 col-xl-4\">\n\t\t\t\n\t\t<div class=\"areoi-background  \">\n\t\t\t<div class=\"container-fluid\" style=\"padding: 0;\">\n\t\t\t\t<div class=\"row justify-content-start\">\n\t\t\t\t\t<div class=\"col \">\n\t\t\t            <div class=\"areoi-background__color\" \n\t                        \tstyle=\"background: rgba(55, 84, 115,0.05)\">\n\t                        <\/div>\n\n\t                    \n\n\t                    \n\n\t                    \n\t    \t\t\t<\/div>\n\t    \t\t<\/div>\n\t    \t<\/div>\n\t    <\/div>\n\t\n\t\t\t\n\n<p class=\"mb-0 p-4\" style=\"font-style:normal;font-weight:400\"><strong>Estimating loss event severity<\/strong><\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-af6987dc-0ef5-413e-9f98-04085ef6ca68 col areoi-element col-12 col-md-7 col-xl-8\">\n\t\t\t\n\t\t\t\n\n<p class=\"mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Determine the potential financial impact \u2014 the cost of recovering from the breach, fines and\/or legal liabilities, and the possible loss of customers or revenue.<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-5ddb4ab0-cc83-40b6-863f-a9857000a57d row areoi-element\">\n\t\t\t\n\n\t\t\t\n\n\t\t<div  class=\"block-a5b5cbf9-e88c-47f8-b9c6-b0be8a27f3da col areoi-element d-flex align-items-center col-12 col-md-5 col-xl-4\">\n\t\t\t\n\t\t<div class=\"areoi-background  \">\n\t\t\t<div class=\"container-fluid\" style=\"padding: 0;\">\n\t\t\t\t<div class=\"row justify-content-start\">\n\t\t\t\t\t<div class=\"col \">\n\t\t\t            <div class=\"areoi-background__color\" \n\t                        \tstyle=\"background: rgba(55, 84, 115,0.05)\">\n\t                        <\/div>\n\n\t                    \n\n\t                    \n\n\t                    \n\t    \t\t\t<\/div>\n\t    \t\t<\/div>\n\t    \t<\/div>\n\t    <\/div>\n\t\n\t\t\t\n\n<p class=\"mb-0 p-4\" style=\"font-style:normal;font-weight:400\"><strong>Assessing single loss expectancy<\/strong><\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-af6987dc-0ef5-413e-9f98-04085ef6ca68 col areoi-element col-12 col-md-7 col-xl-8\">\n\t\t\t\n\t\t\t\n\n<p class=\"mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Consider the expected financial loss from a single data breach.<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-837d622b-5e4c-45b8-a4ee-98e700f55cbb row areoi-element\">\n\t\t\t\n\n\t\t\t\n\n\t\t<div  class=\"block-a5b5cbf9-e88c-47f8-b9c6-b0be8a27f3da col areoi-element d-flex align-items-center col-12 col-md-5 col-xl-4\">\n\t\t\t\n\t\t<div class=\"areoi-background  \">\n\t\t\t<div class=\"container-fluid\" style=\"padding: 0;\">\n\t\t\t\t<div class=\"row justify-content-start\">\n\t\t\t\t\t<div class=\"col \">\n\t\t\t            <div class=\"areoi-background__color\" \n\t                        \tstyle=\"background: rgba(55, 84, 115,0.05)\">\n\t                        <\/div>\n\n\t                    \n\n\t                    \n\n\t                    \n\t    \t\t\t<\/div>\n\t    \t\t<\/div>\n\t    \t<\/div>\n\t    <\/div>\n\t\n\t\t\t\n\n<p class=\"mb-0 p-4\" style=\"font-style:normal;font-weight:400\"><strong>Calculating annual loss expectancy<\/strong><\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-af6987dc-0ef5-413e-9f98-04085ef6ca68 col areoi-element col-12 col-md-7 col-xl-8\">\n\t\t\t\n\t\t\t\n\n<p class=\"mb-0 p-4\" style=\"font-style:normal;font-weight:400\">Project the expected financial loss from data breaches over a year.<\/p>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n\n\t\t\t \n\t\t<\/div>\n\t\n\n\n<p>By using the FAIR framework, you can get a clear picture of the financial risks associated with data protection within your organization and take effective measures to mitigate those risks.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Data breach calculator<\/h3>\n\n\n\n<p>Probably the easiest method is using dedicated data breach calculators like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/eriskhub.com\/mini-calc-usli\" target=\"_blank\" rel=\"noreferrer noopener\">NetDilligence sample calculator<\/a> that relies on public information and data from various websites that track breach statistics<\/li>\n\n\n\n<li>HIPAA Secure Now! Calculator designed for healthcare organizations.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Take note that the outputs of these data breach calculators are estimates and actual data breach costs may differ. Though the calculation isn\u2019t pinpoint accurate, it may give you an understanding of the cost components.<\/p>\n\n\n\n<p>Whatever method you choose, take note that it\u2019s tricky to identify the cost of a security breach because each data breach needs to be handled in a different way. The type of data stolen, the size of the breach, its impact on your reputation, and some other aspects may become cost-forming factors.&nbsp;<\/p>\n\n\n\n<p>If you agree that <em>prevention is better than a cure<\/em>, let\u2019s take a look at the best practices for reducing the risks associated with data breaches.&nbsp;<\/p>\n\n\n\n<h2  class=\"wp-block-heading\">6 practices to reduce the risk of data breaches<\/h2>\n\n\n\n<p>The good news is that you can prepare for a data breach, mitigate possible damage, and reduce your expenses. To do so, you need to reinforce your cybersecurity system with the most efficient tools and practices.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"825\" height=\"378\" src=\"https:\/\/syteca_site_uploads.storage.googleapis.com\/wp-content\/uploads\/2024\/02\/20230310\/graphics-5-How-to-Calculate-the-Cost-of-a-Data-Breach.svg\" alt=\"6 practices to reduce the cost of a data breach\" class=\"wp-image-39297\"\/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. Assess your security risks<\/h3>\n\n\n\n<p>Before improving your cyber defenses, it\u2019s a good idea to find out what can harm your organization the most. To do that, you can <a href=\"\/en\/blog\/insider-threat-risk-assessment\" target=\"_blank\" rel=\"noreferrer noopener\">conduct a risk assessment<\/a> \u2014 a practice that helps you identify:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Sensitive data<\/li>\n\n\n\n<li>Threats to an organization<\/li>\n\n\n\n<li>The potential impact and likelihood of those threats<\/li>\n\n\n\n<li>Business risks posed by these threats.<\/li>\n<\/ul>\n\n\n\n<p>While conducting a risk assessment, it\u2019s useful to analyze known data breaches in your industry and the history of security incidents in your organization. To track the actions that may put your sensitive data at risk and prevent potential damage, use <a href=\"\/en\" target=\"_blank\" rel=\"noreferrer noopener\">Syteca<\/a> \u2014 a full-cycle insider risk management platform.&nbsp; Syteca\u2019s <a href=\"\/en\/product\/reports-and-statistics\" target=\"_blank\" rel=\"noreferrer noopener\">auditing and user activity reporting<\/a> capabilities can provide useful insights into security incidents and their impact on your systems, helping you enhance your incident response activities.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. Form an incident response team<\/h3>\n\n\n\n<p>Forming a threat response team and implementing a robust <a href=\"\/en\/blog\/incident-response-plan-tips\" target=\"_blank\" rel=\"noreferrer noopener\">incident response program<\/a> can help you identify a data breach 54 days faster, thus significantly reducing its cost according to the <a href=\"https:\/\/www.ibm.com\/reports\/data-breach\" target=\"_blank\" rel=\"noreferrer noopener\">2023 Cost of a Data Breach Report<\/a> by IBM security. However, preparing an efficient team requires considerable effort.<\/p>\n\n\n\n<p>An incident response team should include employees who can quickly remediate damage from the data breach if it occurs. They need to analyze the incident, gather evidence, take the necessary recovery measures, notify affected parties, etc.<\/p>\n\n\n\n<p>To be able to respond to incidents swiftly and efficiently, the team should consist of specialists from various departments: IT, legal, security, communications, customer service, and executive management. The threat response team also requires relevant cybersecurity training, the authority to act decisively, and the opportunity to prepare incident response plans for various breach scenarios in advance. For more advice on establishing an effective incident response process, consider referring to <a href=\"\/en\/blog\/incident-response-plan-tips\" target=\"_blank\" rel=\"noreferrer noopener\">NIST incident response planning<\/a> tips.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Deploy security threat detection tools<\/h3>\n\n\n\n<p>Threat detection time plays a crucial role in determining the cost of a data breach. The more time a malicious actor handles your organization&#8217;s data, the more damage they can cause. The most efficient way to detect security threats at early stages is by deploying <a href=\"\/en\" target=\"_blank\" rel=\"noreferrer noopener\">dedicated software<\/a> that monitors activity in your network and notifies you of any unusual and suspicious activity.<\/p>\n\n\n\n<p>Syteca can help you <a href=\"\/en\/product\/alerts-and-notifications\" target=\"_blank\" rel=\"noreferrer noopener\">detect and respond to an incident<\/a> in real time. The platform continuously <a href=\"\/en\/product\/user-activity-monitoring\" target=\"_blank\" rel=\"noreferrer noopener\">monitors user activity<\/a> at each of your endpoints, and when a user violates any of the defined security rules, Syteca sends an alert to your security team. The security officers can then view the user\u2019s session online, determine whether the user\u2019s actions threaten your organization\u2019s security, block the user, and end the process if necessary.<\/p>\n\n\n\n<p>To make <a href=\"\/en\/product\/alerts-and-notifications\" target=\"_blank\" rel=\"noreferrer noopener\">incident response<\/a> even more efficient, you can configure Syteca to block suspicious activities automatically.<\/p>\n\n\n\n\t\t<div  class=\"block-5f723a19-347f-4a20-9c16-90c5e540a208 areoi-element pattern-request-demo-1 rounded-bg-13px d-flex flex-column align-items-center\">\n\t\t\t\n\t\t<div class=\"areoi-background  \">\n\t\t\t<div class=\"container-fluid\" style=\"padding: 0;\">\n\t\t\t\t<div class=\"row justify-content-start\">\n\t\t\t\t\t<div class=\"col \">\n\t\t\t            <div class=\"areoi-background__color\" \n\t                        \tstyle=\"background: rgba(71, 144, 234,0.15)\">\n\t                        <\/div>\n\n\t                    \n\n\t                    \n\n\t                    \n\t    \t\t\t<\/div>\n\t    \t\t<\/div>\n\t    \t<\/div>\n\t    <\/div>\n\t\n\t\t\t\n\n<p class=\"has-text-align-center p-poppins mb-2 lh-sm pt-2 has-text-color\" style=\"color:#1a3b4e;font-size:1.75rem;font-style:normal;font-weight:600\">Request access to the online demo of Syteca!<\/p>\n\n\n\n<p class=\"has-text-align-center p-poppins mb-0 has-text-color\" style=\"color:#1a3b4e;font-style:normal;font-weight:500\">See how Syteca can help you prevent insider threats.<\/p>\n\n\n\n\t\t\t\t\n\t\t<button data-bs-target=\"#hsModal-demo\" data-bs-toggle=\"modal\" \n\t\t\t\n\t\t\tclass=\"block-9170fdac-8fec-4c73-a86c-338093dbf9d9 btn areoi-has-url position-relative mb-2 hsBtn-demo btn-info mt-4 btn-info\"\n\t >\n\t\t\t\t\t\n\t\t\t\t\tAccess the Demo Portal \n\t\t\t\t\t\n\t\t\t\t\t \n\t\t\t\t<\/button>\n\t\t\t\n\n\t\t\t \n\t\t<\/div>\n\t\n\n\n<h3 class=\"wp-block-heading\">4. Leverage AI for cybersecurity tasks<\/h3>\n\n\n\n<p>Implementing AI capabilities takes security threat detection to another level. AI allows security officers to take preventive actions against potential threats, reducing the mean time to identify and contain a breach by 108 days and, thus, saving approximately $1.76 million on a data breach according to the <a href=\"https:\/\/www.ibm.com\/reports\/data-breach\" target=\"_blank\" rel=\"noreferrer noopener\">2023 Cost of a Data Breach Report<\/a> by IBM security.<\/p>\n\n\n\n<p>AI is the core of <a href=\"\/en\/blog\/best-practices-building-baseline-user-behavior\" target=\"_blank\" rel=\"noreferrer noopener\">user and entity behavior analytics (UEBA) solutions<\/a> that analyze daily user activities, create a baseline of user behavior, and spot any changes and unusual actions. UEBA solutions can also help security officers assess threats by analyzing each user\u2019s actions and calculating a risk score. A UEBA tool can detect sophisticated data breaches caused by:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>User account compromise<\/li>\n\n\n\n<li>Credential leaks<\/li>\n\n\n\n<li>Malicious insider activity.<\/li>\n<\/ul>\n\n\n\n<p>Syteca\u2019s UEBA module detects when users log in to their accounts outside of usual working hours, which can be a <a href=\"\/en\/blog\/insider-threat-indicators\" target=\"_blank\" rel=\"noreferrer noopener\">sign of an insider threat<\/a> or a hacking attempt.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5. Implement the zero trust approach<\/h3>\n\n\n\n<p>As the name suggests, the <a href=\"\/en\/blog\/zero-trust-implementation\" target=\"_blank\" rel=\"noreferrer noopener\">zero trust approach<\/a> to cybersecurity assumes that no user or entity in your system should be trusted by default. Users should be able to access only the resources they need for their work routines. Additionally, before providing a user with access to resources, you should verify their identity.<\/p>\n\n\n\n<p>This approach helps to significantly reduce the attack surface in case a user acts maliciously or their account is compromised. That\u2019s why organizations with a mature zero trust architecture in place can lower the average cost of a data breach by $1.51 million, according to the <a href=\"https:\/\/www.key4biz.it\/wp-content\/uploads\/2022\/07\/Cost-of-a-Data-Breach-Full-Report-2022.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">2022 Cost of a Data Breach Report<\/a> by IBM Security [PDF].<\/p>\n\n\n\n<p>You can implement the zero trust approach by leveraging Syteca\u2019s <a href=\"\/en\/product\/identity-management\" target=\"_blank\" rel=\"noreferrer noopener\">identity and access management<\/a> capabilities. With <a href=\"\/en\/two-factor-authentication-tool\" target=\"_blank\" rel=\"noreferrer noopener\">multi-factor authentication<\/a>, it\u2019s easy to verify user identities and reduce the risk of unauthorized access.<\/p>\n\n\n\n<p>Moreover, Syteca helps you secure access to sensitive data with the following functionalities:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"\/en\/product\/privileged-access-management\" target=\"_blank\" rel=\"noreferrer noopener\">Privileged access management<\/a>&nbsp;<\/li>\n\n\n\n<li>Time-based access restrictions<\/li>\n\n\n\n<li>Manual access approval<\/li>\n\n\n\n<li>Auto-generated one-time passwords, and other methods.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">6. Protect remote connections<\/h3>\n\n\n\n<p>The switch to remote work has reduced the effectiveness of organizations\u2019 IT defenses. In 2022, this resulted in an almost $1 million increase in the average cost of a breach, according to the <a href=\"https:\/\/www.key4biz.it\/wp-content\/uploads\/2022\/07\/Cost-of-a-Data-Breach-Full-Report-2022.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Cost of a Data Breach 2022 Report by Ponemon Institute<\/a> [PDF]. As more and more remote employees work outside of traditional on-premise environments, use unprotected devices, and connect to unsecured public networks, they pose additional security risks to organizations.<\/p>\n\n\n\n<p>However, you can mitigate these risks by:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Securing connections to sensitive resources with a VPN<\/li>\n\n\n\n<li>Making sure remote employees use protected devices and software<\/li>\n\n\n\n<li>Deploying Syteca to <a href=\"\/en\/product\/supported-platforms\/windows-monitoring\" target=\"_blank\" rel=\"noreferrer noopener\">monitor the activity of remote workers<\/a> in your IT infrastructure<\/li>\n\n\n\n<li>Limiting access to sensitive resources with Syteca\u2019s PAM functionality<\/li>\n\n\n\n<li>Verifying every user\u2019s identity upon each connection.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/www.syteca.com\/en\/insider-threat-program-white-paper\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/syteca_site_uploads.storage.googleapis.com\/wp-content\/uploads\/2023\/09\/13040803\/banner_Insider_Threat_Program-2-1024x338.png\" alt=\"Whitepaper on insider threat program\"\/><\/a><\/figure>\n\n\n\n<h2  class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p>The cost of a data breach depends on a great number of factors. Every breach is unique, making it difficult to pinpoint how much a data breach could cost your company. In this article, we have described the best techniques for calculating the possible impact of a data breach on your organization. Nevertheless, it&#8217;s always best to take a proactive approach to prevent data breaches. In this article, we have provided the best security practices to help you reduce the risk of a data breach and avoid its negative consequences.<\/p>\n\n\n\n<p>By building a mature <a href=\"\/en\/blog\/data-breach-investigation-best-practices\" target=\"_blank\" rel=\"noreferrer noopener\">data breach incident response<\/a> program, following zero trust principles, and securing your endpoints with dedicated software, you can significantly fortify your defenses and prevent leaks of sensitive data. Syteca helps you detect and put a stop to security breaches with robust user activity monitoring, access management, and incident response functionalities.<\/p>\n\n\n\n\t\t<div  class=\"block-a5a922ff-56ce-4468-9941-ea5073690a8c areoi-element container pattern-request-demo-2 rounded-bg-13px\">\n\t\t\t\n\t\t<div class=\"areoi-background  \">\n\t\t\t<div class=\"container-fluid\" style=\"padding: 0;\">\n\t\t\t\t<div class=\"row justify-content-start\">\n\t\t\t\t\t<div class=\"col \">\n\t\t\t            <div class=\"areoi-background__color\" \n\t                        \tstyle=\"background: rgba(71, 144, 235,0.15)\">\n\t                        <\/div>\n\n\t                    \n\n\t                    \n\n\t                    \n\t    \t\t\t<\/div>\n\t    \t\t<\/div>\n\t    \t<\/div>\n\t    <\/div>\n\t\n\t\t\t\n\n\t\t<div  class=\"block-956ebe2e-368e-4ac7-8ee2-a15583083abd row areoi-element align-items-center row-cols-md-2\">\n\t\t\t\n\n\t\t\t\n\n\t\t<div  class=\"block-9e962fe6-f77f-40f9-898c-abaef3f48ccb col areoi-element d-flex flex-wrap flex-column align-items-center align-items-md-start col-md-6\">\n\t\t\t\n\t\t\t\n\n<p class=\"has-text-align-left p-poppins pt-3 text-center text-md-start lh-sm has-text-color\" style=\"color:#1a3b4e;font-size:1.75rem;font-style:normal;font-weight:600\">Want to try Syteca? Request access<br>to the online demo!<\/p>\n\n\n\n<p class=\"has-text-align-left p-poppins pb-3 text-center text-md-start\" style=\"font-style:normal;font-weight:500\">See why clients from 70+ countries already use Syteca.<\/p>\n\n\n\n\t\t\t\t\n\t\t<button data-bs-target=\"#hsModal-demo\" data-bs-toggle=\"modal\" \n\t\t\t\n\t\t\tclass=\"block-9170fdac-8fec-4c73-a86c-338093dbf9d9 btn areoi-has-url position-relative me-lg-2  me-md-2 me-sm-2 me-lg-4 mb-3 hsBtn-demo btn-info  btn-info\"\n\t >\n\t\t\t\t\t\n\t\t\t\t\tAccess the Demo Portal \n\t\t\t\t\t\n\t\t\t\t\t \n\t\t\t\t<\/button>\n\t\t\t\n \n\t\t\t\n\t\t<\/div>\n\t\n\n\n\t\t<div  class=\"block-f840f051-f300-4ade-9e70-68d6c65e619d col areoi-element col-md-6 d-none d-sm-none d-md-block\">\n\t\t\t\n\t\t\t\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"369\" height=\"248\" src=\"https:\/\/syteca_site_uploads.storage.googleapis.com\/wp-content\/uploads\/2023\/06\/02014220\/Group-584.png\" alt=\"\" class=\"wp-image-24868\" srcset=\"https:\/\/syteca_site_uploads.storage.googleapis.com\/wp-content\/uploads\/2023\/06\/02014220\/Group-584.png 369w, https:\/\/syteca_site_uploads.storage.googleapis.com\/wp-content\/uploads\/2023\/06\/02014220\/Group-584-300x202.png 300w\" sizes=\"(max-width: 369px) 100vw, 369px\" \/><\/figure>\n\n \n\t\t\t\n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t\n \n\t\t<\/div>\n\t","protected":false},"excerpt":{"rendered":"<p>A data breach is more than a cybersecurity failure; it\u2019s a financial liability that can reshape your organization\u2019s future. Calculating the financial cost of a data breach is a complex process that accounts for direct costs, indirect losses, and lost opportunities resulting from the incident. In this article, we demonstrate how to quantify the potential [&hellip;]<\/p>\n","protected":false},"author":55,"featured_media":39337,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58],"tags":[],"class_list":["post-14163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-protection"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to Calculate the Cost of a Data Breach for Your Company \u30fc Syteca<\/title>\n<meta name=\"description\" content=\"Learn how to calculate the cost of a data breach for your organization. Our guide will help you estimate both the direct and indirect costs involved.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.syteca.com\/en\/blog\/cost-of-a-data-breach\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Calculate the Cost of a Data Breach for Your Company \u30fc Syteca\" \/>\n<meta property=\"og:description\" content=\"Learn how to calculate the cost of a data breach for your organization. Our guide will help you estimate both the direct and indirect costs involved.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.syteca.com\/en\/blog\/cost-of-a-data-breach\" \/>\n<meta property=\"og:site_name\" content=\"Syteca\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-09T07:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-13T15:32:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/syteca_site_uploads.storage.googleapis.com\/wp-content\/uploads\/2021\/11\/21012041\/2-OG-How-to-Calculate-the-Cost-of-a-Data-Breach.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Yevhen Zhurer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/syteca_site_uploads.storage.googleapis.com\/wp-content\/uploads\/2021\/11\/21012055\/2-OG-TW-How-to-Calculate-the-Cost-of-a-Data-Breach.png\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yevhen Zhurer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"18 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.syteca.com\/en\/blog\/cost-of-a-data-breach#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.syteca.com\/en\/blog\/cost-of-a-data-breach\"},\"author\":{\"name\":\"Yevhen Zhurer\",\"@id\":\"https:\/\/www.syteca.com\/en\/#\/schema\/person\/ad8fc17f1d6835d02bab9bde11ac4976\"},\"headline\":\"How to Calculate the Cost of a Data Breach\",\"datePublished\":\"2021-11-09T07:00:00+00:00\",\"dateModified\":\"2026-03-13T15:32:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.syteca.com\/en\/blog\/cost-of-a-data-breach\"},\"wordCount\":3582,\"image\":{\"@id\":\"https:\/\/www.syteca.com\/en\/blog\/cost-of-a-data-breach#primaryimage\"},\"thumbnailUrl\":\"https:\/\/syteca_site_uploads.storage.googleapis.com\/wp-content\/uploads\/2021\/11\/21011938\/2-cover-How-to-Calculate-the-Cost-of-a-Data-Breach.png\",\"articleSection\":[\"Data Protection\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.syteca.com\/en\/blog\/cost-of-a-data-breach\",\"url\":\"https:\/\/www.syteca.com\/en\/blog\/cost-of-a-data-breach\",\"name\":\"How to Calculate the Cost of a Data Breach for Your Company \u30fc Syteca\",\"isPartOf\":{\"@id\":\"https:\/\/www.syteca.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.syteca.com\/en\/blog\/cost-of-a-data-breach#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.syteca.com\/en\/blog\/cost-of-a-data-breach#primaryimage\"},\"thumbnailUrl\":\"https:\/\/syteca_site_uploads.storage.googleapis.com\/wp-content\/uploads\/2021\/11\/21011938\/2-cover-How-to-Calculate-the-Cost-of-a-Data-Breach.png\",\"datePublished\":\"2021-11-09T07:00:00+00:00\",\"dateModified\":\"2026-03-13T15:32:29+00:00\",\"author\":{\"@id\":\"https:\/\/www.syteca.com\/en\/#\/schema\/person\/ad8fc17f1d6835d02bab9bde11ac4976\"},\"description\":\"Learn how to calculate the cost of a data breach for your organization. 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