In a highly reported data breach late last year, Target discovered that the records of some 110 million of its customers had been compromised. Experts are reporting that the Target data breach will end up costing more than $1 billion (US). It led directly to the removal of the IT director and the CEO, and the company’s 4th-quarter net income plunged 46 percent.
Despite the costly hit taken by the Target corporation, it turns out that retail organizations have the lowest per-record cost of data breach versus many other organizations. Generally speaking, the more highly regulated an industry is, the more costly the data breach – per record — will be. See the graphic showing the average cost per record breached by industry to gauge your potential threat.