Illustration file picture shows a man typing on a computer keyboard in Warsaw

An Indian firm will lose an average of $1.7 million in the aftermath of a data breach

$1.7 million

A new study by IBM and US research firm Ponemon Institute shows just how costly hacks are becoming for Indian firms.

Published   |  Photo by Reuters/Kacper Pempel
Illustration file picture shows a man typing on a computer keyboard in Warsaw
$1.7 million

A survey of 500 companies found that the average cost of a data breach in India rose nearly 8% between 2016 and 2017, reaching Rs11.9 crore ($1.7 million).

Illustration file picture shows a man typing on a computer keyboard in Warsaw
$1.7 million

The cost of a data breach in India has been on the rise

Illustration file picture shows a man typing on a computer keyboard in Warsaw
$1.7 million

The study found that companies are struggling to cope with risks, and taking longer to identify and contain the hacks.

Illustration file picture shows a man typing on a computer keyboard in Warsaw
$1.7 million

The mean time to identify a data breach increased from 170 days in 2016 to 188 days in 2017. And the time taken to contain them has also increased, from 72 days to 78 days.

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