2 years ago

Category: Business, Database, Security, Data

If you're an Australian business reading this, there's a 30% chance you will suffer a data breach. Such cutthroat statistics, as uncomfortable as they are to read, are important to be aware of if you want to avoid becoming one.

The average cost of a data breach in Australia is $3.35 million per breach, an increase of 9.8% year on year.

Victims that respond to data breaches in under 200 days spend an average of $1.1 million less on data breach damages.

In 2018, the Australian government mandated the Notifiable Data Breach (NDB) scheme which requires all business entities with an annual turnover of more than $3 million to report data breach events to both impacted individuals and the OAIC.