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Data breach costs decline

Costs from data breaches are down, according to a new study by Symantec and the Ponemon Institute.

In 2011, the average cost of a data breach was $5.5 million dollars — a decrease of 24 percent from the previous year. Similarly, the cost per compromised record was $194 dollars per compromised record, reports on the study’s results.

The decreases are believed to be partly because of companies stepping up their notification and response processes.

The study’s authors gathered information nearly 50 U.S. companies across 14 different sectors.

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This story is part of Federal News Radio’s daily Cybersecurity Update. For more cybersecurity news, click here.