Untangling the Costs of Cyber Breach Recovery (and Strategies to Avoid Overbilling)
As cyber threats (and their price tags) evolve, so must the strategies companies use to navigate breach recovery. The future of breach recovery lies in smarter, faster solutions — particularly AI-driven approaches that streamline data mining and ensure breach notification compliance without compromising security or inflating costs.
The global average cost of a data breach has?surged 10% in the past year, reaching a record high $4.88 million. While operational downtime and lost customers remain major contributors, a growing portion of these costs stem from inefficient post-breach responses, particularly non-compliance with regulatory standards and the fines that come along with that. With regulatory pressure mounting, companies are leaning harder on legal professionals to steer them through the post-breach maze — ensuring that every notification is compliant, every deadline is met, and every dollar spent is strategic. In a landscape where one misstep can mean millions, navigating cyber recovery has become as much a legal challenge as a technical one.
The Cost of Improper Notification
Non-compliance, in the context of a breach, goes beyond failing to meet privacy, security, and data-handling regulations ahead of the breach (which often contribute to the breach itself). It also includes failure to meet post-breach requirements, particularly those related to notification...