Rising data breach costs show need for national merchant standards

The average costs for businesses related to data breaches are going up, another sign of the need for Congress to adopt NAFCU-supported national data security merchants and retailers.

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According to the “Cost of Data Breach Study: Global Analysis,” released Wednesday by the Ponemon Institute, the average consolidated total cost of a data breach is $3.8 million, up 23 percent since 2013.
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