Cost of Data Breaches: How to Prevent and Mitigate Losses
Imagine waking up to a Slack message:
“We’ve had a breach.”
Not a great way to start your day, especially when the average cost of a data breach now exceeds $4.9 million, based on the IBM data breach report.
For smaller SaaS or fintech startups, that number is more than a blow—it’s potentially fatal.
But here's the good news: Most breaches don’t come from nation-state attacks. They come from basic oversights. And that means they can be prevented.
🛡️ 4 Practical Moves to Reduce Breach Risks
Start with Access Hygiene: Stop giving everyone keys to every room.
Use role-based access control (RBAC).
Remove access for ex-employees (set up auto-expiry policies).
Avoid using shared logins for admin tools.
Encrypt, Always: Data at rest and in transit should be encrypted.
Use HTTPS everywhere.
Encrypt your databases—don’t just rely on cloud provider defaults.
Turn on Alerts, Not Just Logs:
Set up alerts for suspicious logins, especially those occurring after hours or from new locations.
Utilise tools such as AWS GuardDuty, Azure Defender, or even basic SIEM tools.
Assume Breach, Test Recovery: Prevention is great, but resilience matters more.
Run tabletop incident response drills quarterly.
Ensure off-site encrypted backups exist, and test restores.
🧠 Key Takeaways
Breaches cost more than just money—they burn customer trust.
Basic security hygiene goes a long way.
You don’t need an army—just a clear process, good defaults, and regular check-ins.
Know more, risk less.