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In 2022, the average cost of a data breach increased 2.6% to $4.35 million per event, according to IBM Security's The Cost of a Data Breach Report.
That study furthered determined that:
- Roughly four out of five organizations or companies have experienced at least one breach.
- Data breaches that impact critical infrastructure tend to be more costly than ransomware attacks.
- A prepared incident response team goes a long way toward curtailing the cost and impact of a data breach.
Although few regions worldwide are immune to the threat of a data breach, cybercrime flourishes more in some countries than others.
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Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
