Top countries losing money to data breaches

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. Researchers with Proxyrack recently set out to determine which countries in the world lose the most money to data breaches. The slideshow above illustrates their findings. In general, industrial nations with brisk digital engagement topped the list of countries that lose the most money to data breaches. These also are countries where more employees are likely to work remotely, which can open a door for savvy hackers. See also:

• The 10 industries that see the most data breaches
• 5 steps to lower your risk of data breaches
• Cyberthreats remain the top business concern, Travelers reports