What it costs to have a Data Breach, useful data.
IBM Report: Data-Breach Costs Hit 17-Year High of $4.24M
Nancy Chenyizhi Liu | Editor in SdxCentral
July 28, 2021 12:01 AM
Data-breach costs jumped nearly 10% from an average of $3.86 million to $4.24 million per incident over the past year, according to IBM’s latest Cost of a Data Breach Report. It marks the highest average total cost in this report’s 17-year history and the largest single-year increase in the last seven years.
The 2021 Cost of a Data Breach Report is based on analysis of 537 real-world data breaches in 17 different industries across 17 countries and regions that occurred between May 2020 and March 2021.
Despite the overall cost growth, organizations with more mature security postures that deployed tools including artificial intelligence (AI), automation, zero trust, and cloud security saw significantly lower costs.
IBM’s report indicates that around 35% of the surveyed organizations had implemented a zero-trust security approach, and 48% of those were in the mature stage. The average data breach cost for companies with a mature zero-trust strategy was $3.28 million, which was $1.76 million less than the ones without zero trust. ... '
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