Category Archives: Cost of a Data Breach

Cost of a data breach: The healthcare industry

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Cyberattacks grow every year in sophistication and frequency, and the cost of data breaches continues to rise with them. A new report by IBM and the Ponemon Institute, the 2024 Cost of Data Breach Study, details the financial impacts of attacks across multiple industries. The global average cost of a data breach reached an all-time […]

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Surging data breach disruption drives costs to record highs

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Security teams are getting better at detecting and responding to breach incursions, but attackers are inflicting greater pain on organizations’ bottom lines. IBM’s recent Cost of a Data Breach Report 2024 found the global average breach hit a record $4.88 million. That’s a 10% increase from 2023 and the largest spike since the pandemic. While […]

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Cost of a data breach: The evolving role of law enforcement

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If someone broke into your company’s office to steal your valuable assets, your first step would be to contact law enforcement. But would your reaction be the same if someone broke into your company’s network and accessed your most valuable assets through a data breach? A decade ago, when smartphones were still relatively new and […]

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10 years in review: Cost of a Data Breach

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Today, the pace of world change astounds us, and cybersecurity reflects that, unlike any other industry. The data from the last decade tells us an amazing — and sometimes troubling — story. In 2014, the average cost of a data breach was $3.5 million. Today, the average cost of a data breach has surged nearly […]

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Cost of a data breach 2023: Geographical breakdowns

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Data breaches can occur anywhere in the world, but they are historically more common in specific countries. Typically, countries with high internet usage and digital services are more prone to data breaches. To that end, IBM’s Cost of a Data Breach Report 2023 looked at 553 organizations of various sizes across 16 countries and geographic […]

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Cost of a data breach 2023: Pharmaceutical industry impacts

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Data breaches are both commonplace and costly in the medical industry.  Two industry verticals that fall under the medical umbrella — healthcare and pharmaceuticals — sit at the top of the list of the highest average cost of a data breach, according to IBM’s Cost of a Data Breach Report 2023. The health industry’s place […]

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Australian Data Breach Costs are Rising — What Can IT Leaders Do?

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Australian data breach costs have jumped over the last five years to $2.57 million USD, according to IBM. Prioritizing DevSecOps and incident response planning can help IT leaders minimize the financial risk. Continue reading Australian Data Breach Costs are Rising — What Can IT Leaders Do?→

Cost of a data breach 2023: Financial industry impacts

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According to the IBM Cost of a Data Breach Report 2023, the global average cost of a data breach in 2023 was $4.45 million, 15% more than in 2020. In response, 51% of organizations plan to increase cybersecurity spending this year. For the financial industry, however, global statistics don’t tell the whole story. Finance firms […]

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Advanced analytics can help detect insider threats rapidly

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While external cyber threats capture headlines, the rise of insider threats from within an organization is a growing concern. In 2023, the average cost of a data breach caused by an insider reached $4.90 million, 9.6% higher than the global average data breach cost of $4.45 million. To effectively combat this danger, integrating advanced analytics […]

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What you need to know about protecting your data across the hybrid cloud

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The adoption of hybrid cloud environments driving business operations has become an ever-increasing trend for organizations. The hybrid cloud combines the best of both worlds, offering the flexibility of public cloud services and the security of private on-premises infrastructure. We also see an explosion of SaaS platforms and applications, such as Salesforce or Slack, where […]

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