Category Archives: Cost of Data Breach

Third-party access: The overlooked risk to your data protection plan

Posted on by

A recent IBM Cost of a Data Breach report reveals a startling statistic: Only 42% of companies discover breaches through their own security teams. This highlights a significant blind spot, especially when it comes to external partners and vendors. The financial stakes are steep. On average, a data breach affecting multiple environments costs a whopping […]

The post Third-party access: The overlooked risk to your data protection plan appeared first on Security Intelligence.

Continue reading Third-party access: The overlooked risk to your data protection plan→

Exploring DORA: How to manage ICT incidents and minimize cyber threat risks

Posted on by

As cybersecurity breaches continue to rise globally, institutions handling sensitive information are particularly vulnerable. In 2024, the average cost of a data breach in the financial sector reached $6.08 million, making it the second hardest hit after healthcare, according to IBM’s 2024 Cost of a Data Breach report. This underscores the need for robust IT […]

The post Exploring DORA: How to manage ICT incidents and minimize cyber threat risks appeared first on Security Intelligence.

Continue reading Exploring DORA: How to manage ICT incidents and minimize cyber threat risks→

Skills shortage directly tied to financial loss in data breaches

Posted on by

The cybersecurity skills gap continues to widen, with serious consequences for organizations worldwide. According to IBM’s 2024 Cost Of A Data Breach Report, more than half of breached organizations now face severe security staffing shortages, a whopping 26.2% increase from the previous year. And that’s expensive. This skills deficit adds an average of $1.76 million in […]

The post Skills shortage directly tied to financial loss in data breaches appeared first on Security Intelligence.

Continue reading Skills shortage directly tied to financial loss in data breaches→

The cybersecurity skills gap contributed to a $1.76 million increase in average breach costs

Posted on by

Understaffing in cybersecurity — the “skills gap” — is driving up the cost of data breaches in recent years, according to a decade of reports by IBM. The 2024 IBM Data Breach Report found that more than half of breached organizations experienced severe security staffing shortages, a 26.2% increase from the previous year. They found […]

The post The cybersecurity skills gap contributed to a $1.76 million increase in average breach costs appeared first on Security Intelligence.

Continue reading The cybersecurity skills gap contributed to a $1.76 million increase in average breach costs→

How to embrace Secure by Design principles while adopting AI

Posted on by

The rapid rise of generative artificial intelligence (gen AI) technologies has ushered in a transformative era for industries worldwide. Over the past 18 months, enterprises have increasingly integrated gen AI into their operations, leveraging its potential to innovate and streamline processes. From automating customer service to enhancing product development, the applications of gen AI are […]

The post How to embrace Secure by Design principles while adopting AI appeared first on Security Intelligence.

Continue reading How to embrace Secure by Design principles while adopting AI→

Cost of data breaches: The business case for security AI and automation

Posted on by

As Yogi Berra said, “It’s déjà vu all over again.” If the idea of the global average costs of data breaches rising year over year feels like more of the same, that’s because it is. Data protection solutions get better, but so do threat actors. The other broken record is the underuse or misuse of […]

The post Cost of data breaches: The business case for security AI and automation appeared first on Security Intelligence.

Continue reading Cost of data breaches: The business case for security AI and automation→

Cost of a data breach: The industrial sector

Posted on by

Industrial organizations recently received a report card on their performance regarding data breach costs. And there’s plenty of room for improvement. According to the 2024 IBM Cost of a Data Breach (CODB) report, the average total cost of a data breach in the industrial sector was $5.56 million. This reflects an 18% increase for the […]

The post Cost of a data breach: The industrial sector appeared first on Security Intelligence.

Continue reading Cost of a data breach: The industrial sector→

Cost of a data breach 2024: Financial industry

Posted on by

According to the IBM Cost of a Data Breach 2024 report, the average global breach cost has reached $4.88 million — a significant increase over last year’s $4.45 million and the biggest jump since the pandemic. For financial industry enterprises, costs are even higher. Companies now spend $6.08 million dealing with data breaches, which is […]

The post Cost of a data breach 2024: Financial industry appeared first on Security Intelligence.

Continue reading Cost of a data breach 2024: Financial industry→

Cost of a data breach: The healthcare industry

Posted on by

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 […]

The post Cost of a data breach: The healthcare industry appeared first on Security Intelligence.

Continue reading Cost of a data breach: The healthcare industry→

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

Posted on by

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 […]

The post Cost of a data breach: The evolving role of law enforcement appeared first on Security Intelligence.

Continue reading Cost of a data breach: The evolving role of law enforcement→