Category Archives: Cost of Data Breach

Security Automation Can Save You $3.05M in a Data Breach

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When it comes to reducing security breach costs, companies with security artificial intelligence (AI) and automation can save millions, per a new report. According to the most recent IBM Cost of a Data Breach Report, organizations with fully deployed security AI and automation save $3.05 million per data breach compared to those without. That’s a 65.2% […]

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Cost of a Data Breach: Banking and Finance

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The importance of cybersecurity has touched almost every industry. Beyond that, robust cybersecurity is table stakes for several sectors, particularly health care and the banking and finance industry. Not only is financial data at risk, but so is customer trust. In banking and finance, trust means everything.  Yet, consumers are hesitant to share their confidential […]

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How to Prepare for and Respond to a Data Privacy Breach

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Before I started covering cybersecurity, I thought the term ‘breach’ had a single meaning — that an attacker stole data from a computer system. I also thought all the different versions of the word meant the same thing. However, I’ve since learned the nuances and differences between a breach, a data breach and a data […]

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What’s New in the 2022 Cost of a Data Breach Report

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The average cost of a data breach reached an all-time high of $4.35 million this year, according to newly published 2022 Cost of a Data Breach Report, an increase of 2.6% from a year ago and 12.7% since 2020.

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Top Cybersecurity Threats Around the Globe

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Cybersecurity threats, risks and challenges vary a lot from one region to the next and one nation to the next. Targets vary based on local resources to exploit. Cyber criminals and nation-state attackers zero in on specific nations, companies and organizations for varying incentives.  Of course, the COVID-19 pandemic exacerbated cybersecurity threats. Attackers might launch […]

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Report: Cost of a Data Breach in Energy and Utilities

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On average, the cost of a data breach rose by 10% from 2020 to 2021. The energy industry ranked fifth in data breach costs, surpassed only by the health care, financial, pharmaceutical and technology verticals, according to the 17th annual Cost of a Data Breach Report. Some energy cybersecurity measures can help reduce the cost […]

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How to Quantify the Actual Cost of a Data Breach for Your Own Organization

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As business leaders, we need to know what the biggest risks to our organizations are. All organizations face numerous disruptive challenges in today’s business environment that can create significant new business opportunities, but also can increase potential cybersecurity risks to the organizations. To address these issues, we need to focus our scarce resources on those […]

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Pay Now or Pay Later: Don’t Procrastinate When It Comes to Preventing Ransomware

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Data breaches like ransomware can be catastrophic for some businesses. Not only do affected organizations lose revenue from the downtime that occurs during the incident, the post-breach costs can be significant. These costs can include everything from the time and resources it takes to detect how the compromise occurred and remediate the actual threat to […]

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How AI Prevents Fatigue After Data Breaches

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I have data breach fatigue. Every day, my inbox is flooded with dozens of emails about the newest data breaches and what causes them. Five years ago, I took note of every company listed and the mistakes made that led to the breach. Today, I barely skim them. How many times can I read that a […]

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Data Breach Costs at Record High, Zero Trust, AI and Automation Help Reduce Costs

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Data breaches have been growing in numbers and scale, taking longer to detect and contain. The average total cost of a data breach is at its highest of 17 years, at $4.24 million. The year over year increase of 10% is the largest single year cost increase recorded in the last 7 years. IBM and […]

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