From IT-Online:
IBM Security’s newly-released annual Cost of a Data Breach Report says that the global average cost of a data breach reached $4,45-million in 2023 – an all-time high for the report and a 15% increase over the last three years.
Detection and escalation costs jumped 42% over this same time frame, representing the highest portion of breach costs and indicating a shift towards more complex breach investigations.
According to the latest report, businesses are divided in how they plan to handle the increasing cost and frequency of data breaches. The study found that while 95% of studied organisations have experienced more than one breach, breached organisations were more likely to pass incident costs on to consumers (57%) than to increase security investments (51%).
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