BENGALURU: The cost of data breaches for companies has risen to $4.2 million per incident worldwide, the highest in 17 years, according to one. ibm report good.
Based on an analysis of real-world data breaches experienced by more than 500 organizations, the study shows that massive operational changes during the pandemic made security incidents more expensive and difficult, with costs increasing by 10% over the past year. % increased by.
While the pandemic made it imperative for most people to move to remote working conditions and other cloud-based activities, the pace of security progress could not keep pace with change.
“While the cost of data breaches has reached record highs in the past year, the report also shows positive signs about the impact of modern security strategies such as AI, automation and the adoption of zero-trust approaches – which pay off in reducing can cost these events further down the line,” said Chris McCurdy, VP and GM IBM Security.
In India, the average total cost of a data breach was Rs 16.5 crore, an increase of 18% compared to 2020. The cost per lost or stolen record was Rs 5,900, which was about 7% higher.
Compared to people in this group without this factor, breaches cost an average of more than $1 million ($4.9 million versus $3.8 million) when remote working without this factor was indicated as a factor. The report noted that healthcare, retail and hospitality, which faced major operational challenges during the pandemic, also experienced substantial increases in data breach costs year over year. Health care Worst hit with breaches costing $9.2 million, compared to $7.2 million a year ago.
Based on an analysis of real-world data breaches experienced by more than 500 organizations, the study shows that massive operational changes during the pandemic made security incidents more expensive and difficult, with costs increasing by 10% over the past year. % increased by.
While the pandemic made it imperative for most people to move to remote working conditions and other cloud-based activities, the pace of security progress could not keep pace with change.
“While the cost of data breaches has reached record highs in the past year, the report also shows positive signs about the impact of modern security strategies such as AI, automation and the adoption of zero-trust approaches – which pay off in reducing can cost these events further down the line,” said Chris McCurdy, VP and GM IBM Security.
In India, the average total cost of a data breach was Rs 16.5 crore, an increase of 18% compared to 2020. The cost per lost or stolen record was Rs 5,900, which was about 7% higher.
Compared to people in this group without this factor, breaches cost an average of more than $1 million ($4.9 million versus $3.8 million) when remote working without this factor was indicated as a factor. The report noted that healthcare, retail and hospitality, which faced major operational challenges during the pandemic, also experienced substantial increases in data breach costs year over year. Health care Worst hit with breaches costing $9.2 million, compared to $7.2 million a year ago.
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