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How much does a data leak cost?

That the volume of security incidents has not stopped growing, steadily, for some years now, is something fully known, the cybercrime industry is living a golden age that, unfortunately, shows no signs of exhaustion. In the short and medium term we can be sure that the figures will continue to grow and that every day we will face new threats that will be added to those already existing, causing a situation of insecurity that requires taking as many measures as are in our hands. .

An argument that, surprising as it may be, is still heard today to excuse the adoption of the same is related to the costs of adopting said measures. And it is of little or no use that the cybersecurity sector diversifies its catalog of solutions to adapt to all types of budgets, even so we continue and will continue to see companies that decide not to make that investment and, instead, buy enough coupons for the draw of a security breach.

Therefore, to combat this attitude that, although reduced, is still present today, reports such as the Cost of a Data Breach, published annually by IBM, are so usefuland that in addition to a complete X-ray of the current situation regarding the security breaches that affect companies, it compiles all the necessary information to be able to offer us some very clear and forceful metrics, such as the average cost faced by the companies that have suffered them during this year.

And if the number of threats has grown, the same can be said of their cost, whose average is quantified by IBM at 4.35 million dollars, an absolute record compared to previous years. To arrive at this figure, the IBM report is based on an in-depth analysis of real-world data breaches experienced by 550 organizations worldwide between March 2021 and March 2022. The research, which was sponsored and analyzed by IBM Security, was conducted by the Ponemon Institute.

Some sectors are affected much more than others, although there is not a single one that can relax and think that they are out of risk. A clear example of the most threatened is the health sectorin which the average cost to be faced by a security breach is 10.1 million dollars, an increase of 42% compared to that calculated just two years ago, for the 2019-2020 financial year.

The perpetuity of cyberattacks is also shedding light on the “hounding effect” data breaches are having on businesses, as the IBM report reveals that el 83% of organizations studied have experienced more than one data breach. Another factor that increases over time is the after-effects of attacks on these organizations, which linger long after they occur, with nearly 50% of incident costs occurring more than a year after they occur. that have occurred.

«Companies have to put their security defenses on the offensive and defeat attackers. It’s time to stop the adversary from achieving their goals and start minimizing the impact of attacks. The more companies try to perfect their perimeter instead of investing in detection and response, the more breaches can fuel the rising cost of livingsaid Charles Henderson, Global Head of IBM Security X-Force. «This report shows that the right strategies coupled with the right technologies can help make a difference when businesses come under attack.«.

And what is Henderson referring to when he talks about the incidence of cyberattacks on the cost of living? Well, in the same report we can verify that, in many cases, the companies affected by the attacks have been forced to increase the price of their products and services to be able to face the extraordinary costs caused by said attacks.

The entry How much does a data breach cost? appears first in MuyComputerPRO.

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