Post by account_disabled on Dec 3, 2023 1:03:41 GMT -5
For the first time this year, the study, conducted by IBM Security and the Ponemon Institute, broke down costs by type of compromised records, which include customer personally identifiable information (PII), employee PII and proprietary intellectual (IP). The analysis found that customer data was by far the most commonly compromised type of record , with 80% of breached organizations reporting that customer PII was affected.
“ While the average cost per lost or stolen record was $146 for all data breaches, those containing customer PII cost businesses $150 per compromised record ,” the report states. Financial impact varies depending on the Country Email List type of attack However, the financial impact has also varied depending on a range of other factors. For example, if the breach was caused by a malicious attack, the cost increased to US$175. In contrast, if the incident impacted anonymous customer data, the average cost was US$143, but increased to US$171 if it resulted from a malicious attack.
Malicious attacks accounted for most breaches (52%), with system vulnerabilities (25%) and human errors (23%) coming in second and third, respectively. “ In addition to stolen or compromised credentials, misconfigured cloud servers are the most common initial threat vectors in breaches caused by malicious attacks, at 19%, ” IBM says. 270 days to identify a breach…. Loss of business remains one of the costliest effects of a data breach, accounting for nearly 40% of the cost and the cost increasing to $1.52 million from $1.42 million last year .
This figure takes into account increased customer turnover, lost revenue, and the higher cost of acquiring new business due to a damaged reputation. The average lifespan of a data breach was 280 days, including 207 days to identify the breach and an additional 73 days to contain it. These figures remained largely unchanged from the previous year. Not all sectors are equal in the face of attacks Additionally, there is a disparity between industries when it comes to life cycle length, also known as “dwell time ” .
The healthcare sector has the longest life cycle at 329 days, while the financial sector has a cycle of only 233 days. Of the 17 sectors studied, healthcare also accounts for the highest average cost at US$7.13 million per incident, maintaining its leadership position for the tenth consecutive year. It is worth mentioning that companies that tested an incident response (IR) preparedness plan or employed an IR team were able to save an average of US$2 million compared to companies that neither one nor the other.
“ While the average cost per lost or stolen record was $146 for all data breaches, those containing customer PII cost businesses $150 per compromised record ,” the report states. Financial impact varies depending on the Country Email List type of attack However, the financial impact has also varied depending on a range of other factors. For example, if the breach was caused by a malicious attack, the cost increased to US$175. In contrast, if the incident impacted anonymous customer data, the average cost was US$143, but increased to US$171 if it resulted from a malicious attack.
Malicious attacks accounted for most breaches (52%), with system vulnerabilities (25%) and human errors (23%) coming in second and third, respectively. “ In addition to stolen or compromised credentials, misconfigured cloud servers are the most common initial threat vectors in breaches caused by malicious attacks, at 19%, ” IBM says. 270 days to identify a breach…. Loss of business remains one of the costliest effects of a data breach, accounting for nearly 40% of the cost and the cost increasing to $1.52 million from $1.42 million last year .
This figure takes into account increased customer turnover, lost revenue, and the higher cost of acquiring new business due to a damaged reputation. The average lifespan of a data breach was 280 days, including 207 days to identify the breach and an additional 73 days to contain it. These figures remained largely unchanged from the previous year. Not all sectors are equal in the face of attacks Additionally, there is a disparity between industries when it comes to life cycle length, also known as “dwell time ” .
The healthcare sector has the longest life cycle at 329 days, while the financial sector has a cycle of only 233 days. Of the 17 sectors studied, healthcare also accounts for the highest average cost at US$7.13 million per incident, maintaining its leadership position for the tenth consecutive year. It is worth mentioning that companies that tested an incident response (IR) preparedness plan or employed an IR team were able to save an average of US$2 million compared to companies that neither one nor the other.