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SA Data Breach Costs Reached Record Highs During Pandemic - IBM - IT News Africa - Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and Reports

IBM Security announced the results of a recent study that found that data breaches now cost South African companies $3-million (R46-million) on average – the highest cost in the 6-year history of the report. Worldwide, the average financial damages caused by a data breach increased by nearly 10% year over year to $4.24 million in […]

SA companies fork out record amounts for data breaches

SA companies fork out record amounts for data breaches
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Data breaches cost SA firms R46m on average, highest in six years – IBM Security

Data breaches cost SA firms R46m on average, highest in six years – IBM Security
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The cost of data breaches have reached record highs during the pandemic

The cost of data breaches have reached record highs during the pandemic
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Attacks on Covid-19 response industries double

Mar 2, 2021 Cyberattacks evolved in 2020 as threat actors sought to profit from the unprecedented socioeconomic, business and political challenges brought on by the Covid-19 pandemic. In 2020, IBM Security X-Force observed attackers pivoting their attacks to businesses for which global Covid-19 response efforts heavily relied, such as hospitals, medical and pharmaceutical manufacturers, as well as energy companies powering the Covid-19 supply chain. According to the 2021 X-Force Threat Intelligence Index, cyberattacks on healthcare, manufacturing, and energy doubled from the year prior, with threat actors targeting organisations that could not afford downtime due to risks of disrupting medical efforts or critical supply chains. In fact, manufacturing and energy were the most attacked industries in 2020, second only to the finance and insurance sector. Contributing to this was attackers taking advantage of the nearly 50% increase in vulnerabilities in industrial control systems (I

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