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 […]
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Adoption of AI, hybrid cloud, and zero trust approach lowered data breach costs
CAMBRIDGE, Mass., July 28, 2021 /PRNewswire/ IBM (NYSE: IBM) Security today announced the results of a global study which found that data breaches now cost surveyed companies $4.24 million per incident on average – the highest cost in the 17-year history of the report. Based on in-depth analysis of real-world data breaches experienced by over 500 organizations, the study suggests that security incidents became more costly and harder to contain due to drastic operational shifts during the pandemic, with costs rising 10% compared to the prior year.