Data breaches and leaks cost the affected companies € 4 million

This is the estimate of an IBM report on cybersecurity incidents that have resulted in up to 100,000 record subtractions. The average figure for Italy is still at 3 million

(photo: Philipp Katzenberger / Unsplash) A case of data breach or leak costs an average of 4.24 million dollars for an affected company, an increase of the 10% in the last year, compared to a global average. This is what emerges from the latest edition of the Cost of a data breach study by IBM, according to which the cost caused by this type of incident is the highest in 17 years, that is, since the report was published, taking into consideration various parameters : loss of productivity and brand value, legal and regulatory factors and technical activities.

In the last seven years, the spread of spending and the damage related to cybersecurity cases for violations of up to 100,000 records had been maintained between $ 3.62 million (2017) and $ 4 (2016), while last year it stood at $ 3.8. One of the main causes weighing on the increase is the impact of remote working: in these cases, data breaches cost about one million dollars more (4.96 million dollars), compared to the episodes in which the distance did not affect (3.89).

The report examined the data leaks suffered by 537 companies around the world, involving 21 Italian companies in the survey. In our country, the damage caused by similar accidents therefore amounts to 3 million euros (3.61 million dollars), an increase compared to last year, when it was 2.54 million euros (3.19 million dollars) per company. The unenviable top five has remained the same as it was a year ago and is led by the United States ($ 9 million), followed by the Middle East, Canada, Germany and Japan. The healthcare sector remains the one that suffers the most and reaches 9.23 million dollars with an increase of over 2 million. Followed by financial (5.72 million), pharmaceutical (5), technological (4.88) and energy (4.65), which recorded the greatest decrease (-27.2%).

Time is increasing needed to detect (212 days) and contain (75) a data leak, in total one week more than last year. Personal data, emails and passwords are the most stolen and exposed information and are included in 44% of the cases studied. Given that 82% of respondents admit to reusing the same password on multiple accounts, the risk of a spiral effect is evident. The report also suggests some good practices: those who have adopted forms of artificial intelligence, security analytics, cryptography and a zero-trust approach have reduced the cost between 1.25 and 1.49 million dollars. In the case of the cloud, the hybrid model can boast lower breach costs than public or private.

As for mega data leaks, 50-65 million record breaches studied by IBM in a different analysis , we arrive at an average of 401 million dollars, a hundred times more.


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