![]() The shocking amount was calculated in IBM’s yearly report, where data breaches experienced by 550 organizations around the world were analyzed. This can lead to significant costs for companies that fall victim to these breaches.īased on the report from IBM Security, in 2022 the companies spent a whopping 4.4 million dollars on average for handling a single data breach, which is a 2.6% increase from the previous year and a 13% jump since 2020. This may include both unintentional breaches (such as when an employee accidentally sends protected data to an incorrect email address) as well as deliberate and financially motivated breaches targeting sensitive data in the company’s possession. Simply put, a data breach is every security incident in which an entity gains access to another entity’s information without authorization. However, in today’s digital age, data breaches have become an all too common occurrence for companies of all sizes. Only, what happens when unexpected costs occur, such as a security data breach exposing the customers’ personal data to unauthorized parties? And is it still reasonable to consider such costs as unexpected?Ī couple of decades ago, most companies did not perceive the likelihood of suffering a data breach as high, as this was something they only rarely heard of happening to others. ![]() ![]() When calculating the cost of running a business, companies typically tend to analyze factors such as labor cost, operating expenses, marketing and advertising, inventory, insurance, and taxes.
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