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It is estimated that the average cost of a data breach will be over $150 million by 2020, with the global annual cost forecast to be $2.1 trillion. [ 2 ] [ 3 ] As a result of data breaches, it is estimated that in first half of 2018 alone, about 4.5 billion records were exposed. [ 4 ]
The General Data Protection Regulation (GDPR) is a European Union regulation that specifies standards for data protection and electronic privacy in the European Economic Area, and the rights of European citizens to control the processing and distribution of personally-identifiable information.
In 2016, researcher Sasha Romanosky estimated that while the mean breach cost around the targeted firm $5 million, this figure was inflated by a few highly expensive breaches, and the typical data breach was much less costly, around $200,000. Romanosky estimated the total annual cost to corporations in the United States to be around $10 billion.
According to the Identity Theft Resource Center, 2023 was a record year for cyberattacks in the U.S., with over 3,200 data breaches reported, up from 1,800 in 2022.
If you worry about identity theft and credit card fraud, this week's news has been troubling. Target revised upward the number of customer accounts compromised by hackers from 40 million to 110 ...
According to an IBM report, the average cost of a data breach in 2019 was $3.92 million, while a healthcare industry breach usually costs $6.45 million. However, the average cost of a healthcare data breach (average breach size 25,575 records) in the U.S. is $15 million. [16]
The hacking group USDoD claimed it had allegedly stolen personal records of 2.9 billion people from National Public Data, according to a class-action lawsuit filed in U.S. District Court in Fort ...
According to cyber security and ai company SonicWall, the number of ransomware attacks grew by 105% globally. Major corporations around the world have fallen victim to high-profile data breaches, with the average cost of a data breach now estimated at $4.24 million, according to IBM. [5]