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Cyberattacks on businesses are rising, including small businesses. According to the Verizon 2023 Data Breach Investigations Report, the median cost per ransomware attack — which features a type ...
Data breaches go beyond pilfering a few transaction records or trade secrets. The potential for harm is colossal. Here is a quick rundown on what a data breach can potentially cost your enterprise:
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]
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 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]
The state's government said it was among multiple organizations impacted by a software vulnerability.
In the first six months of 2017, two billion data records were stolen or impacted by cyber attacks, and ransomware payments reached US$2 billion, double that in 2016. [6] In 2020, with the increase of remote work as an effect of the COVID-19 global pandemic, cybersecurity statistics reveal a huge increase in hacked and breached data. [ 7 ]
European Union privacy watchdogs hit Facebook owner Meta with fines totaling 251 million euros on Monday after an investigation into a 2018 data breach on the social media platform that exposed ...