IBM finds cyberattacks costing companies nearly $ 4 million per hack

1641205135 IBM finds cyberattacks costing companies nearly 4 million per

The study showed solid financial benefits by acquiring security systems and crews.

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A data breach is now costing companies nearly $ 4 million according to a new report from IBM Security and the Ponemon Institute released Wednesday. Annual Data Breakdown Report Cost provides an in-depth overview of the financial impact of small, medium and large breaches. Researchers with the Ponemon Institute interviewed more than 3,000 people working for 524 organizations that suffered data breaches between August 2022 and April 2022 from a variety of industries and countries.

On average, outbreaks now cost $ 3.86 million per attack, with the United States having the highest average cost per fracture and health care being the most hit industry. Personally identifiable information was revealed in 80% of these incidents, and more than 75% of respondents expected that teleworking would make a company's data breach response even more difficult than it already is.

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“When it comes to the ability of businesses to mitigate the impact of data breaches, we are beginning to see a clear benefit for companies that have invested in automation technologies,” said Wendi Whitmore, IBM vice president X-Force Threat Intelligence.

"At a time when businesses are expanding their digital footprint at an accelerated pace and the security industry's talent shortage continues, teams can be desperate to gain more tools, systems, and data. Security automation can help to alleviate this burden, not only enabling a faster breakdown response but also a much more cost - effective one. "

IBM Security has been supporting the study for five years but the Ponemon Institute has conducted the research and compiled the report for 15 years. The breaches in the report were as little as 3,400 records missing and as many as 99,730.

Index

    Cost change in bankruptcy

    The report found significant differences in the cost of breaches depending on the security situation of an organization. Enterprises with fully-fledged security technology that included automation lost about $ 2.45 million in bankruptcy, while those that did not see a loss exceeded $ 6 million.

    State-backed attacks were the worst of the worst, averaging around $ 4.4 million. The number of figures related to the cost of attacks was raised by cybercriminals and hacktivists, who make up more than half of all attackers in most breach cases, the study said.

    "While the average cost per lost or stolen record was $ 146 over all data breaches, those with PII customers cost $ 150 per negotiation transaction. cost per record of a PII customer to $ 175 in breach caused by a malicious attack, "the study said. "Anonymous messenger data accounted for 24% of breaches in the study, at an average cost of $ 143 per record, which rose to $ 171 per record in breaches caused by malicious attacks."

    Types of Vulnerability and Attacks

    The most common attacks included stolen or compromised credentials and third-party vulnerabilities. According to the survey, nearly 20% of all companies that suffered from data breaches reported that it came from compromised credentials.

    More than half of the breaches reported in the report were due to malicious attacks, and human error and system wisdom were also reasons for compromising data.

    In addition to stolen credentials, it is another major source of problems for many disorganized cloud server groups. Other studies this year have shown that the problem costs companies nearly $ 5 trillion. An IBM report said that cloud-based breaches broke down to the average cost of breaking up more than half a million dollars to $ 4.41 million.

    A number of factors included costs incurred as a result of bankruptcy, most notably business losses. According to the report, nearly 40% of the average cost of a break-in came from a lost business that included things like customer turnaround, the system’s downtime causing revenue revenues. lost entry, and a “diminished” reputation due to transparency surrounding breaches.

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    To address all of this, dozens of businesses have turned to automation, and the report found that the use of artificial intelligence (AI) platforms and automated break-in orchestration machines has amassed to 21 %, up from just 15% in 2022.

    The decision not to use one of these security tools was proven costly, with the study showing that enterprises that decided not to use them had an average cost of data breaches. 'grow to over $ 6 million.

    The study included a section dedicated to major breaches and included findings that said breaches where there were more than 50 million open records saw costs skyrocket to $ 392 million compared to $ 388 million the previous year. For breaking at least a million records, campaigns lost an average of $ 50 million.

    In terms of time spent identifying fractures, the study found that, on average, organizations needed more than 200 days to find a break and a further 73 days to take it in full. in 2022. These figures were much higher for specific industries such as healthcare (329 days) or much lower for areas such as finance (233 days)

    The U.S. has the highest break-even costs

    In terms of how the breaks are broken down geographically and by industry, the United States and the healthcare industry led the package with the highest costs associated with the average breakdown.

    "The United States continued to experience the highest data breach costs in the world, at $ 8.64 million on average, followed by the Middle East at $ 6.52 million. The average total cost increased in 12 of 16 countries or regions surveyed in both 2022 and 2022, with the largest increase in Scandinavia, at 12.8%, "the report said.

    “For the tenth year in a row, Healthcare maintained the highest average fracture costs at $ 7.13 million - an increase of 10.5% over the 2022 survey. Similarly, the energy sector has seen a 14.1% increase since 2022, an average of $ 6.39 million in 20225 survey. In total, 13 of 17 businesses experienced an average year - over - year cost decline, with the lowest levels coming in the media, education, public sector and hospitality. "

    Worldwide invasion

    The study included breaches from several regions and countries such as India, the United Kingdom, Germany, France, Brazil, Japan, Canada, South Korea, Australia, and Italy.

    Malicious attacks were most common in the Middle East, Germany, and Australia while South Africa, Brazil, and Canada had the lowest percentage of malicious attacks, according to the her report. The largest number of data breaches in Canada were caused by systemic wisdom, and Southeast Asia as well as Italy had the highest percentage of data breaches caused by human error.

    Businesses such as technology, transport, sales and finance saw the highest percentage of malicious attacks but the entertainment industry, public sector and consumers had the highest percentage of data breaches. caused by human error. The report said that system wisdom is usually the main cause of disruption in research, public sector and transport.

    The report also goes into what kind of malicious attacks were worst, highlighting the specific destruction inflicted by ransomware.

    "Malicious attacks that destroy data in malicious / wiper-style attacks (average cost $ 4.52 million) and ransomware attacks ($ 4.44 million) were more expensive than the average malicious hack ($ 4.27 million) or average data breach ($ 3.86 million), "the report said.

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