IBM Report: Average Cost of Data Breaches Exceeds $10 Million
SecurityWeek
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Contributed by: Drex DeFord
Summary
The latest IBM report reveals that the average cost of data breaches in the U.S. has surged to $10.22 million, underscoring the escalating financial impact of cyberattacks on organizations. Rising expenses are attributed to increasingly sophisticated attacks and the need for compliance with a growing regulatory framework, emphasizing the critical need for enhanced cybersecurity measures. The report highlights that rapid breach identification and response can significantly reduce costs, pointing to the importance of efficient incident management. Additionally, it notes that while emerging technologies pose new risks, they also present vital opportunities for organizations to bolster their defenses and lower breach costs.
