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The IBM 2024 Data Breach Report reveals a troubling trend https://lnkd.in/gjZ8URQx IBM2024DataBreachReport CybersecurityAwarenessMonth

The IBM 2024 Data Breach Report reveals a troubling trend https://lnkd.in/gjZ8URQx IBM2024DataBreachReport CybersecurityAwarenessMonth

Other key findings in the 2024 Cost of a Data Breach Report include: Stolen credentials topped initial attack vectors – At 16%, stolen/compromised credentials was the most common initial attack vector. These breaches also took the longest to identity and contain at nearly 10 months. Fewer ransoms paid when law enforcement is engaged – By bringing in law enforcement, ransomware victims saved on average nearly $1 million in breach costs compared to those who didn't – that savings excludes the ransom payment for those that paid. Most ransomware victims (63%) who involved law enforcement were also able to avoid paying a ransom. Critical infrastructure organizations see highest breach costs - Healthcare, financial services, industrial, technology and energy organizations incurred the highest breach costs across industries. For the 14th year in a row, healthcare participants saw the costliest breaches across industries with average breach costs reaching $9.77 million. Breach costs passed to consumers - Sixty-three percent of organizations stated they would increase the cost of goods or services because of the breach this year – a slight increase from last year (57%) – this marks the third consecutive year that the majority of studied organizations stated they would take this action.

FYI.. As if we need yet another reminder - data breaches are very costly Have you assessed your data breach (protection) plan lately? As it continues to be a major growing risk vector “…. IBM released its annual Cost of a Data Breach Report revealing the global average cost of a data breach reached $4.88 million in 2024, as breaches grow…. Escalating Data Breach Disruption Pushes Costs to New Highs https://lnkd.in/gnSaSJRs

According to new research from IBM, in 2024, the average cost of a data breach rose to $4.88 million, which is a 10% increase from last year. Recovering from a data breach is also taking longer, if ever. Only 12% of the organizations IBM surveyed said they considered themselves to have “fully recovered” from a breach. Among those, the average recovery time was over 100 days. https://lnkd.in/eY3RrajF

Cost of Data Breach in 2024: $4.88 Million, Says Latest IBM Study: The average cost of a data breach jumped to $4.88 million from $4.45 million in 2023, a 10% spike. The post Cost of Data Breach in 2024: $4.88 Million, Says Latest IBM Study appeared first on SecurityWeek.

High-profile "mega-breaches" that expose millions of sensitive data records can cost your business millions. That's why it's important for businesses like yours to look at database and big data security products not as isolated point solutions, but as a part of an overall corporate security strategy. What's your biggest data security obstacle? Comment 👇 with your answers and read this report to better understand which data protection products will best suit your unique business needs. #datasecurity #IBM

High-profile "mega-breaches" that expose millions of sensitive data records can cost your business millions. That's why it's important for businesses like yours to look at database and big data security products not as isolated point solutions, but as a part of an overall corporate security strategy. What's your biggest data security obstacle? Comment 👇 with your answers and read this report to better understand which data protection products will best suit your unique business needs. #datasecurity #IBM

Data powers much of the world economy—and unfortunately, cybercriminals know its value. Cyberattacks that aim to steal sensitive information continue to rise. According to IBM’s Cost of a Data Breach, the global average cost to remediate a data breach in 2023 was USD 4.45 million, a 15 percent increase over three years. #datasecurity #ciso #cto #ithead #siem #soar #edr #threatintelligence #encryption #pam #vapt #asm #ibm #ibmsecurity #ransomwareprotection #mdm #mobilesecurity #dataprotection #gartner #itmanager #databasesecurity #dam #cio #bfsi #datatheft

Key Takeaways From The IBM 2024 Cost Of A Data Breach Report https://lnkd.in/gacX8XmH