IBM, in its annual report, reveals the costs generated by the Data breaches in the industry as a result of cyberattacks, costing organizations close to 4 million dollars for each event, which includes both the data breach, as well as the recovery of the systems and the protection of these systems.
The report reveals that The best allies for saving time and money in these cases are automation and the use of Artificial Intelligenceas they allow you to detect, respond to, and recover from these attacks more quickly.
In general terms, companies that use this type of technology have saved an average of approximately three million dollarsas well as they have been down only about 74 days on average due to these data breaches.
On the contrary, to companies that have not yet incorporated artificial intelligence or have automated computer processes, It has cost them an average of 277 days for the process to identify and contain the violation of which they are the object. The report indicates that the containment and identification of these breaches in 200 days can save you around 1.12 million dollars.
The figures revealed in the report are high, even more so for the United States, which, According to the report, it costs North America, on average, about 9.44 million dollars for these data violations, while for the rest of the world the cost of violations is estimated at about 4.35 million dollars, that is, in the United States it costs more double what it costs in other parts of the world.
The report further reveals that The most affected sector this year was again health, costing an average of 10 million dollars for data breachesand that said violations have increased by 42% since 2020.
The infection vectors are once again led by Phishing, followed by commercial email, third-party software, theft of credentials or hacking of these credentials, malware, cloud configuration errors, social networks, physical security compromise , loss of data or access device and finally due to errors in the system.
In relation to ransomware, the report reveals that attacks grew by 41% compared to 2021, and that due to its current complexity it now took about 49 days longer to identify and contain the data breach than in 2021, in addition to costing global lines about 4.54 million dollars. Computer systems that suffer destructive attacks cost an average of $5.12 million per year.
Cybersecurity specialists agree that it is no longer enough to just have a plan designed for a possible attack, the basis of success lies in testing that plan designed to be able to verify security, and in the event of a breach, determine if the planned solution is effective, and thus be able to avoid intrusions and the expenses associated with attacks.
They also agree that nearly half of all data breaches occur in the cloud, on average 45% of the infringements that have been registered in the last year have been from data in the cloud. Compared to organizations with a public or private cloud model, Those with a hybrid model have a lower average cost for data breach, reaching about 3.8 million dollars.
The data in the report indicates that organizations that use a private cloud to safeguard company data, a data breach amounts to $4.24 million. While companies that choose to use a public cloud for the protection of the data it is even greater in relation to the cost generated by a breach, on average it generates a cost of approximately 5 million dollars.
With these data revealed by IBM, It is imperative for organizations to implement containment plans, local backup copies and frequent use of firewalls, data loss prevention policies, endpoint software, among other types of practices to minimize breaches..
The study reveals that the making a contingency plan and constantly testing it implies improving the response capacityand in that sense, organizations that are able to preemptively execute and improve these action plans save more than $2 million in data breaches.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
It may interest you:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.