ResourcesJuly 31, 2022IBM Cost of a Data Breach 2022 Report

For the 17th year, IBM has commissioned to the Ponemon Institute and then analysed and published The Cost of a Data Breach Report which “offers IT, risk management and security leaders a lens into factors that can increase or help mitigate the rising cost of data breaches”. The study was run through more than 3,600 interviews involving 550 organizations impacted by data breaches between March 2021 and March 2022. The incidents spread throughout 17 countries and types of industries. The costs reported are related to both the immediate response and the long-term ones. The report “examines root causes, short-term and long-term consequences of data
breaches, and the mitigating factors and technologies that allowed companies to limit losses”.

Over the previous year, the average cost of a data breach rose of 13% to a staggering USD 4.35m. These costs have a direct impact on users and consumers in 60% of the cases. 83% of the researched organisations have experienced more than one data breach in their lifetime, and nearly 50% of the costs are incurred more than a year after the breach. Request the Report from IBM here.