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Data breach costs, consequences | Professional Security

IBM’s Cost of a Data Breach 2023 report shows an increase in data breach costs with an average cost now at $4.45 million, a 15.3% rise from 2020. Smaller companies, particularly those with fewer than 500 employees, are disproportionately affected, seeing costs rise by 13.4% to an average of $3.31 million. The report also found that 51% of companies are planning to increase their security investments, and identified phishing, compromised credentials and cloud misconfiguration as the most common attack vectors.

Source: professionalsecurity.co.uk –

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