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Surging data breach disruption drives costs to record highs

IBM’s 2024 Cost of a Data Breach Report says the global average cost of a data breach has hit a record $4.88 million, a 10% increase from 2023. While security teams are improving breach detection and containment, rising business costs contributed to the hike. These expenses include loss of business, post-breach customer support, and regulatory fines. The study indicates that security AI and automation technologies can help mitigate breach impacts and lower costs. Industry-wide staffing shortages increased breach costs while also prompting greater adoption of AI and automation.

Source: securityintelligence.com –

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Identity and Access Management (IAM)

Identity and Access Management (IAM)

CISOs face mounting pressure to secure digital identities, with 80% of breaches stemming from compromised credentials. Identity and Access Management (IAM) must evolve into a