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Average Cost of a Data Breach Rises to $4.9 Million

IBM’s “Cost of a Data Breach Report 2024” reveals that engaging law enforcement after a ransomware attack can reduce costs by an average of $1 million. Businesses cooperating with authorities investigate and resolve breaches faster and are less likely to pay a ransom. Data breaches are becoming more expensive, hitting a record average of $4.9 million, up 10% year-on-year, largely due to business disruption and post-breach expenses.

Source: www.bankinfosecurity.com –

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