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Ransomware accounts for nearly 24 percent of incidents in which malware is used ( Verizon ).71 percent of breaches are financially motivated ( Verizon ).34 percent of data breaches in 2018 involved internal actors ( Verizon ).An average of 4,800 websites a month are compromised with formjacking code ( Symantec ).Read below to see how breaches happen, view average response times and learn other crucial information. There are many factors to consider when preparing for and managing a data breach, such as the amount of time it takes to respond to a data breach and the reputational impact it has on your company. The largest difference for breaches with a high level of compliance failures compared to a low level was $2.30 million ( IBM ).

The cost difference in breaches in which mature Zero Trust was deployed versus not was $1.76 million ( IBM ).Annually, hospitals spend 64 percent more on advertising the two years following a breach ( American Journal of Managed Care ).The average cost of a mega-breach in 2021 was $401 million for the largest breaches (50 – 65 million records), an increase from $392 million in 2020 ( IBM ).In 2021, the United States was the country with the highest average total cost of a data breach was at $9.05 million ( IBM ).39 percent of costs are incurred more than a year after a data breach ( IBM ).The average cost of a breach with a lifecycle over 200 days is $4.87 million ( IBM ).In 2021, lost business opportunities represented the largest share of breach costs, at an average total cost of $1.59 million ( IBM ).The average total cost for healthcare increased from $7.13 million in 2020 to $9.23 million in 2021, a 29.5 percent increase ( IBM ).The average per record (per capita) cost of a data breach increased by 10.3 percent from 2020 to 2021 ( IBM).

The average total cost of a ransomware breach is $4.62 million, slightly higher than the average data breach of $4.24 million ( IBM).

See below to find out just how expensive it is to experience a breach and what elements cause the cost to rise even more. Indirect costs include in-house investigations and communication, as well as customer turnover or diminished rates from a company’s impacted reputation after breaches. To calculate the average cost of a data breach, security institutes collect both the direct and indirect expenses suffered by the breached organization.ĭirect expenses include forensic experts, hotline support, credit-monitoring subscriptions and potential settlements. It’s no secret that data breaches are costly for businesses. For more in-depth security insights check out our data breach whitepapers.