Nearly one in five breaches were attributed to some sort of supply chain attack which is why it isn’t just about your own cybersecurity measures, but the efforts of all your business partners, service providers and vendors. Not all breached organizations were directly targeted for attack. Ransomware was responsible for 11% of breaches. Phishing was the second most common attack vector, attributing to 16% of the breaches and these breaches proved the costliest at $4.91 million. These breaches had the longest lifecycle as well, taking a full 243 days to discover the breach and an additional 84 days to contain it. The study found that 60% of the data breaches experienced by organizations resulted in price increases.įraudulent use of stolen or compromised credentials remains the most common cause of a data breach, contributing to 19% of all data breaches covered in the study. Financial service organizations, pharmaceuticals, technology firms and energy companies rounded out the top five.ĭata breach costs have become a cost of doing business which usually means those costs are passed on to the customer in some way. For the 12 th year in a row, healthcare was the costliest industry at $10.10 million, an increase of 41.6% over the 2020 report. The average data breach costs for organizations in these industries were $1 million more than the average cost for organizations deemed non-critical. The Ponemon report identifies a special category called critical infrastructure organizations, which includes organizations in industries such as financial services, energy, communication, transportation, healthcare, industrial, education, and the public sector. Organizations in the United States experienced the highest average cost of any nation ($9.44 million). Keep in mind that this is the average global cost. This represents as a 2.6% increase over the previous year and a 12.7% increase over two years. On average, the cost of a data breach today has reached an all-time record at 4.35 million in 2022. It seems that the price of nearly everything has risen in 2022 and that goes for data breach costs as well. Below we have summarized the key findings revealed by the study. Some of these issues include supply chain compromises, remote and hybrid work strategies, ransomware, and other destructive attacks in addition to how the security skills gap continues to challenge the industry. This year’s report placed a greater emphasis on the issues that are contributing to higher data breach costs. The common denominator for the organizations used in this study was that they had been impacted by a data breach between March 2021 and March 2022.Įach year the makeup of the report changes slightly. The information was collected from more than 3,600 interviews with individuals across the affected organizations. A total of 17 industries were represented by them. This year, Ponemon studied 550 organizations located across 17 countries. For 17 years the Institute has released its compiled findings of its annual study, providing risk management and security leaders insights into the monetary cost structure of data breaches. The share of breaches by ransomware grew from 7.8% in 2021, to 11% in 2022, a growth rate of 41%.The Ponemon Institute recently published their Cost of a Data Breach 2022 Report. The good news is the average cost of a ransomware attack – not including the ransom payment – went down slightly in 2022, from $4.62 million to $4.54 million. Health care has been the highest cost industry for 12 years in a row. In health care, breach costs increased 42%, growing from $7.13 million in 2020 to $10.10 million in 2022. Those with AI security also saw a data breach lifecycle that was 74 days shorter than the average of those without it. Those that reported full deployment experienced breach costs that were $3.05 million less than those without it. Most organizations are now using security AI and automation, with 70% now deploying it, up from 59% in 2020. For those experience a breach, 60% said they increased the prices of goods and services as a result of losses from the breach. The report reveals that 83% of organizations have experienced more than one data breach, while only 17% said this was their first data breach. The average cost of a data breach hit an all-time high of $4.35 million this year, up 2.6% from a year ago and 12.7% from 2020, according to 2022 Cost of a Data Breach Report conducted by Ponemon Institute and IBM Security.
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