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ARTICLE · 16 JUNE 2022

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The Alarming Costs Of A Data Breach

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People have no trouble walking away from a business when they feel that their personal information isn't adequately protected.

CanadaPrivacy
Alysia Christiaen
Alysia Christiaen
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People have no trouble walking away from a business when they feel that their personal information isn't adequately protected. I'd be willing to bet that fewer people are getting double-doubles after learning of a certain company's data practices with its app.

A recent report should be enough to make executives sit up at night worrying about whether their company's data is secure. The report from IBM Security analyzed 537 data breaches across 17 countries and 17 industries. Some of the findings are alarming.

  • The average cost of a data breach has risen to $4.24 million (USD), a 10% increase. This is the largest single-year increase in 7 years.
  • In situations involving working from home as a factor in the breach, the average cost was $1.07 million higher.

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