The average cost of a data security breach has hit another record-high of $4.35 million per incident, growing 12.7% over the past two years. And some businesses are passing the buck to customers, even as the cost of products and services has climbed amidst inflation and supply chain constraints.
This year’s figure was up 2.6% from last year’s $4.24 million per breach, according to IBM’s 2022 Cost of Data Breach report, which further revealed that 83% of companies surveyed had experienced more than one data breach. Conducted by Ponemon Institute, the report analysed 550 organisations across 17 global markets that were impacted by data breaches between March 2021 and March 2022.
