Cost of a Data Breach Report is the study by the technology company IBM, which revealed that in Latin America data breaches They have an average cost of $2.09 million, a historic figure in the region. In addition, there was a 15% increase in the number of these problems compared to the previous year.
This report, which is based on an analysis of real cases experienced by 550 organizations worldwide, including 66 companies in Latin America; indicates that the average time it takes for an organization in this region to identify and control a data breach situation is one period of 331.5 days in 202225 days less than the one registered in the previous report.
At least in Latin America, the industries that had the highest cost per record in a breach are Health ($128), financial services ($124) and the service sector ($111).
In addition, almost half (45%) of the companies in the region have a mature level of ZeroTrust, a security model that prioritizes the computer security of organizations. These companies present a difference of more than $1.5 million in the costs of data leaks compared to those that have not yet finished implementing this model.
Clients pay the cost of leaks
Globally, one of the observations made by the report is that 60% of organizations they increased the price of their products or services after a leak despite the fact that today many of the goods are already rising in cost to the public.
On the other hand, it is reported that the vast majority of the organizations that were part of the study, in total 83%, have experienced a case of data breach at some time.
Diana Robles, Leader of IBM Security for Colombia, Peru, Ecuador, Venezuela and the Caribbean Region indicated that “in terms of security, the key for companies today is to invest in detection and response, which will allow them to be better prepared to advance in the face of leaks. of data that, as we see, can lead to cost-of-living increases and move to consumers.
Relevant data of the report
Among the global findings of the IBM report, it can be highlighted that ransomware victims who opted for pay the ransom of their data, they only saw a $630,000 decrease in the average cost of a breach compared to those that didn’t.
In addition, in the event of paying an amount of money to cybercriminals, the organizations that make this decision would be indirectly financing other attacks on organizations with money that could be used to improve the company’s cyber security.
With regard to the most common forms of attack that endanger the security of organizations, there are compromised credentials which, at 19%, remain the most common cause of a data breach and cost $4.5 million. The phishingfor its part, is the second cause of attacks, although the most expensive, with an average of 4.91 million dollars.
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