Data breach costs hit record highs

In 2021, breaches cost companies an average of USD 4.24 million according to the latest Cost of a Data Breach report, sponsored by IBM Security.

From 2020, breach costs have increased 10% in 2021, reaching their highest level in the 17-year history of the report.

In 2021, the healthcare sector experienced the highest average breach costs for the 11th year in a row, costing $9.23 million  per breach.

Personally identifiable information (PII) was the most frequently breached data, costing an average of $180 per lost or stolen record.

Per IBM Security X-Force, the financial sector is targeted for its banking credentials and energy is a frequent ransomware target.

Financial services climbed from 3rd  to 2nd on the list of costliest industries, while energy dropped from 2nd to 5th in the last year.

Discover more breach trend analysis, factors that help mitigate financial loss and practices that help quantify risk  and improve security.