Data breach costs hit record highs

[{"selector":"#anim-14cf6dbd-8bee-4ecd-aa7e-1b7ba130d625","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Data breach costs hit record highs

[{"selector":"#anim-5f0b3f7a-a4b1-4ee4-ad94-7689413d9a3e","keyframes":{"opacity":[0,1]},"delay":1000,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] 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.

[{"selector":"#anim-05ab8512-9cdd-4a6c-a34a-fe58f8a6e9b6","keyframes":{"opacity":[0,1]},"delay":1000,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] From 2020, breach costs have increased 10% in 2021, reaching their highest level in the 17-year history of the report.

[{"selector":"#anim-8da089f6-e7ed-4c39-9ef9-c069a652a81c","keyframes":{"opacity":[0,1]},"delay":1000,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] In 2021, the healthcare sector experienced the highest average breach costs for the 11th year in a row, costing $9.23 million per breach.

[{"selector":"#anim-ce0e8b21-d188-46ea-96f2-36a7eead536f","keyframes":{"opacity":[0,1]},"delay":1000,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Personally identifiable information (PII) was the most frequently breached data, costing an average of $180 per lost or stolen record.

[{"selector":"#anim-e73517c0-0d23-4a24-bf9a-4b0dcd00e9ff","keyframes":{"opacity":[0,1]},"delay":1000,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Per IBM Security X-Force, the financial sector is targeted for its banking credentials and energy is a frequent ransomware target.

[{"selector":"#anim-d6140788-568c-4cdc-9b8f-14e79826d915","keyframes":{"opacity":[0,1]},"delay":1000,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Financial services climbed from 3rd to 2nd on the list of costliest industries, while energy dropped from 2nd to 5th in the last year.

[{"selector":"#anim-d9dfc037-d292-4e5e-befa-9e4aefcc5b94","keyframes":{"opacity":[0,1]},"delay":1000,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Discover more breach trend analysis, factors that help mitigate financial loss and practices that help quantify risk and improve security.