data breaches. Let’s talk about how many data breaches there will be in 2022 and what you can do to protect yourself.
Contents hide
1 Key findings
2 What are the costs associated with a data breach?
3 How Many Data Breaches Will Cost More Than Money in 2023?
4 Which industries bear the highest costs from data breaches?
5 How many records were hacked in 2022?
6 What was done to mitigate the impact of the data breach?
7 What are the top five companies facing data breaches in 2022?
8 Conclusion
8.1 Related publications:
Key findings
In 2022, there were 4,145 publicly disclosed data breaches .
The average cost of a data breach in the US in 2023 will be $4.24 million.
Ransomware , cyber attacks and other forms of data breaches have increased in the past few years .
The world record for the largest ransom payment this year was $40 million and was paid by an insurance company.
38% of the costs associated with a data breach are lost business
It takes at least 58 days to detect and control a data leak in the remote sector.
In 2022, the cost of data breaches that affected between 50 and 65 million records was $401 million.
Zero-Trust Architecture protocols saved $1.76 million in data breach costs in 2022.
AI and automation were key technologies that helped companies find and localize violations faster.
Hybrid cloud solutions have 23% lower data leak rates than all other clouds.
What are the costs associated with a data breach?
According to IBM’s latest Data Breach Report, the cost of a data breach in 2022 was $4.24 million in the Americas . That figure is 10% higher than the average cost of a data breach in 2021, which was $3.86 million. To put things in perspective, Mimecast calculated that the average ransomware claim used against U.S. companies is well over $6 million. The world record for the largest ransomware claim payout this year was $40 million, made by an insurance company.
How many data breaches will cost more than money in 2023?
An estimated 38% of the costs associated with a data breach are lost business. This includes costs such as employee turnover, new business, and lost revenue due to system and/or website downtime. Factors used to calculate the cost of a data breach include legal issues, employee turnover, employee productivity , loss of brand integrity, regulatory issues, technical actions and problems , and hundreds of other factors that have financial and other costs.
Which industries bear the highest costs from data breaches?
How Many Data Breaches Will Cost You a Lot in 2023? The healthcare industry has the highest data breach costs. Additionally, where remote work is involved, the average cost of a data breach was $1.07 million, higher than any other market. Remote work takes longer to contain such breaches. Companies surveyed reported that it takes at least 58 days to identify and control a data breach in the remote sector. This makes it more expensive and takes longer to fix. For the 11th year in a row, the healthcare industry has paid more than any other industry for data breaches. The average cost in 2023 will be $9.23 million, up from $7.13 million in 2020, an increase of 29.3%.
How many records were hacked in 2022?
The question “How many data breaches will happen in 2023?” is directly related to the question “How many records were breached.” Data breaches that compromise at least 50 million records are called megathreats, which are 100 times more expensive than regular data breaches. In 2022, the cost of a data breach of 50 to 65 million records was $401 million. In 2022, this cost was $392 million. Therefore, these costs are also increasing.
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What was done to mitigate the impact of the data breach?
There is good news in all this complex data. There are some things that actually saved money, preserved data , and helped protect data at rest. The implementation of Zero-Trust Architecture helped reduce the average cost of a data breach in 2022 by $1.76 million. While the average cost of a single data breach was $3.28 million, without Zero-Trust Architecture, it would have been $5.01 million. Automation and artificial intelligence (AI) played a key role in helping organizations find and contain data breaches faster than without this technology . How? Because this technology solves one of the main problems associated with the cost of resolving breaches: time. Although the data breaches occurred in hybrid cloud environments, this environment helped reduce costs by $1.19 million compared to cloud, private, or public markets. The average cost of a data breach in a hybrid cloud was $3.61 million, 23% less than all other cloud types.
