Canadian organizations embroiled in data breaches wind up paying an average $6.32 million to resolve the incidents, a new study from IBM says.
Tara Deschamps, The Canadian PressCanadian organizations embroiled in data breaches wind up paying an average $6.32 million to resolve the incidents, a new study says. A man uses a computer keyboard in Toronto in this Sunday, Oct. 9, 2023 photo illustration. THE CANADIAN PRESS/Graeme Roy
“When I start looking at 75 breaches a day at an average $6.3 million per breach, that’s when I start saying this is staggering.” Its report was based on an analysis of data breaches experienced by 604 organizations globally between March 2023 and February 2024. When IBM combined the data from all of the countries it looked at, it found the most common forms of attack involved phishing or stolen or compromised credentials. Phishing attacks see scammers impersonate trusted people or website login forms to get victims to input or reveal sensitive information like passwords or credit card numbers.
When IBM took an industry-based look, it discovered health care, financial services, industrial, technology and energy organizations faced the highest breach costs, reaching up to US$9.77 million for health-care entities.
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