Bengaluru: The cost of violating data for the company has surged to $ 4.2 million per incident throughout the world, the highest in 17 years, according to IBM reports.
Based on the analysis of real-world data violations experienced by more than 500 organizations, this study shows that security incidents are more expensive and difficult to obtain due to drastic operational shifts during the pandemic, at a cost of up 10% compared to the previous year.
While pandemics make it mandatory for most of them to switch to long distance working conditions and other cloudbased activities, the rate of security progress cannot compensate for transformation.
“While the data violation costs reached a high record over the past year, the report also showed positive signs of the impact of modern security tactics, such as AI, automation and adoption of zero-trust approach – which could pay off in reducing this incident costs further on the phone, “said Chris McCurdy, VP & GM in IBM security.
In India, the total average cost of data violations is Rs 16.5 Crore, an increase of 18% compared to 2020.
The cost per recording lost or stolen is Rs 5,900, up by around 7%.
Violations cost more than $ 1 million on average when long-distance work is indicated as a factor in the event, compared to those in this group without this factor ($ 4.9 million vs.
$ 3.8 million).
The report adds health, retail, and hospitality, which faces major operational challenges during a pandemic, also experiencing a substantial increase in the cost of a year-on-year data violation.
Health is the worst blow, with a violation of $ 9.2 million, up from $ 7.2 million per year earlier.
High-cost violation fees for Covid
