The average cost of a data breach in 2021 was sitting at $4.24 million US dollars. In 2022 this increased by 2.6% to $4.35 million US dollars according to data breach statistics. The average cost of data breaches for critical infrastructure has increased to $4.82 million US dollars.
The cyber security sector has come under increasing pressures to implement, update and maintain their cybersecurity measures that are in place in an environment of every increasing risk in cyberspace.
In this post we will look briefly at how data breaches occur.
How Do Data Breaches Occur?
In this post we will look at some statistics on the most common kinds of cyber attacks that lead to data breaches, and those are ransomware and phishing attacks.
Ransomware
You might ask what is Ransomware. In a nut shell this is malicious malware that is designed to deny and prevent access to computer systems or data until a ransom is paid.
Ransomware is spread primarily through phishing emails.
- In a study carried out by IBM, 11% of breaches were ransomware attacks, which was a 7.8% increase from 2021 and a growth rate of 41%.
- The average cost being incurred as a result of a ransomware attack decreased slightly from 4.62 million USD in 2021 to 4.54 million USD in 2022.
- In 2021 a business will fall victim to a ransomware attack every 11 seconds
- 27% of malware induced breaches involve ransomware.
- In comparison to 2019 there was an increase of 358% in terms of malware attacks and an increase by 435% in ransomware attacks.
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