IBM: During the pandemic, the cost of data breach breaks the highest record

IBM data breach 2021: The report is looking towards the hundreds of accounts and their cost factors that are involved in the data breaching incidents with the help of regulatory, legal, and technical activities which is causing a loss of brand equity along with consumers and employee productivity.

During the period of pandemic security incidents have turned more costly and harder to control because of the drastic operational shifts which cost a lot of data breaches to the Indian organizations which are around 18 percent that is around 16.5 crore on an average from May 2020 to March 2021, stated in a report by the IBM.

According to the report in the history of last 17 years stated that the study has looked towards the similar trends happening in the other parts of the world regarding data breaches which are costing the surveyed companies 4.24 US million dollars per incident on average which is the highest till now.

After conducting the depth analysis of the real-world data breaches and recording the experience of more than 500 organizations and the study suggests that the security incidents are becoming more costly and harder to control because of the drastic operational shifts during the time of pandemic with the rising costs of 10 percent from the previous years.

In the report, it has been concluded that the India data has shown about 16.5 million rupees as the average total cost of the data breach in the study of the year 2021.

According to last year’s edition of the report which stated that data breaches cost badly to organizations of India which is about 14 crore rupees as an average from August 2019 to April 2020.

In the year 2021, the cost of the data breach in the report by IBM Security and Ponemon Institute is based on the depth analysis of the real-world data breaches from among 100,000 records or less, from the 500 companies globally who have experienced this.

According to the insights of Indian, the cost of per loss or stole record in the year 2021 is 5,900 rupees which are increased by 6.85 percent from the year 2020.

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