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For the twelfth year in a row, healthcare saw the costliest breaches among all industries with the average cost reaching $10.1 million per breach.

CAMBRIDGE, Mass. — IBM (NYSE: IBM) Security released the annual Cost of a Data Breach Report, revealing costlier and higher-impact data breaches than ever before, with the global average cost of a data breach reaching an all-time high of $4.35 million for studied organizations. With breach costs increasing nearly 13% over the last two years of the report, the findings suggest these incidents may also be contributing to rising costs of goods and services. In fact, 60% of studied organizations raised their product or services prices due to the breach, when the cost of goods is already soaring worldwide amid inflation and supply chain issues.

The perpetuality of cyberattacks is also shedding light on the “haunting effect” data breaches are having on businesses, with the IBM report finding 83% of studied organizations have experienced more than one data breach in their lifetime. Another factor rising over time is the after-effects of breaches on these organizations, which linger long after they occur, as nearly 50% of breach costs are incurred more than a year after the breach.

The 2022 Cost of a Data Breach Report is based on in-depth analysis of real-world data breaches experienced by 550 organizations globally between March 2021 and March 2022. The research, which was sponsored and analyzed by IBM Security, was conducted by the Ponemon Institute.

Some of the key findings in the 2022 IBM report include:

  • Critical Infrastructure Lags in Zero Trust – Almost 80% of critical infrastructure organizations studied don’t adopt zero trust strategies, seeing average breach costs rise to $5.4 million – a $1.17 million increase compared to those that do. All while 28% of breaches amongst these organizations were ransomware or destructive attacks.
  • It Doesn’t Pay to Pay – Ransomware victims in the study that opted to pay threat actors’ ransom demands saw only $610,000 less in average breach costs compared to those that chose not to pay – not including the cost of the ransom. Factoring in the high cost of ransom payments, the financial toll may rise even higher, suggesting that simply paying the ransom may not be an effective strategy.
  • Security Immaturity in Clouds – Forty-three percent of studied organizations are in the early stages or have not started applying security practices across their cloud environments, observing over $660,000 on average in higher breach costs than studied organizations with mature security across their cloud environments.
  • Security AI and Automation Leads as Multi-Million Dollar Cost Saver – Participating organizations fully deploying security AI and automation incurred $3.05 million less on average in breach costs compared to studied organizations that have not deployed the technology – the biggest cost saver observed in the study.

“Businesses need to put their security defenses on the offense and beat attackers to the punch. It’s time to stop the adversary from achieving their objectives and start to minimize the impact of attacks. The more businesses try to perfect their perimeter instead of investing in detection and response, the more breaches can fuel cost of living increases.” said Charles Henderson, Global Head of IBM Security X-Force. “This report shows that the right strategies coupled with the right technologies can help make all the difference when businesses are attacked.”

Over-trusting Critical Infrastructure Organizations

Concerns over critical infrastructure targeting appear to be increasing globally over the past year, with many governments’ cybersecurity agencies urging vigilance against disruptive attacks. In fact, IBM’s report reveals that ransomware and destructive attacks represented 28% of breaches amongst critical infrastructure organizations studied, highlighting how threat actors are seeking to fracture the global supply chains that rely on these organizations. This includes financial services, industrial, transportation and healthcare companies amongst others.

Despite the call for caution, and a year after the Biden Administration issued a cybersecurity executive order that centers around the importance of adopting a zero trust approach to strengthen the nation’s cybersecurity, only 21% of critical infrastructure organizations studied adopt a zero trust security model, according to the report. Add to that, 17% of breaches at critical infrastructure organizations were caused due to a business partner being initially compromised, highlighting the security risks that over-trusting environments pose.

Businesses that Pay the Ransom Aren’t Getting a “Bargain”

According to the 2022 IBM report, businesses that paid threat actors’ ransom demands saw $610,000 less in average breach costs compared to those that chose not to pay – not including the ransom amount paid. However, when accounting for the average ransom payment, which according to Sophos reached $812,000 in 2021, businesses that opt to pay the ransom could net higher total costs – all while inadvertently funding future ransomware attacks with capital that could be allocated to remediation and recovery efforts and looking at potential federal offenses.

The persistence of ransomware, despite significant global efforts to impede it, is fueled by the industrialization of cybercrime. IBM Security X-Force discovered the duration of studied enterprise ransomware attacks shows a drop of 94% over the past three years – from over two months to just under four days. These exponentially shorter attack lifecycles can prompt higher impact attacks, as cybersecurity incident responders are left with very short windows of opportunity to detect and contain attacks. With “time to ransom” dropping to a matter of hours, it’s essential that businesses prioritize rigorous testing of incident response (IR) playbooks ahead of time. But the report states that as many as 37% of organizations studied that have incident response plans don’t test them regularly.

Hybrid Cloud Advantage

The report also showcased hybrid cloud environments as the most prevalent (45%) infrastructure amongst organizations studied. Averaging $3.8 million in breach costs, businesses that adopted a hybrid cloud model observed lower breach costs compared to businesses with a solely public or private cloud model, which experienced $5.02 million and $4.24 million on average respectively. In fact, hybrid cloud adopters studied were able to identify and contain data breaches 15 days faster on average than the global average of 277 days for participants.

The report highlights that 45% of studied breaches occurred in the cloud, emphasizing the importance of cloud security. However, a significant 43% of reporting organizations stated they are just in the early stages or have not started implementing security practices to protect their cloud environments, observing higher breach costs2. Businesses studied that did not implement security practices across their cloud environments required an average 108 more days to identify and contain a data breach than those consistently applying security practices across all their domains.

Additional findings in the 2022 IBM report include:

  • Phishing Becomes Costliest Breach Cause – While compromised credentials continued to reign as the most common cause of a breach (19%), phishing was the second (16%) and the costliest cause, leading to $4.91 million in average breach costs for responding organizations.
  • Healthcare Breach Costs Hit Double Digits for First Time Ever– For the 12th year in a row, healthcare participants saw the costliest breaches amongst industries with average breach costs in healthcare increasing by nearly $1 million to reach a record high of $10.1 million.
  • Insufficient Security Staffing – Sixty-two percent of studied organizations stated they are not sufficiently staffed to meet their security needs, averaging $550,000 more in breach costs than those that state they are sufficiently staffed.

To get a copy of the 2022 Cost of a Data Breach Report, visit https://www.ibm.com/security/data-breach.

Fri, 29 Jul 2022 02:15:00 -0500 CS Staff en text/html https://www.campussafetymagazine.com/research/ibm-report-data-breach-costs-reach-all-time-high/
Killexams : Cybersecurity - what’s the real cost? Ask IBM
(Pixabay)

Cybersecurity has always been a concern for every type of organization. Even in normal times, a major breach is more than just the data economy’s equivalent of a ram-raid on Fort Knox; it has knock-on effects on trust, reputation, confidence, and the viability of some technologies. This is what IBM calls the “haunting effect”.

A successful attack breeds more, of course, both on the same organization again, and on others in similar businesses, or in those that use the same compromised systems. The unspoken effect of this is rising costs for everyone, as all enterprises are forced to spend money and time on checking if they have been affected too.

But in our new world of COVID-19, disrupted economies, climate change, remote working, soaring inflation, and looming recession, all such effects are all amplified. Throw in a war that’s hammering on Europe’s door (with political echoes across the Middle East and Asia) and it’s a wonder any of us can get out of bed in the morning.

So, what are the real costs of a successful cyberattack – not just hacks, viruses, and Trojans, but also phishing, ransomware, and concerted campaigns against supply chains and code repositories?

According to IBM’s latest annual survey, breach costs have risen by an unlucky 13% over the past two years, as attackers, which include hostile states, have probed the systemic and operational weaknesses exposed by the pandemic.

The global average cost of a data breach has reached an all-time high of $4.35 million – at least, among the 550 organizations surveyed by the Ponemon Institute for IBM Security (over a year from March 2021). Indeed, IBM goes so far as to claim that breaches may be contributing to the rising costs of goods and services. The survey states:

Sixty percent of studied organizations raised their product or services prices due to the breach, when the cost of goods is already soaring worldwide amid inflation and supply chain issues.

Incidents are also “haunting” organizations, says the company, with 83% having experienced more than one data breach, and with 50% of costs occurring more than a year after the successful attack.

Cloud maturity is a key factor, adds the report:

Forty-three percent of studied organizations are in the early stages [of cloud adoption] or have not started applying security practices across their cloud environments, observing over $660,000 in higher breach costs, on average, than studied organizations with mature security across their cloud environments.

Forty-five percent of respondents run a hybrid cloud infrastructure. This leads to lower average breach costs than among those operating a public- or private-cloud model: $3.8 million versus $5.02 million (public) and $4.24 million (private).

That said, those are still significant costs, and may suggest that complexity is what deters attackers, rather than having a single target to hit. Nonetheless, hybrid cloud adopters are able to identify and contain data breaches 15 days faster on average, says the report.

However, with 277 days being the average time lag – an extraordinary figure – the real lesson may be that today’s enterprise systems are adept at hiding security breaches, which may appear as normal network traffic. Forty-five percent of breaches occurred in the cloud, says the report, so it is clearly imperative to get on top of security in that domain.

IBM then makes the following bold claim :

Participating organizations fully deploying security AI and automation incurred $3.05 million less on average in breach costs compared to studied organizations that have not deployed the technology – the biggest cost saver observed in the study.

Whether this finding will stand for long as attackers explore new ways to breach automated and/or AI-based systems – and perhaps automate attacks of their own invisibly – remains to be seen. Compromised digital employee, anyone?

Global systems at risk

But perhaps the most telling finding is that cybersecurity has a political dimension – beyond the obvious one of Russian, Chinese, North Korean, or Iranian state incursions, of course.

Concerns over critical infrastructure and global supply chains are rising, with threat actors seeking to disrupt global systems that include financial services, industrial, transportation, and healthcare companies, among others.

A year ago in the US, the Biden administration issued an Executive Order on cybersecurity that focused on the urgent need for zero-trust systems. Despite this, only 21% of critical infrastructure organizations have so far adopted a zero-trust security model, according to the report. It states:

Almost 80% of the critical infrastructure organizations studied don’t adopt zero-trust strategies, seeing average breach costs rise to $5.4 million – a $1.17 million increase compared to those that do. All while 28% of breaches among these organizations were ransomware or destructive attacks.

Add to that, 17% of breaches at critical infrastructure organizations were caused due to a business partner being initially compromised, highlighting the security risks that over-trusting environments pose.

That aside, one of the big stories over the past couple of years has been the rise of ransomware: malicious code that locks up data, enterprise systems, or individual computers, forcing users to pay a ransom to (they hope) retrieve their systems or data.

But according to IBM, there are no obvious winners or losers in this insidious practice. The report adds:

Businesses that paid threat actors’ ransom demands saw $610,000 less in average breach costs compared to those that chose not to pay – not including the ransom amount paid.

However, when accounting for the average ransom payment – which according to Sophos reached $812,000 in 2021 – businesses that opt to pay the ransom could net higher total costs, all while inadvertently funding future ransomware attacks.”

The persistence of ransomware is fuelled by what IBM calls the “industrialization of cybercrime”.

The risk profile is also changing. Ransomware attack times show a massive drop of 94% over the past three years, from over two months to just under four days. Good news? Not at all, says the report, as the attacks may be higher impact, with more immediate consequences (such as destroyed data, or private data being made public on hacker forums).

My take

The key lesson in cybersecurity today is that all of us are both upstream and downstream from partners, suppliers, and customers in today’s extended enterprises. We are also at the mercy of reused but compromised code from trusted repositories, and even sometimes from hardware that has been compromised at source.

So, what is the answer? Businesses should ensure that their incident responses are tested rigorously and frequently in advance – along with using red-, blue-, or purple-team approaches (thinking like a hacker, a defender, or both).

Regrettably, IBM says that 37% of organizations that have IR plans in place fail to test them regularly. To paraphrase Spinal Tap, you can’t code for stupid.

Wed, 27 Jul 2022 12:00:00 -0500 BRAINSUM en text/html https://diginomica.com/cybersecurity-whats-real-cost-ask-ibm
Killexams : IBM report: Middle Eastern consumers pay the price as regional data breach costs reach all-time high

Riyadh, Saudi Arabia: IBM, the leading global technology company, has published a study highlighting the importance of cybersecurity in an increasingly digital age. According to IBM Security’s annual Cost of a Data Breach Report,  the Middle East has incurred losses of SAR 28 million from data breaches  in 2022 alone — this figure already exceeding the total amount of losses accrued in each of the last eight years. 

The latest edition of the Cost of a Data Breach Report — now in its 17th year — reveals costlier and higher-impact data breaches than ever before. As outlined by the study, the global average cost of a data breach has reached an all-time high of $4.35 million for surveyed organizations. With breach costs increasing nearly 13% over the last two years of the report, the findings suggest these incidents may also be contributing to rising costs of goods and services. In fact, 60% of studied organizations raised their product or services prices due to the breach, when the cost of goods is already soaring worldwide amid inflation and supply chain issues.

Notably, the report ranks the Middle East2 among the top five countries and regions for the highest average cost of a data breach. As per the study, the average total cost of a data breach in the Middle East amounted to SAR 28 million in 2022, the region being second only to the United States on the list. The report also spotlights the industries across the Middle East that have suffered the highest per-record costs in millions; the financial (SAR 1,039), health (SAR 991) and energy (SAR 950) sectors taking first, second and third spot, respectively.    

Fahad Alanazi, IBM Saudi General Manager, said: “Today, more so than ever, in an increasingly connected and digital age, cybersecurity is of the utmost importance. It is essential to safeguard businesses and privacy. As the digital economy continues to evolve, enhanced security will be the marker of a modern, world class digital ecosystem.” 

He continued: “At IBM, we take great pride in enabling the people, businesses and communities we serve to fulfil their potential by empowering them with state-of-the-art services and support. Our findings reiterate just how important it is for us, as a technology leader, to continue pioneering solutions that will help the Kingdom distinguish itself as the tech capital of the region.”

The perpetuality of cyberattacks is also shedding light on the “haunting effect” data breaches are having on businesses, with the IBM report finding 83% of studied organizations have experienced more than one data breach in their lifetime. Another factor rising over time is the after-effects of breaches on these organizations, which linger long after they occur, as nearly 50% of breach costs are incurred more than a year after the breach.

The 2022 Cost of a Data Breach Report is based on in-depth analysis of real-world data breaches experienced by 550 organizations globally between March 2021 and March 2022. The research, which was sponsored and analyzed by IBM Security, was conducted by the Ponemon Institute.

Some of the key global findings in the 2022 IBM report include:

  • Critical Infrastructure Lags in Zero Trust – Almost 80% of critical infrastructure organizations studied don’t adopt zero trust strategies, seeing average breach costs rise to $5.4 million – a $1.17 million increase compared to those that do. All while 28% breaches amongst these organizations were ransomware or destructive attacks.
  • It Doesn’t Pay to Pay – Ransomware victims in the study that opted to pay threat actors’ ransom demands saw only $610,000 less in average breach costs compared to those that chose not to pay – not including the cost of the ransom. Factoring in the high cost of ransom payments, the financial toll may rise even higher, suggesting that simply paying the ransom may not be an effective strategy.
  • Security Immaturity in Clouds – Forty-three percent of studied organizations are in the early stages or have not started applying security practices across their cloud environments, observing over $660,000 on average in higher breach costs than studied organizations with mature security across their cloud environments. 
  • Security AI and Automation Leads as Multi-Million Dollar Cost Saver – Participating organizations fully deploying security AI and automation incurred $3.05 million less on average in breach costs compared to studied organizations that have not deployed the technology – the biggest cost saver observed in the study.

“Businesses need to put their security defenses on the offense and beat attackers to the punch. It’s time to stop the adversary from achieving their objectives and start to minimize the impact of attacks. The more businesses try to perfect their perimeter instead of investing in detection and response, the more breaches can fuel cost of living increases.” said Charles Henderson, Global Head of IBM Security X-Force. “This report shows that the right strategies coupled with the right technologies can help make all the difference when businesses are attacked.”

Over-trusting Critical Infrastructure Organizations 

Concerns over critical infrastructure targeting appear to be increasing globally over the past year, with many governments’ cybersecurity agencies urging vigilance against disruptive attacks. In fact, IBM’s report reveals that ransomware and destructive attacks represented 28% of breaches amongst critical infrastructure organizations studied, highlighting how threat actors are seeking to fracture the global supply chains that rely on these organizations. This includes financial services, industrial, transportation and healthcare companies amongst others.

Despite the call for caution, and a year after the Biden Administration issued a cybersecurity executive order that centers around the importance of adopting a zero trust approach to strengthen the nation’s cybersecurity, only 21% of critical infrastructure organizations studied adopt a zero trust security model, according to the report. Add to that, 17% of breaches at critical infrastructure organizations were caused due to a business partner being initially compromised, highlighting the security risks that over-trusting environments pose.

Businesses that Pay the Ransom Aren’t Getting a “Bargain” 

According to the 2022 IBM report, businesses that paid threat actors’ ransom demands saw $610,000 less in average breach costs compared to those that chose not to pay – not including the ransom amount paid. However, when accounting for the average ransom payment, which according to Sophos reached $812,000 in 2021, businesses that opt to pay the ransom could net higher total costs - all while inadvertently funding future ransomware attacks with capital that could be allocated to remediation and recovery efforts and looking at potential federal offenses.

The persistence of ransomware, despite significant global efforts to impede it, is fueled by the industrialization of cybercrime. IBM Security X-Force discovered the duration of studied enterprise ransomware attacks shows a drop of 94% over the past three years – from over two months to just under four days. These exponentially shorter attack lifecycles can prompt higher impact attacks, as cybersecurity incident responders are left with very short windows of opportunity to detect and contain attacks. With “time to ransom” dropping to a matter of hours, it's essential that businesses prioritize rigorous testing of incident response (IR) playbooks ahead of time. But the report states that as many as 37% of organizations studied that have incident response plans don’t test them regularly.

Hybrid Cloud Advantage

The report also showcased hybrid cloud environments as the most prevalent (45%) infrastructure amongst organizations studied. Averaging $3.8 million in breach costs, businesses that adopted a hybrid cloud model observed lower breach costs compared to businesses with a solely public or private cloud model, which experienced $5.02 million and $4.24 million on average respectively. In fact, hybrid cloud adopters studied were able to identify and contain data breaches 15 days faster on average than the global average of 277 days for participants.

The report highlights that 45% of studied breaches occurred in the cloud, emphasizing the importance of cloud security. However, a significant 43% of reporting organizations stated they are just in the early stages or have not started implementing security practices to protect their cloud environments, observing higher breach costs3 . Businesses studied that did not implement security practices across their cloud environments required an average 108 more days to identify and contain a data breach than those consistently applying security practices across all their domains. 

Additional findings in the 2022 IBM report include:

  • Phishing Becomes Costliest Breach Cause – While compromised credentials continued to reign as the most common cause of a breach (19%), phishing was the second (16%) and the costliest cause, leading to $4.91 million in average breach costs for responding organizations.
  • Healthcare Breach Costs Hit Double Digits for First Time Ever– For the 12th year in a row, healthcare participants saw the costliest breaches amongst industries with average breach costs in healthcare increasing by nearly $1 million to reach a record high of $10.1 million.
  • Insufficient Security Staffing – Sixty-two percent of studied organizations stated they are not sufficiently staffed to meet their security needs, averaging $550,000 more in breach costs than those that state they are sufficiently staffed.

Additional Sources

  • To get a copy of the 2022 Cost of a Data Breach Report, please visit: https://www.ibm.com/security/data-breach. 
  • Read more about the report’s top findings in this IBM Security Intelligence blog.
  • Sign up for the 2022 IBM Security Cost of a Data Breach webinar on Wednesday, August 3, 2022, at 11:00 a.m. ET here.
  • Connect with the IBM Security X-Force team for a personalized review of the findings: https://ibm.biz/book-a-consult.

-Ends-

About IBM Security

IBM Security offers one of the most advanced and integrated portfolios of enterprise security products and services. The portfolio, supported by world-renowned IBM Security X-Force® research, enables organizations to effectively manage risk and defend against emerging threats. IBM operates one of the world's broadest security research, development, and delivery organizations, monitors 150 billion+ security events per day in more than 130 countries, and has been granted more than 10,000 security patents worldwide. For more information, please check www.ibm.com/security, follow @IBMSecurity on Twitter or visit the IBM Security Intelligence blog.

Wed, 27 Jul 2022 22:20:00 -0500 en text/html https://www.zawya.com/en/press-release/research-and-studies/ibm-report-middle-eastern-consumers-pay-the-price-as-regional-data-breach-costs-reach-all-time-high-q1wbuec0
Killexams : IBM Report: Consumers Pay the Price as Data Breach Costs Reach All-Time High

IBM Report: Consumers Pay the Price as Data Breach Costs Reach All-Time High

60% of breached businesses raised product prices post-breach; vast majority of critical infrastructure lagging in zero trust adoption; $550,000 in extra costs for insufficiently staffed businesses

CAMBRIDGE, Mass., July 27, 2022 /PRNewswire/ -- IBM (NYSE: IBM) Security today released the annual Cost of a Data Breach Report,1  revealing costlier and higher-impact data breaches than ever before, with the global average cost of a data breach reaching an all-time high of $4.35 million for studied organizations. With breach costs increasing nearly 13% over the last two years of the report, the findings suggest these incidents may also be contributing to rising costs of goods and services. In fact, 60% of studied organizations raised their product or services prices due to the breach, when the cost of goods is already soaring worldwide amid inflation and supply chain issues.

The perpetuality of cyberattacks is also shedding light on the "haunting effect" data breaches are having on businesses, with the IBM report finding 83% of studied organizations have experienced more than one data breach in their lifetime. Another factor rising over time is the after-effects of breaches on these organizations, which linger long after they occur, as nearly 50% of breach costs are incurred more than a year after the breach.

The 2022 Cost of a Data Breach Report is based on in-depth analysis of real-world data breaches experienced by 550 organizations globally between March 2021 and March 2022. The research, which was sponsored and analyzed by IBM Security, was conducted by the Ponemon Institute.

Some of the key findings in the 2022 IBM report include:

  • Critical Infrastructure Lags in Zero Trust – Almost 80% of critical infrastructure organizations studied don't adopt zero trust strategies, seeing average breach costs rise to $5.4 million – a $1.17 million increase compared to those that do. All while 28% of breaches amongst these organizations were ransomware or destructive attacks.
  • It Doesn't Pay to Pay – Ransomware victims in the study that opted to pay threat actors' ransom demands saw only $610,000 less in average breach costs compared to those that chose not to pay – not including the cost of the ransom. Factoring in the high cost of ransom payments, the financial toll may rise even higher, suggesting that simply paying the ransom may not be an effective strategy.
  • Security Immaturity in Clouds – Forty-three percent of studied organizations are in the early stages or have not started applying security practices across their cloud environments, observing over $660,000 on average in higher breach costs than studied organizations with mature security across their cloud environments.
  • Security AI and Automation Leads as Multi-Million Dollar Cost Saver – Participating organizations fully deploying security AI and automation incurred $3.05 million less on average in breach costs compared to studied organizations that have not deployed the technology – the biggest cost saver observed in the study.

"Businesses need to put their security defenses on the offense and beat attackers to the punch. It's time to stop the adversary from achieving their objectives and start to minimize the impact of attacks. The more businesses try to perfect their perimeter instead of investing in detection and response, the more breaches can fuel cost of living increases." said Charles Henderson, Global Head of IBM Security X-Force. "This report shows that the right strategies coupled with the right technologies can help make all the difference when businesses are attacked."

Over-trusting Critical Infrastructure Organizations
Concerns over critical infrastructure targeting appear to be increasing globally over the past year, with many governments' cybersecurity agencies  urging vigilance against disruptive attacks. In fact, IBM's report reveals that ransomware  and destructive attacks represented 28% of breaches amongst critical infrastructure organizations studied, highlighting how threat actors are seeking to fracture the global supply chains that rely on these organizations. This includes financial services, industrial, transportation and healthcare companies amongst others.

Despite the call for caution, and a year after the Biden Administration issued a cybersecurity executive order that centers around the importance of adopting a zero trust approach to strengthen the nation's cybersecurity, only 21% of critical infrastructure organizations studied adopt a zero trust security model, according to the report. Add to that, 17% of breaches at critical infrastructure organizations were caused due to a business partner being initially compromised, highlighting the security risks that over-trusting environments pose.

Businesses that Pay the Ransom Aren't Getting a "Bargain"
According to the 2022 IBM report, businesses that paid threat actors' ransom demands saw $610,000 less in average breach costs compared to those that chose not to pay – not including the ransom amount paid. However, when accounting for the average ransom payment, which according to Sophos reached $812,000 in 2021, businesses that opt to pay the ransom could net higher total costs - all while inadvertently funding future ransomware attacks with capital that could be allocated to remediation and recovery efforts and looking at potential federal offenses.

The persistence of ransomware, despite significant global efforts to impede it, is fueled by the industrialization of cybercrime. IBM Security X-Force discovered the duration of studied enterprise ransomware attacks shows a drop of 94% over the past three years – from over two months to just under four days. These exponentially shorter attack lifecycles can prompt higher impact attacks, as cybersecurity incident responders are left with very short windows of opportunity to detect and contain attacks. With "time to ransom" dropping to a matter of hours, it's essential that businesses prioritize rigorous testing of incident response (IR) playbooks ahead of time. But the report states that as many as 37% of organizations studied that have incident response plans don't test them regularly.

Hybrid Cloud Advantage
The report also showcased hybrid cloud environments as the most prevalent (45%) infrastructure amongst organizations studied. Averaging $3.8 million in breach costs, businesses that adopted a hybrid cloud model observed lower breach costs compared to businesses with a solely public or private cloud model, which experienced $5.02 million and $4.24 million on average respectively. In fact, hybrid cloud adopters studied were able to identify and contain data breaches 15 days faster on average than the global average of 277 days for participants.

The report highlights that 45% of studied breaches occurred in the cloud, emphasizing the importance of cloud security. However, a significant 43% of reporting organizations stated they are just in the early stages or have not started implementing security practices to protect their cloud environments, observing higher breach costs2. Businesses studied that did not implement security practices across their cloud environments required an average 108 more days to identify and contain a data breach than those consistently applying security practices across all their domains.

Additional findings in the 2022 IBM report include:

  • Phishing Becomes Costliest Breach Cause – While compromised credentials continued to reign as the most common cause of a breach (19%), phishing was the second (16%) and the costliest cause, leading to $4.91 million in average breach costs for responding organizations.
  • Healthcare Breach Costs Hit Double Digits for First Time Ever– For the 12th year in a row, healthcare participants saw the costliest breaches amongst industries with average breach costs in healthcare increasing by nearly $1 million to reach a record high of $10.1 million.
  • Insufficient Security Staffing – Sixty-two percent of studied organizations stated they are not sufficiently staffed to meet their security needs, averaging $550,000 more in breach costs than those that state they are sufficiently staffed.

Additional Sources

  • To get a copy of the 2022 Cost of a Data Breach Report, please visit: https://www.ibm.com/security/data-breach.
  • Read more about the report's top findings in this IBM Security Intelligence blog.
  • Sign up for the 2022 IBM Security Cost of a Data Breach webinar on Wednesday, August 3, 2022, at 11:00 a.m. ET here.
  • Connect with the IBM Security X-Force team for a personalized review of the findings: https://ibm.biz/book-a-consult.

About IBM Security
IBM Security offers one of the most advanced and integrated portfolios of enterprise security products and services. The portfolio, supported by world-renowned IBM Security X-Force ®  research, enables organizations to effectively manage risk and defend against emerging threats.  IBM operates one of the world's broadest security research, development, and delivery organizations, monitors  150 billion+ security events per day in more than 130 countries, and has been granted more than 10,000 security patents worldwide. For more information, please check www.ibm.com/security, follow @IBMSecurity on  Twitter or visit the IBM Security Intelligence blog.

Press Contact:

IBM Security Communications
Georgia Prassinos
gprassinos@ibm.com

1 Cost of a Data Breach Report 2022, conducted by Ponemon Institute, sponsored, and analyzed by IBM
2  Average cost of $4.53M, compared to average cost $3.87 million at participating organizations with mature-stage cloud security practices

Photo - https://mma.prnewswire.com/media/1865847/IBM_CODB.jpg

Logo - https://mma.prnewswire.com/media/95470/ibm_logo.jpg  

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Adda52 announces 'Freedom Fest' - an online Poker tournament to celebrate 75 years of Independence

Online Proctoring Solution Provider Shinkan Launches Shinkan Edge To Revolutionise Corporate Recruitment

The 49th CIFF Guangzhou Presents the Entire Furniture Supply Chain to 50 Million Visitors Online and Offline

Xinhua Silk Road: N.China's Lingqiu County takes organic agriculture as effective way to promote rural development

EARTHDAY.ORG'S THE CANOPY PROJECT ANNOUNCES MANGROVE PLANTING PROJECT IN BANGLADESH WITH CRYSTAL INTERNATIONAL GROUP LIMITED

Here and Now, There and Then: Prince Mohammad Bin Fahd University Drives Innovation and Invention, Locally and Globally

Global supply chain reconfiguration to persist through 2030

Hakuhodo and DAC launch H+, a strategic group to "Empower Your Digital Future" with one of APAC's most distinctively audience-centric data marketing approaches

ONESIGHT ESSILORLUXOTTICA FOUNDATION ANNOUNCES PUBLICATION OF NEW ARTICLE

Recorded Future Launches National Cyber Defense Intelligence Kit

Launched to immediate global acclaim via Livestream: Absen's pioneering KLCOB Micro LED product series

SEMI Applauds President Biden's Signing of CHIPS and Science Act of 2022

Anthony Di Iorio Opens Whitelist for New Global Project to Empower a User-Controlled Internet; Project to Be Unveiled November 3

New measures agreed to strengthen the partnership between Mongolia and China

Focused Photonics Inc. Selects Wolters Kluwer CCH® Tagetik Expert Solution for its Disclosure Management Needs

Snapmaker Announces Artisan 3-in-1 3D Printer is Available for Pre-order Today

Frost & Sullivan Institute Recognizes Samsung Biologics with the 2022 Global Enlightened Growth Leadership Award for its Commitment to Sustainable Growth

DevOps Institute Releases First Ever 'Global SRE Pulse 2022' Report

WorkForce Software Honored Alongside IBM and Google in Comparably's Annual Ranking of Top Companies for Having the Best Leadership Team

Aon appoints James Platt as Chief Digital Officer and Mindy Simon joins the firm as Chief Operating Officer

Merck Becomes One of the First CDMOs to Provide Full Viral Vector Offering with Launch of VirusExpress® 293 Adeno-Associated Virus Production Platform

Satellite Software Innovator Antaris Announces Close of $4.2 Million Seed Funding Round to Accelerate Development of Software Solutions for Space

GOLDIAM reports its Q1FY23 results, share of Lab grown diamond & jewellery strengthens further

Novaliq submits New Drug Application seeking approval for first-of-a-kind Dry Eye Disease Treatment CyclASol®

Nobu Hospitality Expands its Footprint in Asia Pacific

Gunzilla Games Raises $46M to Redefine the Battle Royale Genre By Letting Players Trade Their In-Game Items in "Off The Grid"

Deepak Nitrite Demonstrates Strong Topline Performance with 35% Y-o-Y Growth

A leading ERP company, Focus Softnet eyes revenues of 160 crores, projects a growth of about 20% Y-O-Y

Quest Global Becomes Arm Approved Design Partner

GCLSI Receives French Carbon Footprint Certification for Its 182 and 210 Series of Photovoltaic Modules

Triumph International India launches their first exclusive retail store in Pune

Indian Ice-Cream Manufacturers' Association (IICMA) met with Finance Minister Nirmala Sitharaman to discuss GST rates on supply of ice cream by ice cream parlours in India

Dyninno opens new office in Cyber City; Plans more offices in Gurugram and Mumbai

Woxsen University bestows Chair Professorships in honour of International Experts

People Matters TechHR 2022 Brings Fresh Eyes to the World of HR

PACORR Launches Melt Flow Index Tester - Fully Automatic Version

RateGain Launches Airline Travelers' Forecast to Help Commercial Teams Drive Higher ROI

Thai Digital Content Gaining Increasing Recognition Around the World

Crave InfoTech launches White Paper on Top Supply Chain Challenges

GRL accelerates the authorization of biometrics devices for Government of India projects

Everest Group Names Automation Anywhere a Leader in the inaugural Task Mining PEAK Matrix® Assessment 2022

China Wuling's First Global Electric Vehicle Air ev Rollouted, First Step In Indonesia

FRONTIER BIOTECHNOLOGIES ANNOUNCES POSITIVE PHASE 1 RESULTS OF ITS FIRST CORONAVIRUS MAIN PROTEASE (MPRO) SMALL MOLECULE INHIBITOR, LAYING FOUNDATION FOR THE TREATMENT OF ACUTE AND LONG COVID

GIGABYTE Releases 600 series BIOS updates ready for Intel's upcoming new-gen processors

Soroco Named a Leader in Everest Group's PEAK Matrix® for Task Mining Technology Provider 2022

Starburst Celebrates 10th Anniversary of Trino

Point-of-Care Ultrasound Certification Academy to Host World Conference

The "Picturesque and Dynamic Zhejiang" Global Short Video Competition Launches

BlackBerry Commended by Frost & Sullivan for Optimizing Edge-to-cloud Performance, Security, Privacy, and Scalability with its IVY Platform for Automakers

Amwell Applauded by Frost & Sullivan for its Comprehensive Digital Care Delivery Enablement Platform, Convergeâ„¢

Prominent Stanford University scientist and cellular reprogramming innovator will oversee all research for Turn Bio

Axis Bank in partnership with CRMNEXT wins the Best CRM Implementation Award by Asian Banker

Godrej Properties Ltd. unveils insights from Home Livability Factors research

Gear Up with All New Helix Metalfit 3.0 Smartwatch Launched by Timex Group India

Roundtable with Leading Doctors and Youth Aims for a Tobacco-Free Future for India

Catalytic Investment to Improve Community Health Care for Millions Across Africa

DIFC Launches First Global Family Business and Private Wealth Centre

2022 ITOE - Home Lifestyle Expo Opens, Provides Strong Impetus for Development of Digital Trade

FRIMLINE LAUNCHES INDIA'S 1st ORAL CARE RANGE FOR PREGNANT WOMEN

Aptus Value Housing Finance India Limited announces Q1 FY23 Results

Tata Communications enhances InstaCCâ„¢ Platform with digital features

/C O R R E C T I O N -- Lentra/

Leading Solar Energy Solution Provider Haitai Solar Launches IPO on Beijing Stock Exchange

Kiko Live to be launched on ONDC in September

Clarivate Selected by Singapore's National Library Board to Play a Part in Building Libraries of the Future

TCL Reaffirms its Leadership in Mini LED TVs in 2022

NID Foundation unveils Heartfelt-The Legacy of Faith; A book showcasing PM Modi's relationship with the Sikh community at Melbourne

AirCarbon Exchange Offsets Emissions Through to December 2023

Celebrate independence from the worries of interest rates with Tata Housing Development Company's 'Its Interesting' campaign with 3.50% interest rate for 12 months in the 75th year of Independence

Xinhua Silk Road: E. China's Wuxi city steps up biomedical industry development

M/V Riva Wind and M/V Arizona Both Sail from Ukraine with 105,000 Tons of Grain

Atlanta Site Strengthens Sims Lifecycle Services' Operational Footprint

PRA Group Leader LaTisha Tarrant Named Chief Human Resources Officer

Media Advisory - BMO Financial Group to Announce its Third Quarter 2022 Results

Vieworks Wins FDA Approval for Its latest VIVIX-S F series

GACL Financial results for the first quarter ended 30th June 2022

Strong Technical Advantages of TANK Platform, GWM TANK300 Will Bring a New Intelligent Off-road Experience

Bitget Launches $200 Million Protection Fund To Safeguard Users' Asset Security

Chandigarh University joins hands with Punjab Remote Sensing Centre for resources management and disaster mitigation

Saudi Arabia to Bid for the 2026 AFC Women's Asian Cup

FIRMENICH DELIVERS RECORD RESULTS DESPITE CHALLENGING MACRO-ECONOMIC ENVIRONMENT

A Center of Hope and New Life

CHAIRMAN OF ATLAS CORP., FAIRFAX FINANCIAL HOLDINGS LIMITED AND THE WASHINGTON FAMILY PARTNER WITH OCEAN NETWORK EXPRESS PTE. LTD. TO JOINTLY PROPOSE ACQUIRING ALL COMMON SHARES OF ATLAS CORP. NOT CONTROLLED BY ITS MAJORITY SHAREHOLDERS FOR $14.45 PER SHARE IN CASH

Hon'ble Prime Minister Modi inaugurates multispecialty charitable Shrimad Rajchandra Hospital; a revolution in rural healthcare

PARAMOUNT PICTURES' "TOP GUN: MAVERICK" FLIES PAST $50 MILLION IN SCREENX AND 4DX

Empowering Young Women and Refugees Worldwide through STEM & Sustainability

ViewSonic's Visual Solutions Ignite Love and Hope in 2022 World Women's Art Festival

Besrey Celebrates Seventh Anniversary with Giveaways and Gifts for Parents

ADVENTURERS ROSS EDGLEY AND KATIE TUNN OPEN DOORS AT NEW TALISKER VISITOR EXPERIENCE

Frost & Sullivan Institute lauds Global Companies with Prestigious Enlightened Growth Leadership Awards

Oracle Names WorkForce Software the Cloud HCM ISV Partner of the Year as Winner of the 2021 Oracle Cloud HCM HR Heroes Visionary Award

In a first of its kind, Rural Banking Outlets in India to get a distinct identity through 'RedBlue Revolution'

Titan.ium Platform, LLC Announces 5G SA Evolution of NetCore to Expand Its Private Networks Solutions

Dentsu Group Acquires a Majority Stake in Extentia to Strengthen Customer Transformation and Technology Capabilities

Agility Completes £763 Million Acquisition of Menzies Aviation

Elearnmarkets goes global with their 2nd edition of the Face2Face Trading Conclave in Bangkok

Global Tree presents Study Fair 2022

Innoviti joins ONDC platform to help small sellers accelerate sales through co-promotion opportunities with banks and brands

VNPT Group partners with Comviva to deliver advanced digital customer experience

SVKM'S NMIMS Shirpur campus bags NBA accreditation for School of Pharmacy & Technology Management

Crest, an Inventory Planning Tool Gets Funding from Its first 2 Customers, Sirona Hygiene and Samosa Party

Panchshil Realty To Sponsor Accomplished Mountaineer Baljeet Kaur's Next Adventure

The Adecco Group: HALF YEAR REPORT 2022

The Adecco Group: Q2 22 Results - Market share momentum, solid growth and margin

Cielo continues global expansion, opens new office in India

VCTI Achieves Dramatic Growth Fueled by U.S.'s Plans and Funding for Broadband Expansion

Sun Life Appoints Chris Wei to EVP and Chief Client and Innovation Officer

ROSHN signs agreement to sponsor and rename Jeddah Waterfront

GameChange Solar Announces 6 GW Midwest Tracker Factory, Increases USA Capacity to 14 GW

Franklin Templeton, Inc. Renews with Empire State Realty Trust for 79k Square Feet at 100 First Stamford Place

Music industry veteran Lefroy Verghese joins Audio Network

Women's World Banking Announces 2023 Fintech Innovation Challenge to Elevate Fintechs with New Solutions to Close the Gender Gap in Financial Services

KPM Analytics Introduces New Discrete Analyzer to Complete Its SmartChem® Product Line

HAVAS HEALTH & YOU PARTNERS WITH REPUBLICA HAVAS TO CREATE REPUBLICA HAVAS HEALTH

Collaboration of ePayLater, the SME Credit Platform with JioMart Partner

Firmenich Appoints Maurizio Clementi ad interim President of its Taste & Beyond Division

Enfinity Global closes $242 million of long term financing for three operational solar power plants in Japan

HIGHLIGHTS FROM THE ALZHEIMER'S ASSOCIATION INTERNATIONAL CONFERENCE 2022

HISTORY OF HYPERTENSIVE DISORDERS DURING PREGNANCY LINKED TO INCREASED RISK OF DEMENTIA

HarperCollins Publishers India is proud to announce the forthcoming publication of Chitra Banerjee Divakaruni's new novel INDEPENDENCE

Waterborne Trade in Rio South Texas

A Bond Tightly Woven Together With Sneh - An Exquisite Rakhi Range From Ferns N Petals (FNP)

FMCG and Consulting companies top recruiters at SPJIMR Autumn Internship 2022

Jury unveiled for UXplorer'22; features design industry stalwarts from India and abroad

Hisense Shines in UEFA Women's EURO 2022â„¢, Achieved Champion Position in Global Market

The Israeli Ministry of Defense Selects Mona's Enterprise Monitoring Solution to Gain Complete Visibility into Their AI / ML Systems

Over 22% of small businesses that availed loans in FY 2022 were run by women: NeoGrowth Social Impact Report

FORTUNE RELEASES ANNUAL FORTUNE GLOBAL 500 LIST

Technology Solutions to Boost Employee Experience and Improve Patient Outcomes

Cendyn announces acquisition of digitalhotelier

Credgenics launches Digital Collections Technology Platform in Indonesia

MOMENTUM NAMED A BEST COMPANY TO WORK FOR WITH "OUTSTANDING" LEVELS OF WORKPLACE ENGAGEMENT

Zimyo at-service with its 'Start-up Program'

Sanjay Ghodawat conferred with the Maharashtra Leadership Award 2022

Jio Platforms partners with Subex HyperSense AI to augment its 5G product line

Globalization Partners Again Named an Industry Leader in NelsonHall's 2022 Global Employer of Record Research

Detect Technologies announces global agreement with Vedanta

CLA Nearly Triples Office Space with ESRT at One Grand Central Place

Sparrow Introduces Newly Updated Sparrow Cloud and Sparrow SCA at Black Hat USA 2022

CELEBRATING CULTURAL REVIVAL AND THE TRADITION OF PASSING ON GENERATIONAL KNOWLEDGE THROUGH A NEW ROYAL CANADIAN MINT COIN HONOURING THE RED RIVER MÉTIS

LOWER SOCIOECONOMIC STATUS IN CHILDHOOD, PERSISTENT LOW WAGES LINKED TO RISK FOR DEMENTIA AND FASTER MEMORY DECLINE

Expel Applauded by Frost & Sullivan for Enabling Managed and Automated Threat Detection and Response

Context Therapeutics and The Menarini Group Announce Clinical Trial Collaboration and Supply Agreement to Evaluate ONA-XR and Elacestrant Combination

Bigtincan Unveils Analytics Experience and Delivers Enhancements to Award-Winning Sales Enablement Platform

Zift Solutions Marks Six Years of SOC 2 Compliance

Adorable has a new meaning with Little Surprise Box the pioneers of Kids Monsoon Fashion in India

Firmenich Announces Grand Opening of West Coast Pilot Plant for Food & Beverage Customers

Leica Camera engages in the Laser TV equipment segment and agrees on technological cooperation with Hisense

Metabolon Awarded ISO 9001:2015 Recertification

At Chandigarh University, multiple scholarships worth Crores of rupees help talented and meritorious students overcome the barrier of weaker economic situation

Altair Announces Winners of 10th Annual Enlighten Award

iHerb Achieves Customer Service Milestones

10,000 RMB! "My Guangdong Story" short video solicitation calls for global entries

STL launches comprehensive optical suite for India's 5G readiness

LambdaTest's intelligent test orchestration platform HyperExecute is now available on the Microsoft Azure Marketplace

Northwest Analytics Applauded by Frost & Sullivan for Preventing Institutional Knowledge Loss and Bridging Skills Gaps with NWA Analytics Knowledge Suiteâ„¢

New Research Reveals Risk Factors to Business Success in a Post-Pandemic World

Comviva receives Mastercard Cloud Based Payments Certification

EZVIZ LAUNCHES TY1 With 4MP, A SMART Wi-Fi PAN and TILT CAMERA

Novel and fast typing method developed to control monkeypox by Molecular Biology Systems (MBS) in collaboration with the Amsterdam UMC and Danish Rigshospitalet

Intersec Reports Most Successful Fiscal Year In Company History

Protean forays into cyber security business, launches Protean InfoSec Services Limited

Prudent Corporate Advisory Services Limited Profits grew by 25% YoY & Flows from SIPs Reach Highest Ever in Q1FY23

Pharming Announces New ICD-10-CM Code for APDS, a Rare Primary Immunodeficiency

SEERIST ESTABLISHES THE FIRST AUGMENTED ANALYTICS TECHNOLOGY FOR SECURITY AND THREAT INTELLIGENCE PROFESSIONALS

Quinnox named a Strong Performer in Modern Application Development Services by Independent Analyst Firm

Tech Mahindra Announces Strategic Partnership with Soroco to Establish a Large Task Mining Center of Excellence

Eventbrite Welcomes Sapna Nair as Managing Director and VP of Engineering in India

PNY launches XLR8 Gaming EPIC-X RGB(TM) DDR4 Silver 3200MHz and 3600MHz desktop memory

The Benefits of a Smart Connected Commerce for MSMEs in APAC

Allied Universal® Expands By 22,000 Square Feet with Empire State Realty Trust at 501 Seventh Avenue

Ithra's Hijrah: In the Footsteps of the Prophet exhibit revisits the birth of Islam from a modern perspective

New initiative from Turkish Airlines to combat climate change: Co2mission

EXPERIENCES OF RACISM ASSOCIATED WITH POOR MEMORY, INCREASED COGNITIVE DECLINE

INEOS STYROLUTION SELLS ITS ENTIRE EQUITY INTEREST IN INEOS STYROLUTION INDIA

IMG Announces Start of Sixth Annual 'Leave Your Mark' Essay Contest

RevBits Delivers End-to-End Email Security - Defending from the Mail Server to the Edge User's Inbox

Frost & Sullivan Recognizes Leading Organizations with Prestigious 2022 Best Practices Awards

Religare Broking Moves its Corporate Office to Andheri East

"The only sustainable way we can get to 5 trillion is if the bottom 600 billion Indians are part of the process," said Dr. D Subbarao, Former Finance Secretary and RBI Governor

Comviva and Vietnamobile announce strategic partnership to power AI-led intelligent customer engagement

Union Bank of India launches Union Prerna 2.0 - EmpowerHim

Passion Gaming Orchestrates Real-Time Data-Based Decision Making With Tableau

Shanghai Electric Announces Continued Commitment to Promoting Friendship Between China and Pakistan on International Friendship Day

Azure Power Announces Appointment of Rupesh Agarwal as Chief Strategy & Commercial Officer

Merged Solcon-IGEL GROUP Launches New Website

City of Glasgow College, UK partners with Scottish Institute of Hospitality Sciences to strengthen their presence in India

NIA highlights four key magnets to attract foreign investors, pushing Thailand as a "Global Hub" for international startups and investors

Global Automotive Plastics Market Boosted by the Need to Minimize CO2 Emissions

Vantage partners UNHCR for global fundraising activity for refugees, matches donations dollar-for-dollar.

Experion Technologies and TRL Software UK's new JV promises safer roads using technology-driven solutions iROADS and iMAAP

DigiFT Launches Decentralized Security Token Exchange

Anirban Gupta joins Colliers as Managing Director, East India to drive business growth

PLDT fires up PH link of US-Transpacific Jupiter Cable system

SVKM's NMIMS School of Pharmacy & Technology Management, Shirpur Campus bags NBA Accreditation

Zimbabwe President Emmerson Mnangagwa launched US$500 million Zim Cyber City by UAE investor Mulk Int'l opens new investment opportunities for Indians

Tejas Networks awarded Rs 298 crore optical network contract by Power Grid Corporation of India Limited (PGCIL)

Pharming Group Receives Accelerated Assessment in Europe for leniolisib for the Treatment of Rare Immunodeficiency, APDS

Wed, 27 Jul 2022 06:40:00 -0500 text/html https://news.webindia123.com/news/press_showdetailsPR.asp?id=1267921&cat=PR%20News%20Wire
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