How do you measure the cost of a company data breach? You could try asking those that have been attacked. The IBM Security Cost of a Data Breach Report 2021 did just that, and the numbers reveal some hard truths.
For example, ransomware attacks cost an average of $4.62 million. These costs included escalation, notification, lost business and response costs. This total did not include the cost of the ransom — if it was even paid.
The economic impact of data protection bleeds well past typical bottom-line measurements. Let’s take a look at how much a data breach response really costs. Plus, we’ll explore key factors that mitigate or amplify the financial damage