IBM Comes Out With A Report On The Cost of a Data Breach

IBM has released the annual ‘Cost of a Data Breach’ report, conducted by Ponemon Institute, which found that the cost of a data breach in 2022 totaled $4.35 Million, an increase of 2.6% since last year’s total of $4.24 Million.

Sanjay Raja, VP of Product, Gurucul had this comment:

     “The follow-up attack effect, as described, is a significant problem as the playbooks and solutions provided to security operations teams are overly broad and lack the necessary context and response actions for proper remediation. For example, shutting down a user or application or adding a firewall block rule or quarantining a network segment to negate an attack is not a sustainable remediation step to protect an organization on an ongoing basis. It starts with a proper threat detection, investigation and response solution. Current SIEMs and XDR solutions lack the variety of data, telemetry and combined analytics to not only identify an attack campaign and even detect variants on previously successful attacks, but also provide the necessary context, accuracy and validation of the attack to build both a precise and complete response that can be trusted. This is an even greater challenge when current solutions cannot handle complex hybrid multi-cloud architectures leading to significant blind spots and false positives at the very start of the security analyst journey.”

What’s worse than the economic cost is the repetitional damage that can happen. And that’s a dollar amount that you can’t calculate. Thus companies need to make sure that they don’t become the next headline.

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