Verizon Business today released the results of its 16th annual Data Breach Investigations Report (2023 DBIR), which analyzed 16,312 security incidents and 5,199 breaches. Chief among its findings is the soaring cost of ransomware – malicious software (malware) that encrypts an organization’s data and extorts large sums of money to restore access.
Cost per ransomware rises
The median cost per ransomware more than doubled over the past two years to $26,000, with 95% of incidents that experienced a loss costing between $1 and $2.25 million.
