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Orgs Face Record $4.5M Per Data Breach Incident

July 24, 2023

The average cost per data breach for business in 2023 jumped to $4.45 million, a 15% increase over three years. But instead of investing in cybersecurity, 57% of breached organizations told IBM they were inclined to just pass those costs onto consumers.

The final total for the year could be even higher: With organizations struggling to crack down on cybercrime, threat groups like Cl0p are cleaning up. Coveware has, for instance, released an analysis estimating the MOVEit breach, which has already claimed dozens of victims and counting, could earn Cl0p up to $100 million. Coveware anticipates the the Cl0p MOVEit campaign will effect up to 1,000 companies.

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