Pandemic Increases Losses Due to Data Breaches

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Dwi Hadya Jayani 06/09/2021 18:10 WIB

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The COVID-19 pandemic increased the cost of handling data breaches worldwide. Recorded costs reached US$4.24 million, a 9.8% increase compared to 2020.

Average Cost of Data Breach Handling Worldwide

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Pandemic Increases Losses Due to Data Breaches

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Average Cost of Data Breach Handling Worldwide

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The COVID-19 pandemic exacerbated losses from data breaches worldwide. An IBM Security report shows that the average total cost of data breaches in 2021 was the highest ever recorded. The cost reached US$4.24 million, a 9.8% increase compared to US$3.86 million in 2020.

This growth was also higher than the 1.5% increase from 2019 to 2020. The increase in data breach costs since 2015 has been 11.9%, with losses totaling US$3.79 million in that year.

The healthcare industry recorded the highest average losses among all sectors. The average cost of data breaches in healthcare reached US$9.23 million in 2021, a 29.5% increase from US$7.13 million the previous year.

This was followed by the financial sector at US$5.72 million. However, this cost decreased by 2.3% compared to US$5.85 million in the previous year.

The report involved 537 organizations across 17 countries and 17 industries.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."