Cost of data breaches hits an all-time high

The report shows costlier and higher-impact data breaches than ever, with the Asean average cost of a data breach reaching an all-time high of US$2.87mil for surveyed organisations. — Paperless photo created by DilokaStudio - www.freepik.com

Asean has seen the average cost of a data breach hit all-time high of US$2.87mil (RM12.80mil) in 2022, up 8% from a year before, according to the latest report by American IT giant IBM, with the problem believed to be heaping pressure on already high inflation.

The cost is shown in IBM's Cost of Data Breach Report 2022, based on in-depth analysis of 550 breached organisations worldwide between March 2021 and March 2022.