39 percent of costs are incurred more than a year after a data breach ( IBM ).The average cost of a breach with a lifecycle over 200 days is $4.87 million ( IBM ).
In 2021, lost business opportunities represented the largest share of breach costs, at an average total cost of $1.59 million ( IBM ).The average total cost for healthcare increased from $7.13 million in 2020 to $9.23 million in 2021, a 29.5 percent increase ( IBM ).The average per record (per capita) cost of a data breach increased by 10.3 percent from 2020 to 2021 ( IBM).The average total cost of a ransomware breach is $4.62 million, slightly higher than the average data breach of $4.24 million ( IBM).See below to find out just how expensive it is to experience a breach and what elements cause the cost to rise even more. Indirect costs include in-house investigations and communication, as well as customer turnover or diminished rates from a company’s impacted reputation after breaches. To calculate the average cost of a data breach, security institutes collect both the direct and indirect expenses suffered by the breached organization.ĭirect expenses include forensic experts, hotline support, credit-monitoring subscriptions and potential settlements. It’s no secret that data breaches are costly for businesses. For more in-depth security insights check out our data breach whitepapers.