Average data breach cost in ASEAN climbs to all-time high - BusinessWorld Online
Source: BusinessWorld
Published on: 2024-08-07 16:09
THE AVERAGE COST of data breaches in the Association of Southeast Asian Nations (ASEAN) region has reached an all-time high of $3.23 million this year, the International Business Machines Corp. (IBM) said on Wednesday. This was 6% higher than $3.05 million in 2023 and affected companies in the Philippines, Singapore, Indonesia, Malaysia, Thailand, and Vietnam, IBM's 2024 Cost of a Data Breach Report showed. Globally, the average cost of data breaches spiked by 10% year on year to $4.88 million. The report surveyed 604 organizations globally between March 2023 and February 2024. "ASEAN's critical infrastructure organizations experienced the highest breach costs, with financial services participants saw the costliest breaches across industries ($5.57 million), followed by the industrial sector ($4.18 million) and technology ($4.09 million)," IBM said in a statement. "Disruption is the...
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