• CEPro_logo_blue-new
  • TOPICS
      • News
        • People & Places
        • Product Briefs
      • Projects
      • Events
      • Control
        • Central Vac
        • Energy/Power
        • HVAC/IAQ
        • Interfaces/Devices
        • Lighting
        • Motorized Shades
        • Whole House Systems
      • Audio/Video
        • Audio/Video
        • AV Accessories
        • AV Racks
        • Cabling
        • Displays
        • Furniture
        • Headphones
        • Home Theater
        • Media
        • Mounts/Lifts
        • Multiroom AV
        • Projectors/Screens
        • Speakers/Subwoofers
        • Wireless AV
      • Security
        • Access Control
        • Alarms/Sensors
        • Services/Platforms
        • Surveillance/Cameras
      • Business Support
        • Associations/Buying Groups
        • Cell Phone Boosters
        • Distributors/Reps
        • Operations
        • Recurring Revenue
        • Research
        • Sales/Marketing
        • Software Services
        • Tools/Testers
      • Networking
        • Cellular
        • Devices/Equipment
        • Wireless
        • Wired/Installation
      • Markets
        • Builders
        • Commercial
        • Design
        • Europe
        • Outdoors
        • Resimercial
        • Wellness
      • CE Pro Hub Pages
        • Bose
        • Savant
        • Inside Sound United
  • PRODUCTS
  • RESOURCES
    • Reports/Downloads
    • Buyer’s Guide
    • Webcasts
    • Podcasts
    • Integrator Jobs
    • Digital Edition
    • CE Pro-iQ
  • SUBSCRIBE
    • CEDIA SHOW UPDATES
    • CEPRO PRINT EDITION
    • CEPRO DIGITAL EDITION
    • CEPRO NEWSLETTERS
  • DISCOVER
    • CEDIA Expo
      • September 29 – October 1
        Dallas, TX
      • VISIT SITE
    • KBIS
      • February 8 – 10
        Orlando, FL
      • VISIT SITE
    • Total Tech Summit
      • October 26 – 28
        Orlando, FL
      • VISIT SITE
    • Commercial Integrator
      • VISIT SITE
    • Security Sales
      • VISIT SITE
    • Tech Decisions
      • VISIT SITE
    • Campus Safety
      • VISIT SITE
    • Design Well
      • VISIT SITE
    • KBB Online
      • VISIT SITE
    • AV-iQ
      • VISIT SITE
    • CE Pro-iQ
      • VISIT SITE
  • Search
  • TOPICS
    • News
      • People & Places
      • Product Briefs
    • Projects
    • Events
    • Control
      • Central Vac
      • Energy/Power
      • HVAC/IAQ
      • Interfaces/Devices
      • Lighting
      • Motorized Shades
      • Whole House Systems
    • Audio/Video
      • Audio/Video
      • AV Accessories
      • AV Racks
      • Cabling
      • Displays
      • Furniture
      • Headphones
      • Home Theater
      • Media
      • Mounts/Lifts
      • Multiroom AV
      • Projectors/Screens
      • Speakers/Subwoofers
      • Wireless AV
    • Security
      • Access Control
      • Alarms/Sensors
      • Services/Platforms
      • Surveillance/Cameras
    • Business Support
      • Associations/Buying Groups
      • Cell Phone Boosters
      • Distributors/Reps
      • Operations
      • Recurring Revenue
      • Research
      • Sales/Marketing
      • Software Services
      • Tools/Testers
    • Networking
      • Cellular
      • Devices/Equipment
      • Wireless
      • Wired/Installation
    • Markets
      • Builders
      • Commercial
      • Design
      • Europe
      • Outdoors
      • Resimercial
      • Wellness
    • CE Pro Hub Pages
      • Savant
      • Bose
      • Inside Sound United
  • PRODUCTS
  • RESOURCES
    • Reports/Downloads
    • Buyer’s Guide
    • Webcasts
    • Podcasts
    • Integrator Jobs
    • Digital Edition
    • CE Pro-IQ
  • SUBSCRIBE
    • CEPRO PRINT EDITION
    • CEPRO DIGITAL EDITION
    • CEPRO NEWSLETTERS
    • CEDIA SHOW UPDATES
  • DISCOVER
    • Cedia Expo
      VISIT SITE
    • Commercial Integrator
      VISIT SITE
    • Security Sales
      VISIT SITE
    • Tech Decisions
      VISIT SITE
    • Campus Safety
      VISIT SITE
    • Design Well
      VISIT SITE
    • Total Tech Summit
      VISIT SITE
    • KBB Online
      VISIT SITE
    • AV-iQ
    • CE Pro-iQ
M
POPULAR SEARCHES
News
Projects
Control
Audio Video
Security
Business Support
Markets
SUBSCRIBE CEDIA EXPO
News | Security
August 2, 2021

IBM Report Finds Pandemic Led to More Expensive Data Breaches

IBM says data breaches became much more costly in the year following the pandemic, but the company did find preventative cybersecurity strategies for both small and large businesses.
Jess DeWitt
Article:
News | Security
August 2, 2021

IBM Report Finds Pandemic Led to More Expensive Data Breaches

According to a report by IBM security, data breaches hit record highs in terms of cost due to the COVID-19 pandemic. Even before the pandemic, data breaches were becoming a more frequent problem for organizations, but due to multiple factors, they became more problematic in the past year.

IBM Security hired Ponemon Institute to compile its “Cost of a Data Breach report 2021” where they surveyed 500 organizations that were victims of data breaches.

TechRepublic has detailed the finding in an article that shows the average data breach now costing companies roughly $4.24 million per incident, which is the highest amount recorded by the report in its 17-year history.

The pandemic forced businesses to shift to a completely remote work environment, which in turn, led them to relying more on cloud-based technologies. With this sudden change, their cybersecurity often was lagging behind the technology changes, which impacted organization’s ability to prevent or contain data breaches.

This resulted in the average expense of a data breach rising by 10% in 2021 over the previous year and the breaches cost $1 million more ($4.96 million) on average when remote work was revealed to have played a factor compared with organizations without this factor ($3.89 million).

CE Pro Newsletters

CE Pro’s Email Newsletters deliver timely news, industry-leading content, product information, and downloadable resources directly to your email inbox. Sign Up Today!

The pandemic overwhelmed healthcare companies more than any other industry and this led to them having the highest average cost per breach going up to $9.23 million, which is a $2 million increase from the previous year.

IBM found that stolen credentials were the most common cause of data breaches and that this specific type of breach also took the longest to detect at an average of 250 days compared with 212 days for other types of breaches. The most common type of data compromised was personal user information like names, email addresses, and passwords, which were exposed in 445 of all breaches.

IBM Data Identifies Preventative Cybersecuity Measures

But there were also some positive takeaways that could help organizations in the future. The study found that organizations further along in their cloud projects were able to detect and respond to breaches much quicker and more effectively in earlier stages.


Related: Kaspersky Research Shows Scammers Target Those Looking to Watch Tokyo Olympics

The use of AI, encryption, and security analytics were extremely beneficial in reducing the costs of a data breach as companies that used these tools cut between $1.25 million to $1.49 million off their costs compared to others that didn’t use these tools.

The use of zero trust security also played an enormous role in reducing the cost of breaches as companies that employed this type of security had an average data breach cost of $3.28 million, which is $1.76 million lower than those that didn’t.

But most notably, companies that had incident response teams and response plans spent an average of $3.25 million per attack, compared with $5.71 million for those without them.


This article originally appeared on our sister publication Commercial Integrator‘s website.

ARTICLE TOPICS

News • Security

ARTICLE TAGS

coronavirus • Cybersecurity • IBM

SHARE

Share On Facebook
Share On Twitter
Share On Linkedin
Share On Whatsapp
Share Via Email
Copy URL
← Previous Article Next Article →
Article MarketsWellness

Selling Wellness Technology: 7 Ways Integrators Already Know How

Integrators may already be prepared for selling wellness technology without knowing it -- are you involved in any of these seven areas?
Article CEPro 100News

CE Pro 100 Integrator Wipliance Acquires Eastern Wash.-Based Huppin’s

Perennial CE Pro 100 integrator Wipliance adds to its Seattle-area and Scottsdale, Ariz., bases by acquiring 114-year-old Huppin's of Spokane, Wash.
Article MarketsWellness

Selling Wellness Technology: 7 Ways Integrators Already Know How

Integrators may already be prepared for selling wellness technology without knowing it -- are you involved in any of these seven areas?
Article CommercialDevices/EquipmentNetworkingNewsResearchWireless

Wi-Fi 6E Market Set for Rapid Expansion

ABI Research predicts shipments of Wi-Fi 6E access points will more than triple by 2024 to 5.2M units, driven by 6GHz spectrum deployment.

SHOW NEWSLETTER

Sign Up

CE Pro

Subscribe Sign Up

Content Types

News
Products
Projects
Companies
Downloads
Webcasts
Podcasts
Events

Specials

IntegratorJobs
CEDIA EXPO
CE Pro 100
CE Pro Summit
Awards Programs

Company Info

About
Contact Us
Customer Service
Media Solutions & Advertising

Subscribe

Magazine
Newsletters
Digital Edition

Connect

Twitter
Facebook
LinkedIn
YouTube
RSS Feed

Categories

AUDIO/VIDEO
AV Accessories
AV Racks
Amplifiers/Receivers
Cabling
Displays
Furniture
Mounts/Lifts
Multiroom AV
Projector Screens
Speakers/Subwoofers
Wireless AV
CONTROL
Central Vac
Energy/Power
Interfaces/Devices
HVAC/IAQ
Lighting
Motorized Shades
Whole-House Systems
NETWORKING
Cellular
Devices/Equipment
Wireless
Wiring/Installation
SECURITY
Access Control
Alarms/Sensors
Services/Platforms
Surveillance Cameras
BUSINESS SUPPORT
Associations/Buying Groups
Distributors/Reps
Operations
Recurring Revenue
Research
Sales/Marketing
Software/Services
Tools/Testers
MARKETS
Builders
Commercial
Design
Europe
Outdoors
Wellness
FOLLOW US ON
  • Follow
  • Follow
  • Follow
  • Follow
  • Follow

© 2021 Emerald X, LLC. All Rights Reserved.

  • ABOUT
  • CAREERS
  • TERMS OF USE
  • PRIVACY POLICY