{"id":2478,"date":"2022-07-28T10:52:57","date_gmt":"2022-07-28T10:52:57","guid":{"rendered":"https:\/\/antidos.com\/blog\/?p=2478"},"modified":"2024-02-13T12:47:15","modified_gmt":"2024-02-13T12:47:15","slug":"cost-of-data-breach-report-2022","status":"publish","type":"post","link":"https:\/\/antidos.com\/blog\/cost-of-data-breach-report-2022\/","title":{"rendered":"Cost of Data Breach Report 2022: 10 Key Takeaways Businesses Should Keep an Eye On"},"content":{"rendered":"

According to IBM\u2019s cost of data breach report 2022, the average cost of a data breach has reached $4.35 million. <\/strong>This might not seem like a big increase when you compare it with the cost of data breach 2021 which stood at $4.24 million<\/strong> but when you compare it with the cost of data breach 2020, which was $3.86 million<\/strong>, you can see a 12% <\/strong>increase in the last two years.<\/p>\n

The cost of data breach report 2022 looks at 550 data breaches <\/strong>in 17 different countries <\/strong>and 17 different industries<\/strong>. The report also brings to light some eye opening facts and offers some useful insights. Want to know more about the key findings of the cost of data breach report 2022? You have come to the right place.<\/p>\n

In this article, Anti DDoS<\/a> highlights key takeaways from IBM\u2019s cost of data breach report 2022.<\/p>\n

Cost of Data Breach Report 2022: 10 Key Takeaways<\/h2>\n

Here are ten key takeaways from cost of data breach report 2022, that businesses should focus on:<\/p>\n

1.\u00a0\u00a0 Cost of Critical Infrastructure Data Breaches Shot Through The Roof<\/h2>\n

The average cost of data breach for critical infrastructure was $4.82 million. <\/strong>This is not only $1 million<\/strong> higher than other industries but also higher than the average cost of data breach. Furthermore, 28% <\/strong>of critical infrastructure organizations experienced a ransomware or destructive attack and 17%<\/strong>\u00a0 had to face a data breach due to a business partner. You might be wondering what constitutes critical infrastructure organizations? Businesses offering financial services or operating in transportation, energy, technology, communication, healthcare, education or public sector all come under the realm of critical infrastructure organization.<\/p>\n

\"Data<\/p>\n

2.\u00a0\u00a0 Ransomware Is Still a Major Threat<\/h2>\n

Even though the average cost of ransomware attack, excluding the ransom payment, dipped from $4.62 million<\/strong> in 2021 to $4.54 million <\/strong>in 2022, it is still the most dangerous threat targeting businesses. Ransomware led data breaches rose from 7.8% <\/strong>in 2021 to 11% <\/strong>in 2022, which translates into a 41% <\/strong>year-over-year increase. The cost of destructive attacks also went up from $4.69 million <\/strong>in 2021 to $5.12 million <\/strong>in 2022<\/p>\n

3.\u00a0\u00a0 Healthcare Data Breaches Are Most Expensive<\/h2>\n

When it comes to different industries, healthcare leads the way. The average cost of data breaches in healthcare has reached a whopping $10.1 million <\/strong>in 2022, which is a 42%<\/strong> increase when you compare it with the average cost of healthcare data breach which was $7.13 million <\/strong>in 2020. Keep in mind that this is not the first time healthcare topped the list of cost of data breaches. It has been doing so for 12 years in a row.<\/p>\n

\"Healthcare<\/p>\n

4.\u00a0\u00a0 Zero Trust Will Save You Money<\/h2>\n

The number of businesses implementing zero trust architecture has grown from 35%<\/strong> in 2021 to 41%<\/strong> in 2022. Not only that, enterprises who implemented zero trust architecture saved $1 million<\/strong> in data breaches. Unfortunately, 59% <\/strong>of businesses who have not implemented zero trust architecture were on the receiving end as data breaches cost them $1 million<\/strong> more on average.<\/p>\n

5.\u00a0\u00a0 Proven Incident Response Plan Can Reduce Financial Damage<\/h2>\n

According to the cost of data breach report 2022, tried and tested incident response plans and well prepared incident response teams are two of the best ways to minimize the cost of data breaches. In fact, a proven incident response plan can help you save $2.66 million <\/strong>on average in case of data breach.<\/strong> Despite this, 37% <\/strong>of businesses don\u2019t put their incident response plan to the test regularly, while 73% <\/strong>businesses do so rigorously.<\/p>\n

\"Response<\/p>\n

6.\u00a0\u00a0 Cloud Is The New Target<\/h2>\n

Did you know that 45% <\/strong>of all data breaches occurred in the cloud? Yes, that\u2019s right. With more and more businesses jumping on the cloud bandwagon, cyberattackers have also turned their attention to the cloud. Cost of data breaches varied based on different types of cloud. For instance, the average cost of data breach for hybrid cloud was much lower than the average cost of data breach for public and private cloud.<\/p>\n

Here is the average cost of data breach for different types of cloud in 2022<\/p>\n