Security News > 2020 > July > IBM finds cyberattacks costing companies nearly $4 million per breach
Data breaches are now costing companies nearly $4 million according to a new report from IBM Security and the Ponemon Institute released Wednesday.
On average, breaches now cost organizations $3.86 million per attack, with the United States having the highest average cost per breach and healthcare being the most heavily hit industry.
"While the average cost per lost or stolen record was $146 across all data breaches, those containing customer PII cost businesses $150 per compromised record. The cost per record of customer PII increased to $175 in breaches caused by a malicious attack," the study said.
The IBM report said breaches involving cloud misconfigurations led to the average cost of a breach increasing by more than half a million dollars to $4.41 million.
The study included a section dedicated to major breaches and included findings that said breaches where more than 50 million records were exposed saw costs skyrocket to $392 million compared with $388 million the year before.