IBM Says Average Cost Of Data Breach For Indian Firm Is Over 16 Crore – IBM Report: Average Cost Of Data Breach For An Indian Firm Is Over 16 Crore
A recently released report by IBM has revealed that the average cost of a data breach for a firm in India is 16.5 crores. Is.
New Delhi. An Indian organization has so far paid an average of around Rs 16.5 crore as the cost of a data breach in 2021, which is a 17.85 percent increase in remote working and learning time compared to the previous year.
A new research by IBM revealed this on Wednesday. Less than 50 percent of organizations adopting remote work reported 208 days as the average time to identify a data breach and 208 days to prevent a data breach, according to the Global 2021 Coast of Data Breach Report from IBM Security and the US-based Ponemon Institute. The average time taken is 72 days.
Prashant Bhatkal, Security Software Sales Leader, IBM Technology Sales, India/South Asia, said, “The rapid rise in remote work has seen significant bottlenecks in security programs. India witnessed record levels of data breaches during the pandemic, forcing many organizations to evaluate their security posture.
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5,900 per lost or stolen was a record in 2021, saw an increase of 6.85 per cent over 2020 and, 27,966 average records were broken between May 2020 and March 2021.
The report revealed that organizations in India that are in the mature stages of adopting zero trust deployment saw more than Rs 13.1 crore as the total cost of data breaches compared to organizations that are in the early stages of adoption And more than Rs 19.8 crore has been seen as a total cost.
The report was based on an in-depth analysis of real-world data breaches of 100,000 records or fewer, investigated by more than 500 organizations worldwide between May 2020 and March 2021.
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Globally, data breaches cost the surveyed companies an average of $4.24 million per incident, the highest in the reported 17-year history.
The report showed that, “the rapid shift to remote operations during the pandemic has resulted in more costly data breaches.”
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Bhatkal said that, “What is important is to learn and implement measures that save organizations the most money when breaches occur – including implementing zero trust, automation, hybrid cloud and encryption.”
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