The country’s average per record cost of a data breach was ₹6,100, up 3.3% from a year ago
The country’s average per record cost of a data breach was ₹6,100, up 3.3% from a year ago
IBM said India’s average total cost of data breaches reached Rs 17.6 crore in FY22, up 6.6% from Rs 16.5 crore last year and a 25% climb from Rs 14 crore seen in 2020. . Wednesday.
The country’s average per record cost of a data breach was ₹6,100 in 2022, a 3.3% increase from ₹5,900 in 2021 and a 10.4% increase from ₹5,522 in 2020, IBM said from its data breach report findings for India from 2022, Based on an analysis of real-world data breaches experienced by 550 enterprises between March 2021 and March 2022. On an average, about 29,500 records were broken in the country by March 2022.
The industrial sector faced an average record violation of ₹9,024; For the service sector, it was ₹7,085 while the technology sector reported ₹6,900. According to the report, chemical processing, engineering and manufacturing companies were the most affected in the industrial sector.
The mean average time to detect a breach decreased from 239 to 221 days and the mean average time to prevent a data breach increased only marginally from 81 to 82 days. The report also showed that less than 50% of organizations adopting remote working reported 212 days as the mean average time to identify a data breach and 75 days as the average average time to prevent a data breach. took. However, over 50% of organizations adopting remote work took 266 days and 91 days respectively.
According to the report, organizations that were in the mature stages of adopting zero-trust deployment saw ₹15.1 crore as the total cost of the data breach as compared to organizations that did not initiate such deployment and as a cost. Rs.24.6 crores in Rs.
Vishwanath Ramaswamy, Vice President, Technology, IBM Technology Sales, IBM India and South Asia, told reporters, “Today, we have reached a point where cyber attacks are evolving into market tensions, which are affecting the economy. doing harm.” “Some 60% of global businesses have raised their prices as a result of a data breach, contributing to inflation, and inadvertently passing the cost on to customers. Hackers are taking advantage of these circumstances to force organizations to pay ransoms. ”