Average cost for ransomware incidents is doubling

The cost of ransomware per incident has doubled in the past two years to $26,000, according to Verizon's 2023 data breach investigations report.

The report analyzed 16,312 security incidents between November 2021 and October 2022, and found the following:

  • Ransomware was the most used hacking method.

  • Seventy-four percent of all breaches involved people accidentally breaching a system or misusing privileges.
     
  • Ninety-five percent of data breach incidents resulted in a loss costing between $1 and $2.25 million.

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