‘Data breaches cost Indian firms ₹165 mn on an average’

Data breaches cost companies in India about ₹165 million on an average, according to a new report by IBM Security and Ponemon Institute. This is an increase of 17.85% from ₹140 million in the last rep

Data breaches cost companies in India about ₹165 million on an average, according to a new report by IBM Security and Ponemon Institute. This is an increase of 17.85% from ₹140 million in the last report released in 2020. The global ‘Cost of a Data Breach Report’, which surveyed more than 500 companies worldwide between May 2020 and March 2021, found that data breaches cost surveyed companies $4.24 million per incident on average – the highest cost in the 17-year history of the report. “The rapid shift to remote work witnessed a tremendous disruption of security programs. Organisations were focussed on getting online and security became an afterthought. India witnessed a record high in data breach during the pandemic, leading to many organisations evaluating their security posture,” said Prashant Bhatkal, Security Software Sales Leader, IBM Technology Sales, India/South Asia.