Data Breaches are More Expensive than Last Year, New IBM Security Report Finds

Death, taxes and data breaches. Cybersecurity incidents have grown in frequency, scale and seriousness. As articulated in President Biden’s May 2021 Executive Order, Improving the Nation’s Cybersecurity, “[t]he United States faces persistent and increasingly sophisticated malicious cyber campaigns that threaten the public sector, the private sector, and ultimately the American people’s security and privacy.” These threats lead to direct costs on victims, and these costs have also grown exponentially in recent years, as readers of the famed annual Ponemon data breach report well know.  This year’s report is out, and confirms the continuation of a troubling trend. (more…)