- The average cost of a data breach has increased to $4.88M.
- Data breaches involving malicious insiders now cost an average of $4.99M.
- The industrial sector has experienced the highest increase in breach costs.
In today’s digital landscape, data breaches are more than just a fear; they are a reality that many organisations face. According to IBM’s Cost of a Data Breach Report 2024, the average cost of a data breach has climbed to $4.88M, a significant 10 percent rise from the previous year. This stark increase highlights the urgent need for businesses to implement effective data security strategies.
Addressing the escalating costs
IBM’s report reveals several key statistics that are critical for understanding the current data breach environment. For example, 35 percent of breaches involve shadow data, which is often unmanaged and difficult to secure. Additionally, breaches that involve malicious insiders now have an average cost of $4.99M. The impact on customer data is also substantial, with 46 percent of breaches compromising this sensitive information. Notably, the industrial sector has seen the highest rise in breach costs, with an increase of $830,000 per incident compared to 2023.
These figures underscore the importance of adopting robust security measures tailored to the evolving threat landscape.
Forcepoint’s comprehensive solutions
Forcepoint is a leader in user and data protection, offering a range of solutions designed to address the rising costs and complexities of data breaches. Their suite of products provides real-time adaptation to user interactions, ensuring secure access and facilitating organisational growth.
Forcepoint ONE Web Security is a key offering that helps businesses safely browse the web and download documents while maintaining high-speed performance. This solution is essential for protecting users from malicious websites and ensuring secure internet access, particularly as new technologies like AI become more prevalent.
Another crucial component is Forcepoint ONE CASB (Cloud Access Security Broker), which extends security to cloud applications. This solution applies Zero Trust principles to safeguard sensitive data, regardless of where users access it. This is particularly important in managing data across various cloud applications, including those that are less commonly known.
Forcepoint ONE Data Security provides a unified platform for managing security policies and responding to incidents across multiple channels, including cloud, web, email, and endpoints. With over 1,700 pre-defined classifiers and policy templates, this platform streamlines the deployment of security measures and helps organisations quickly adapt to emerging threats.
About Forcepoint
Forcepoint is a leading user and data protection cybersecurity company, committed to safeguarding organisations while supporting their digital transformation and growth. The company’s solutions are designed to adapt in real-time to how people interact with data, ensuring secure access and enabling employees to drive value.
As the cost of data breaches continues to rise, Forcepoint’s comprehensive solutions offer critical protection and help organisations manage and mitigate risks effectively. For more information on how Forcepoint can enhance your data security strategy, request a demo or contact an expert to explore tailored solutions.
