Saturday, July 13, 2024

IBM Security: Data breaches expensive for financial institutions

IBM Security commissioned a 12-month study of 550 organizations across multiple sectors as part of an annual report on data breaches, and the results were released earlier this week.

The cost of dealing with a data breach for financial institutions rose by $250,000 compared to a similar study conducted in 2020-2021. IBM defined financial services as banks, insurance and investment companies.

You can click here to read the entire report.