Black Kite: Cost of Data Breaches Averages $15 Million

Our partner, Black Kite, reviewed 2,400 cyber incidents between 2017 and 2022 across 1,700 companies. They concluded that the average cost of a data breach is $15 million, Tech Republic report.

However, this average of $15 million is not taking into consideration outliers. When outliers are also factored in the cost jumps to a staggering $75 million. Cyber breach costs have been increasing at a yearly rate of 10%. If this rate continues the global cost of cybercrime could top $10 trillion in the next three years. The previous prediction from 2015 put it at $3 trillion so this has significantly increased over the last few years.

Black Kite’s study also found that a company that has remote workers has a higher cost on average per breach. On average it is $1 million more for a company with remote workers.

Black Kite’s review found that of the companies that were involved, one in four suffered a cyber attack in the last year. However it also found that 100% of the companies analyzed were vulnerable to an attack due to outdated systems or software.

You can read more about the report from Black Kite at TechRepublic’s site or you can view the report here.

Our partner, Black Kite, allows us to access unrivalled information that helps us to provide real-time losses for your company in the event of a cyber attack. Find out more here.

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