The average cost of data breach in India in 2020 is $2M

The rapid technology shifts paired with new ways of accessing data creates more opportunities for security incidents if companies don’t ensure the right tools and policies are in place. During a time when businesses are expanding their digital footprint at an accelerated pace, while also battling a continuing talent shortage in the security industry, teams can be overwhelmed from securing more devices, systems and data than they are normally used to.

Additionally, a recent IBM study found that over half of surveyed employees new to working from home due to the pandemic have not been provided with new guidelines on how to handle customers’ personally identifiable information, despite the changing risk models associated with this shift.

In the midst of these challenges, it’s important for business leaders to understand the risks and costs they might face if customer or other sensitive data is exposed as a result. IBM Security’s just released Cost of a Data Breach report, conducted by the Ponemon Institute, sheds light on the financial damages that occur in the aftermath of a data breach. According to the report, 70% of businesses that adopted telework due to the pandemic saying they expect future breach costs to rise during the global shift to remote work environments.

Based on an in-depth analysis of 500+ real world data breaches, the report found that these incidents cost companies $2 million ..

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