The average cost of enterprise data breaches has risen to $1.41 million

The average cost of enterprise data breaches has risen to $1.41 million in 2018, up from $1.23 million in 2017, according to new research from Kaspersky. It’s estimated that there have already been 4,000 data breaches in the first half of 2019, affecting four billion users’ data. 

But companies with internal cybersecurity (security operation center or SOC) experienced only half the financial loss, compared to those without protection from cyber attacks. Cyber attacks are both anticipated and rampant, and IT security budgets now average $18.9 million, up from 2018’s $8.9 million. Worldwide IT spending is projected to total $3.74 trillion for 2019.

Source: TechRepublic