"Data Breaches Could be Even More Expensive in 2023"

Security researchers at Acronis have claimed that data breaches could be even more expensive next year.  The researchers collected data from more than 750,000 unique endpoints, distributed worldwide, and now estimate that the average cost of a data breach will hit $5 million by next year.  To make matters even worse, the researchers expect the number of breaches to increase significantly.  The researchers stated that threats from malicious and phishing emails rose by 60% year-on-year.  Social engineering attacks rose in the last four months of the year and now account for roughly 3% of all attacks.  The researchers also found that leaked or stolen passwords and other credentials were the triggers for almost half of all reported cybersecurity incidents in H1 2022.  In the third quarter of the year, the proportion of phishing attacks against malware attacks increased by 1.3 times, and now make up more than three-quarters (76%) of all email attacks (up from 58% in the first half of the year).  The researchers stated that the majority of the victims of phishing attacks were located in the United States, but businesses in Germany and Brazil were also heavily targeted.  Endpoints in South Korea, Jordan, and China, were the biggest malware targets.

TechRadar reports: "Data Breaches Could be Even More Expensive in 2023"