"Verizon 2023 Data Breach Investigations Report: 74% Of Breaches Involve Human Element"
Verizon Business has released the results of its 16th annual Data Breach Investigations Report (2023 DBIR). The report analyzed 16,312 security incidents and 5,199 breaches, finding that ransomware costs are soaring. According to the report, the median cost per ransomware doubled over the past two years to $26,000, with 95 percent of incidents that experienced a loss costing between $1 and $2.25 million. This cost increase is related to a sharp increase in frequency over the past few years, when the number of ransomware attacks exceeded the total for the previous five years. The human element is still involved in most events and is a factor in 74 percent of all breaches, even as organizations continue to defend critical infrastructure and enhance training on cybersecurity policies. This article continues to discuss key findings from the 2023 DBIR.