The true costs of data breaches revealed – Digital Journal

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Hacks have increased during the pandemic and the war in Ukraine – © AFP/File Noel Celis

While data breaches can affect every industry, cybercriminals target specific industries based on maximum impact and profit. In terms of what types of industries are most at risk, new research has revealed the top ten industries losing the most money due to data breaches.

A review of ProxyRack analyzes the countries and industries that lose the most money due to data breaches and data has been provided a Digital magazine for review. In addition to highlighting specific industry sectors, the review points to countries that are often the targets of data breaches.

Top 10 industries losing the most money to data breaches

Range Industry Average Cost of Data Breach
one Health care $9,230,000
2 Financial $5,720,000
3 pharmaceutical products $5,040,000
4 Technology $4,880,000
5 Energy $4,650,000
5 Services $4,650,000
7 Industrial $4,240,000
8 Entertainment $3,800,000
9 Education $3,790,000
10 Transportation $3,750,000

The chart indicates that healthcare has been named the industry losing the most money to data breaches with an average cost of almost $4 billion more than any other industry.

In terms of geographic distribution, the US is the most commonly targeted country in the world for data breaches with more than seven million breaches per million people. France followed in second place, with South Sudan in third.

The scale of these data breaches is also costly. In 2021, the average cost of data breaches for companies with 81 to 100 percent remote employees was more than $5.5 million, while companies with 61 to 80 percent remote employees had an average cost of data breach of just under $4.4 million.

He average cost of a data breach it now stands at $4 million, or $138 per lost or stolen record. For some industries, the sensitive nature of the data transmitted over their networks makes this number even higher.

Given the high ranking of the US in terms of the number of attacks, the resulting costs are also higher. In total, the US has had more than 2.4 billion data breaches, of which 30 million occurred in 2022 and 452 million in the last three years.

It is therefore not surprising that the US has the highest cost of data breaches in the world, with an average cost of $9.05 million. The Middle East followed in second place with an average cost of $6.93 million, with Canada in third place.

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