There has been a really significant increase in the business disruption that breaches have on an organization. So it's not just the actual impact of the breach and recovering from it, but often it's tangential things that happen that are attached to the breach.
If you look at the MGM casinos and resorts hack that happened last year, for example, not only was that bad in terms of the actual impact of the attack, but also the associated business disruption was huge. People couldn't get into their hotel rooms, restaurants were taking orders on paper.
Another factor exacerbating data breach costs are widening skills shortages, with more than half of the organizations surveyed by IBM said they faced 'severe' security staffing issues.
IBM found security skills gaps increased by just over 26% since 2023, which corresponded to firms incurring increased recovery costs from a cyber intrusion, by an average of $1.76 million.
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