{"id":820,"date":"2021-11-08T16:54:06","date_gmt":"2021-11-08T16:54:06","guid":{"rendered":"https:\/\/www.oasisdiscovery.com\/ediscovery-unredacted\/?p=820"},"modified":"2021-11-08T16:54:08","modified_gmt":"2021-11-08T16:54:08","slug":"2021-data-breach-statistics-to-know","status":"publish","type":"post","link":"https:\/\/www.oasisdiscovery.com\/ediscovery-unredacted\/security\/2021-data-breach-statistics-to-know\/","title":{"rendered":"2021 Data Breach Statistics to Know"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.oasisdiscovery.com\/ediscovery-unredacted\/wp-content\/uploads\/2021\/11\/2021-Cybersecurity-Snapshot-final.png\" alt=\"\" class=\"wp-image-827\" width=\"381\" height=\"2178\" srcset=\"https:\/\/www.oasisdiscovery.com\/ediscovery-unredacted\/wp-content\/uploads\/2021\/11\/2021-Cybersecurity-Snapshot-final.png 800w, https:\/\/www.oasisdiscovery.com\/ediscovery-unredacted\/wp-content\/uploads\/2021\/11\/2021-Cybersecurity-Snapshot-final-768x4390.png 768w, https:\/\/www.oasisdiscovery.com\/ediscovery-unredacted\/wp-content\/uploads\/2021\/11\/2021-Cybersecurity-Snapshot-final-358x2048.png 358w\" sizes=\"(max-width: 381px) 100vw, 381px\" \/><\/figure><\/div>\n\n\n\n<p>In 2021, the cost of a data breach\nincreased by the largest margin in seven years. It\u2019s reached an unbelievable average\nof $4.24 million dollars, or an average 38% of total revenue loss per\norganization. Why such an exorbitant cost? Primarily, it\u2019s a result of lost\nbusiness due to downtime, poor reputation, and the need for acquiring new\nclients. Other factors, however, contribute to the cost: legal expenses,\nregulatory fines, crisis management and communications, forensic\ninvestigations, etc. <\/p>\n\n\n\n<p>Essentially, it costs <em>a lot, <\/em>and the risk only continues to grow<em>. <\/em>With breaches, the business loss will always be far greater than any charges for initial prevention and protection. Some organizations may avoid implementing proper security measures for a variety of reasons, but the risk isn\u2019t worth it. The following percentages may surprise you: they refer to the causes of <em>confirmed <\/em>breaches (\u2018security incidents\u2019).<\/p>\n\n\n\n<h3><strong>What causes a security incident?<\/strong><\/h3>\n\n\n\n<ul><li><strong>52%<\/strong> are caused by <strong>malicious attacks<\/strong>\n(stolen or compromised credentials, cloud misconfiguration vulnerability,\nthird-party software vulnerabilities, phishing, physical security compromise) <\/li><li><strong>25%<\/strong> are caused by <strong>system glitches<\/strong> (transient\nsystem errors)<\/li><li><strong>23%<\/strong> are caused by <strong>human error<\/strong>\n(downloading a malware-infected file, weak passwords)<\/li><\/ul>\n\n\n\n<p>When information is <em>potentially exposed <\/em>(\u2018security event\u2019), human error skyrockets to <strong>95%<\/strong>. Protecting against risk factors like these is necessary and <em>directly correlated<\/em> to the chance and cost of a breach. <\/p>\n\n\n\n<h3><strong>What affects the cost of a breach? <\/strong><\/h3>\n\n\n\n<ul><li>The largest cost mitigator was the use of <strong>security\nAI and automation, <\/strong>which decreased the cost of a breach by <strong>80%.<\/strong><\/li><li>The use of <strong>security analytics<\/strong> reduced\nbreach cost by <strong>33%. <\/strong><\/li><li>Organizations using <strong>high standard\nencryption<\/strong> (at least AES 256 encryption at rest and in motion) had an\naverage total breach cost <strong>29% less<\/strong> than those using low standard or no\nencryption.<\/li><\/ul>\n\n\n\n<p>Other things can affect the cost, like business size and\nremote work, but it comes down to technology and security. Organizations with smart,\nfully deployed security can detect and contain a breach more quickly than those\nthat do not, thus lowering the overall damage. On all counts, the less mature\nan organization\u2019s security posture, the more likely a breach is to occur, the\nlonger it takes to contain, and the more money it will cost. <\/p>\n\n\n\n<h3><strong>Takeaway: Risk Mitigators<\/strong><\/h3>\n\n\n\n<ul><li>Audit your security and determine where the gaps\nare and how to fill them<\/li><li>Implement AI security and automation to help\nimprove detection and response times<\/li><li>Carry out regular penetration testing and\nincident response testing to increase resilience<\/li><li>Use tools that help protect and monitor\nendpoints and remote employees<\/li><li>Invest in compliance programs for risk\nmanagement purposes<\/li><\/ul>\n\n\n\n<p>All these data points reinforce the fact that well-developed security is an absolute business necessity for the sake of business continuity, reputation, data privacy, and so much more. This is why Oasis utilizes layered defense\u2014a wide variety of tools, methods, and verified frameworks\u2014to continuously monitor and manage the protection of our (and our clients\u2019) data, endpoints, and environments. For more information on how to decrease your risk or to talk with a security professional, <a href=\"https:\/\/www.oasisdiscovery.com\/#contact\">contact us.<\/a><\/p>\n\n\n\n<p><strong>Sources<\/strong><\/p>\n\n\n\n<ol><li><a href=\"https:\/\/www.ibm.com\/security\/data-breach\"><strong>Ponemon\nInstitute &amp; IBM Security 2021 Cost of a Data Breach Report<\/strong><\/a><strong><\/strong><\/li><li><a href=\"https:\/\/bigid.com\/blog\/cybersecurity-stats-guide-2021\/#breaches2\"><strong>Cybersecurity Stats to Know in 2021: 7-Point Guide<\/strong><\/a><strong><\/strong><\/li><\/ol>\n","protected":false},"excerpt":{"rendered":"<p>In 2021, the cost of a data breach increased by the largest margin in seven years. It\u2019s reached an unbelievable average of $4.24 million dollars, or an average 38% of total revenue loss per organization. <\/p>\n","protected":false},"author":2,"featured_media":832,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":""},"categories":[4],"tags":[56,17],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>2021 Data Breach Statistics to Know | Oasis Blog<\/title>\n<meta name=\"description\" content=\"In 2021, the cost of a data breach increased by the largest margin in seven years\u2014it&#039;s reached $4.24 million dollars or 38% of total business loss.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oasisdiscovery.com\/ediscovery-unredacted\/security\/2021-data-breach-statistics-to-know\/\" 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