Consumers would stop doing business with a company known to have experienced data breaches.
According to an IBM report, nearly half of consumers surveyed said they had taken this action. This is alarming news when coupled with the global average cost of a data breach reaching an all-time high of $4.35 million for studied organisations.
Now in its 17th year, the Cost of a Data Breach Report – conducted independently by Ponemon Institute, and sponsored, analysed and published by IBM Security – studied 550 organisations impacted by data breaches occurring between March 2021 and March 2022.