Why the cost of getting hacked is higher than ever ...Middle East

The economic pain caused by cyberattacks hit an all-time high during the pandemic, according to an IBM report released today (July 28).For the past 17 years, software giant IBM and the Ponemon Institute, a cybersecurity research group, have been tracking the average cost a business incurs when it faces a data breach, including lost business, regulatory fines, and the costs involved in rooting the hackers out of the network. Between May 2020 and March 2021, that price tag rose to a record-breaking $4.24 million.https://datawrapper.dwcdn.net/zqsiU/1/Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

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