Data Breach Costs Reach Record High, Urgent Patching Crucial for Businesses
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Data Breach Costs Reach Record High, Urgent Patching Crucial for Businesses

Surprisingly, more than a third (37%) of victim organizations chose not to engage law enforcement, and nearly half (47%) ended up paying the ransom demand. The report advises businesses to abandon misconceptions around ransomware and encourages them to involve law enforcement, as paying a ransom without involving the police may lead to higher incident costs and slower responses.

With the costs of data breaches escalating, it’s critical for businesses to prioritize cybersecurity measures and stay vigilant in patching vulnerabilities. Embracing AI and automation can prove to be valuable tools in streamlining breach responses and minimizing financial and reputational damages.