Healthcare Breaches Costliest for 12 Years Running, Hit New $10.1M Record High

IBM’s 2022 Cost of a Data Breach report shows that healthcare sector had an average breach cost of $10.1 million, the highest cost on the global average chart, marking a 12-year streak of leading in breach costs. The report also highlights inadequacies in cloud security, lengthy detection times, and costly downtimes as contributing to these high costs. A 10-month detection and containment phase, and losses of $7,900 per minute during downtime were outlined. Cybercriminals often target the healthcare sector due to its urgency in recovery and potentially high ransom payments.