India Average Data Breach Hits $2.18M

According to a report from the Reserve Bank of India (RBI), India saw the average cost of a data breach reach $2.18 million in 2023, a 28% increase from 2020. The report found that phishing and stolen or compromised credentials were the most common cyberattacks in India, making the automotive sector particularly vulnerable. Meanwhile, the Banking, Financial Services, and Insurance (BFSI) sector was better protected due to stringent regulations.