One-third of organisations report data breaches costing over $1 mn in 3 yrs

Close to one-third of cyber security leaders at private firms have reported that most of their serious data breaches within the past three years have cost them at least $1 million, a new PwC report says.

About 8 per cent of organisations have reported that these data breaches have cost them over $20 million, the report said, while more than four of ten security leaders and chief financial officers (CFOs) have witnessed a data breach costing them over $500,000 since 2021.