According to the Institute's report Ponemon & #8211; The overall cost of cyber security for businesses increased 22.7% last year to an average of US $ 11.7 million, mainly due to the increased number of security breaches.
The price of a cyber attack varies significantly depending on the type of breach a company experiences, the size, industry and country of the company, and how well prepared for an attack. The number of violations increased on average by 27.4 percent year on year.
The report was based on 2,182 interviews from 254 companies in seven countries.
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