What is the cost of a cyber attack for a company?

The landscape of cyber threats is constantly evolving, and companies must adopt advanced strategies to protect their data. An innovative and highly effective solution is represented by decentralized cloud, an approach to document management that offers numerous security advantages.

Several companies have faced significant losses due to data breaches, and the costs associated with such incidents are continuously increasing. According to IBM’s recent report on the cost of a data breach, it is estimated that a data breach costs companies an average of $4.45 million globally. In Italy, this value is €3.55 million. Preventing such incidents is crucial, but despite 95% of companies experiencing more than one breach, over half have chosen to pass the costs onto their customers rather than increase the budget allocated to cybersecurity.

The average cost of a data breach in Italy is steadily growing, rising from €3.03 million in 2021 to €3.40 million in 2022 and €3.55 million in 2023. These costs may seem prohibitive for small and medium-sized Italian businesses, but they are influenced by the hardest-hit sectors such as financial services, pharmaceuticals, and the energy sector.

One positive aspect is the decrease in the time required to detect and contain an incident, which was 235 days in 2023, down from 250 days in the previous two years. However, the need for proactive action is evident.

An innovative solution to address cyber threats is the adoption of decentralized cloud for document management. This approach allows for keeping data secure, away from potential server attacks and viruses.

The adoption of the Certiblok approach, which integrates security directly into blockchain development, can also help reduce costs related to data breaches.

Giacomo Beriotto
Social Media Manager Certiblok

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