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UK Data Breaches Soar: Customers to Foot the £3.58M Bill
The average cost of data breaches for UK companies has soared to £3.58 million in 2024, with the financial sector hit hardest at £6.05 million per incident. Buckle up, because your wallet might feel the pinch too.
Hot Take:
Data breaches are like bad haircuts – they cost a lot to fix, leave you feeling exposed, and everyone hopes it won’t happen again. UK companies are learning this the hard way, with breach costs soaring faster than my morning coffee bill. Looks like it’s time to invest in some high-tech cybersecurity comb-overs!
Key Points:
- Average data breach cost for UK companies has risen to £3.58 million in 2024.
- Financial sector breaches cost the most, averaging £6.05 million per incident.
- Stolen credentials and phishing attacks are the top initial attack vectors.
- Only 12% of breached organizations recover fully, often taking over 100 days.
- Adoption of AI and automation can speed up recovery, but Gen AI introduces new risks.
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