What Are The Costs Of A Cyber Attack?
The cost of a cyber attack can vary greatly depending on several factors, such as the size of the organization, the type of data that was compromised, and the response time to the attack. On average, the cost of a cyber attack can range anywhere from a few thousand dollars for a small business to several million dollars for a large enterprise.
According to a study by the Ponemon Institute, the average cost of a data breach in the US was $8.64 million in 2022. Other studies have estimated the average cost to be anywhere from $200,000 to $600,000, again, depending on the specifics of each individual case.
It's important to note that the financial impact of a cyber attack goes beyond the direct cost of resolving the attack. Reputational damage, loss of customers, and decreased stock value are also significant factors that contribute to the total cost of a cyber attack.
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