Data breach average cost touches all-time high in FY24: IBM report

IBM report pointed out that the most common initial attack types in India were phishing and stolen or compromised credentials, accounting for 18% of incidents each, followed by cloud misconfiguration (12%). India’s average cost of data breaches in 2023 at $2.18 million was up 28% since 2020, the Reserve Bank of India (RBI) said in report on Currency and Finance for 2023-24 released two days ago.