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SA ranks 9th in countries losing the most money to data breaches

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 01 Mar 2023

Recent research by Proxyrack has identified the top 10 countries losing the most money to data breaches and South Africa features in th 9th place, with an average data breach cost of $3 210 000.

The Proxyrack report also looked into industries losing the most money to data breaches, as well as the countries most commonly targeted by data breaches and the impact remote working has had on the cost of data breaches.

The research also revealed the following:

  • The Unated States is the most commonly targeted country in the world for data breaches with 7 221 177 breaches per one million people. France followed in the second place, with South Sudan taking third.
  • Data breaches in the US are the most expensive, with an average cost of $9 million – just over $2 million more than any other country on the list. 
  • Data breaches in the Middle East are the second most costly ($6.93 million).

  • Canada completes the top three with the average data breach costing $5.4 million. 
  • The industry losing most money to data breaches is healthcare, followed by  financial services and pharmaceuticals.
  • The average cost of a data breach in the healthcare industry is $9.23 million.
  • Russia had over 96 724 450 data breaches in 2022, which is the highest total worldwide.

The top 10 countries losing the most money to data breaches are

You can view the full Proxyrack research rport by clicking here.

Methdology

Proxyrack used IBM’s ‘Cost of a Data Breach Report 2021’ to find out the average cost of a data breach for countries, industries, and the percentage of remote workers.

It then used Surfshark to find out the total number of breaches for each country.

To calculate the breaches per 1 million people, it used World Population Review.

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