The global average cost of a data breach has dropped for the first time in five years, although not in Canada, a new report indicates.
The average cost of a data breach between March 2024 and February 2025 decreased to $6.4 million from $6.6 million the year before, according to a July 30 report by technology giant IBM and U.S.-based cybersecurity research centre Ponemon Institute.
Although global costs are declining due to less time taken to investigate breaches resulting in shorter breach life cycles, cyberattack costs in Canada have increased, the report indicates.
“Data breaches in Canada are becoming more costly and complex,” a July 30 IBM press release says….