- IBM: Data leaks more expensive - German firms fix them quickly
German companies are particularly quick at detecting and addressing data breaches, according to an IBM study. On average, they took 185 days to identify and contain such incidents, which is 73 days less than the global average, IBM further reported.
However, costs have significantly increased in Germany. IBM calculated an average of 4.9 million euros, which is 14 percent more than last year. Worldwide, costs also increased, by 10 percent to around 4.5 million euros, but at a slightly slower pace.
However, these numbers should be viewed with caution, as they are based on relatively few cases, especially for Germany. The annual study considered damage incidents at around 600 companies worldwide between March 2023 and February 2024, with 47 of them being in Germany.
Despite the lower timeframe for addressing data breaches, other countries may still incur higher costs due to varying factors. The overall trend suggests an upward trend in data breach-related expenses worldwide, not just in Germany.
