Average cost of data breach in India touches high of Rs 17.9 cr in 2023: IBM study

New Delhi: The average cost of a data breach in India reached Rs 17.9 crore in 2023, according to the IBM Security report that classified it as an “all-time high” for the report and almost a 28 per cent increase since 2020. The most common attack type in India was phishing (almost 22 per cent), followed by stolen or compromised credentials (16 per cent). Social engineering was the costliest root cause of breaches at Rs 19.1 crore, followed by malicious insider threats, which amounted to nearly Rs 18.8 crore.

Detection and escalation costs jumped 45 per cent over the same time frame, representing the highest portion of breach costs, and indicating a shift towards more complex breach investigations.