Average SA data breach now costs nearly R50-million
shows that the average data breach cost for South African organisations reached R49.5-million in 2023 – an all-time high.
According to the 2023 report, the financial sector experienced the highest average costs of data breaches of R73-million. The industrial and services sectors were second and third, with R71.4-million and R58.8-million, respectively.Most cyberattacks were the result of stolen or compromised credentials and phishing scams, which constituted 14% of the initial attack vectors.
“South Africa is the financial centre and economic gateway to the rest of the continent.
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