The latest “Cost of Data Breach Study” commissioned by IBM and conducted by the Ponemon Institute found that the average cost of a global data breach actually increased 15 per cent last year.

“Perhaps even more surprising is that the average cost of these incidences reached an astounding $3.5 million; far more than what many companies consider when evaluating cybersecurity threats,” said Dr Tamer Aboualy, Chief Technology Officer of Security Services at IBM MEA.