Data breaches cost, on average, $9,440,000 per year, just in the U.S. alone according to a report by IBM. It explains that the use of ransomware in connection with a data breach has grown by 41%, and in 2022, it took an average of nine 9 months to identify and contain a breach.
While major data breaches are often found with large companies, for example, AT&T, Twitter, Meta, and T-Mobile have all reported data breaches within the last year, the biggest breaches of personal identity information come from phishing schemes. This is malware that poses as a legitimate email or instant message from someone you know or a company you do business with. It asks for personal information, like login credentials or bank accounts, to steal your identity.
