{"id":43088,"date":"2023-08-24T08:42:54","date_gmt":"2023-08-24T05:42:54","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=43088"},"modified":"2026-03-28T03:52:18","modified_gmt":"2026-03-28T00:52:18","slug":"ibm-report-total-cost-of-a-data-breach-for-businesses-in-the-middle-east-reaches-sar-29-9-million-the-highest-in-10-years","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/ibm-report-total-cost-of-a-data-breach-for-businesses-in-the-middle-east-reaches-sar-29-9-million-the-highest-in-10-years\/","title":{"rendered":"IBM Report: Total Cost of a Data Breach for Businesses in the Middle East reaches SAR 29.9 million \u2013 the highest in 10 years"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li><em>The financial sector experienced the highest total data breach costs, reaching SAR 35.29 million.<\/em><\/li>\n\n\n\n<li><em>Organizations with security AI\/Automation experienced SAR 12.22 million lower data breach costs than organizations that didn\u2019t&nbsp;<\/em><em>deploy these technologies<\/em><em>.&nbsp;<\/em><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>23, August 2023, Riyadh, Saudi Arabia<\/strong>\u00a0&#8212; IBM (NYSE:\u00a0<a href=\"http:\/\/www.ibm.com\/investor\" target=\"_blank\" rel=\"noreferrer noopener\">IBM<\/a>) Security has released its annual\u00a0<a href=\"https:\/\/www.ibm.com\/reports\/data-breach\" target=\"_blank\" rel=\"noreferrer noopener\">Cost of a Data Breach Report<\/a><a href=\"applewebdata:\/\/CC74E0A6-50EB-416D-9E81-7EDEF8F80A02#_ftn1\"><sup><strong><sup><strong>[1]<\/strong><\/sup><\/strong><\/sup><\/a>, highlighting that the total cost of a data breach for organizations in the Middle East reached SAR 29.9 million in 2023 \u2014 an all-time high for the report. This represents a 15% increase over the last three years and a marked 155.9% increase over the last decade. These figures highlight the importance of advanced solutions to protect businesses and entities across the Middle East in an increasingly connected world.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the Middle East, four process-related activities drive the range of expenditures associated with an organization&#8217;s data breach. Lost business costs topped the list, reaching SAR 10.02 million. This was followed by post-breach responses at SAR 8.86 million, detection and escalation costs at SAR 8.36 million, and notifying relevant stakeholders at SAR 2.36 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The 2023 IBM report highlights that the financial sector experienced the highest total cost of data breaches, reaching SAR 35.29 million. The region\u2019s energy industry ranked second, reaching SAR 33.75 million, while the healthcare sector\u2019s total cost of a data breach reached SAR 32.46 million.&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At a time when digital transformation is reshaping the global economic landscape, presenting both opportunities and unprecedented challenges to businesses and organizations around the world, the IBM report outlines the scale and nature of security issues that Middle Eastern entities must contend with.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>AI Picks Up Speed<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">AI and automation had the greatest impact on the speed of breach identification and containment for studied organizations &#8211;&nbsp;showcasing the value of advanced technology and solutions to enhancing security. The 2023 report shows that organizations based in the Middle East that deployed security AI and automation extensively experienced significantly shorter data breach lifecycles \u2014 a total of 259 days. In stark contrast, organizations that did not deploy these technologies experienced data breach lifecycles of 393 days \u2014 134 days more.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The report also states that organizations that deployed security AI and automation extensively saw, on average, SAR 12.22\u00a0million lower data breach costs than organizations that did not\u00a0deploy these technologies.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2023\/08\/\u062a\u0642\u0631\u064a\u0631-\u062a\u0643\u0644\u0641\u0629-\u062e\u0631\u0642-\u0627\u0644\u0628\u064a\u0627\u0646\u0627\u062a-IBM2_ssict_1024_576.webp\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2023\/08\/\u062a\u0642\u0631\u064a\u0631-\u062a\u0643\u0644\u0641\u0629-\u062e\u0631\u0642-\u0627\u0644\u0628\u064a\u0627\u0646\u0627\u062a-IBM2_ssict_1024_576.webp\" alt=\"\u062a\u0642\u0631\u064a\u0631 \u062a\u0643\u0644\u0641\u0629 \u062e\u0631\u0642 \u0627\u0644\u0628\u064a\u0627\u0646\u0627\u062a IBM2_ssict_1024_576\" class=\"wp-image-43089\" srcset=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2023\/08\/\u062a\u0642\u0631\u064a\u0631-\u062a\u0643\u0644\u0641\u0629-\u062e\u0631\u0642-\u0627\u0644\u0628\u064a\u0627\u0646\u0627\u062a-IBM2_ssict_1024_576.webp 1024w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2023\/08\/\u062a\u0642\u0631\u064a\u0631-\u062a\u0643\u0644\u0641\u0629-\u062e\u0631\u0642-\u0627\u0644\u0628\u064a\u0627\u0646\u0627\u062a-IBM2_ssict_1024_576-300x169.webp 300w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2023\/08\/\u062a\u0642\u0631\u064a\u0631-\u062a\u0643\u0644\u0641\u0629-\u062e\u0631\u0642-\u0627\u0644\u0628\u064a\u0627\u0646\u0627\u062a-IBM2_ssict_1024_576-768x432.webp 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWith the Middle East&#8217;s rapid growth and development, there has been an increase in cyber attacks.\u201d said Saad Toma, General Manager, IBM Middle East and Africa. \u201cEarly detection and fast response can significantly mitigate the damage caused by a data breach. Investments in advanced threat detection and response technologies, using AI and automation, are essential for organizations to stay ahead of cybercriminals.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWith each passing day, the global economic landscape grows more sophisticated, presenting new and unprecedented challenges for businesses to overcome,\u201d said Fahad Alanazi, General Manager, IBM Saudi Arabia. \u201cThis demands equally sophisticated solutions that are fully geared towards empowering organizations to scale the wide-ranging hurdles that line the road to lasting success. At IBM, we pride ourselves on pioneering world-class offerings that safeguard the people, entities and communities we serve. As data breaches become even more damaging and costly,&nbsp;these solutions are essential to helping businesses in the Kingdom navigate the challenges of today\u2019s economic environment.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the Middle East, some additional key findings showed that:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Phishing was the most common cause for data breaches<\/strong>&nbsp;&#8211;&nbsp;constituting 16% breaches experienced in the region and costing businesses and entities SAR 32.2 million. Unknown (zero-day) vulnerabilities accounted for 15%, while attacks through stolen or compromised credentials represented 13% of breaches experienced in the Middle East.&nbsp;<\/li>\n\n\n\n<li><strong>Breaching Data Across Environments&nbsp;<\/strong>\u2013 Over 37% of data breaches studied resulted in data loss across multiple environments \u2014&nbsp;showing that attackers could compromise multiple environments while avoiding detection. Data breaches impacting multiple environments also led to higher costs (SAR 33.20 million on average).<\/li>\n\n\n\n<li><strong>Reducing the Cost of a Data Breach&nbsp;<\/strong>\u2013 The IBM report pinpoints AI and machines learning-driven insights and attack surface management (ASM) tools as two of the most essential factors that can be deployed to reduce the cost of a data breach, reducing costs by SAR 1.13 million and SAR 1.08 million respectively.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The 2023 Cost of Data Breach Report is based on an in-depth analysis of real-world data breaches experienced by 553 organizations globally (including 36 in Saudi Arabia and the UAE) between&nbsp;March 2022&nbsp;and&nbsp;March 2023. The research, sponsored and analyzed by IBM Security, was conducted by Ponemon Institute and has been published for 18 consecutive years.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>End &#8211;<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"applewebdata:\/\/CC74E0A6-50EB-416D-9E81-7EDEF8F80A02#_ftnref1\"><sup>[1]<\/sup><\/a>&nbsp;The 2023&nbsp;Cost of a Data Breach Report, conducted by Ponemon Institute, is sponsored and analyzed by IBM Security.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>23, August 2023, Riyadh, Saudi Arabia\u00a0&#8212; IBM (NYSE:\u00a0IBM) Security has released its annual\u00a0Cost of a Data Breach Report[1], highlighting that the total cost of a data breach for organizations in the Middle East reached SAR 29.9 million in 2023 \u2014 an all-time high for the report. This represents a 15% increase over the last three [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":43090,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":19,"_extra_hide_author_box":"","_extra_featured_post":"0","_partner_post_id":0,"footnotes":""},"categories":[439],"tags":[],"class_list":["post-43088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cybersecurity","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>data breach cost - IBM report hits SAR 29.9m | Saudi Shopper<\/title>\n<meta name=\"description\" content=\"data breach cost in the Middle East reached SAR 29.9 million, per IBM. 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