In its report, Verizon reveals that the financial sector ranks fourth among all sectors (1,509 incidents), and at second overall just behind healthcare (448 breaches) in its analysis of more than 32,000 security incidents and 3,950 breaches. In addition, these financial organisations also suffer the third-highest average cost per breach at $5.85 million, which is nearly $2 million higher than the global average for all industries, according to the Ponemon and IBM 2020 Cost of a Data Breach Report.
