Data Breach Costs Hit SAR 32.8M in Middle East

Data breach costs in the Middle East continue to climb, with the average cost reaching SAR 32.80 million in 2024, according to IBM’s latest Cost of a Data Breach Report. This marks a nearly 10% increase from SAR 29.90 million in 2023, driven by security skills shortages, regulatory non-compliance, and complex security systems.

The energy sector reported the highest breach costs, averaging SAR 36.90 million, followed by the financial sector at SAR 35.81 million, and the industrial sector at SAR 34.52 million. Lost business, detection and escalation, customer response, and notification costs were key contributors to the rising expenses.

AI and automation emerged as vital tools in reducing breach costs, cutting expenses by SAR 12.31 million on average. Organizations leveraging these technologies also saw faster breach identification and containment. The report underscores the urgency for businesses in the region to adopt advanced cybersecurity measures to mitigate risks and protect sensitive data across various environments.