Data breaches in today’s technology-driven world can affect hundreds of millions, if not billions, at once. Companies must ensure that data is adequately protected. However, some of the largest breaches have occurred in the last decade.
But which state in the United States has suffered the most monetary losses as a result of corporate data breaches?
Interested in this, Forbes Advisor utilized the FBI’s Internet Crime Complaint Center (IC3) data from the past five years to determine which US state had the most corporate breaches, and which had the highest total cost lost.
Forbes Advisor can reveal that California has experienced the most corporate data breaches in the last five years! The state has seen a total of 1,807 different business data breaches, resulting in losses of $81,013,216. California has seen financial losses increase by 253% in the last five years, with 2017 being the worst year in the state for data breaches, with 632.
Florida is second, with 956 businesses in the state suffering data breaches, resulting in losses of $57,773,356. Over the last five years, financial losses have increased by 154%, with 2017 again being the worst year for business data breaches in Florida overall, with 300.
Texas ranks third, with a total of 1,587 corporate data breach victims. Despite having more businesses affected by data breaches than in Florida (956), Texas ranks lower with business losses totaling $48,592,966.
New York comes in fourth with 705 businesses affected by a data breach and a loss of $38,611,033, while Pennsylvania rounds out the top five with 380 data breach victims and a loss of $17,812,711.
Rob Watts, a Business Editor at Forbes Advisor shared his tips for trying to keep your company’s data safe:
"All told, there is no single solution when it comes to protecting your company's data. True protection comes from a combination of the right software tools, employee knowledge on cyber threats, and established best practices in using company tech. Many data breaches come as a result of human error, so it's important to make your employees as knowledgeable as possible when it comes to spotting and countering threats."
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