2023 data breach costs in India rise 28% to $2.18 million, with phishing as the most common attack type.

The cost of data breaches in India has increased by 28% to $2.18 million in 2023, according to RBI's Currency and Finance report. Phishing is the most common attack type, accounting for 22% of incidents, followed by stolen or compromised credentials at 16%. Globally, cybercrime costs are projected to reach $13.82 trillion by 2028, with the global average data breach cost at $4.45 million.