MANILA -- The average cost of a data breach in the Philippines and the ASEAN has hit a new record high of $3.05 million, IBM Security said on Wednesday.

IBM said this is a 6 percent uptick from last year's figures--and an all-time high for their annual Cost of a Data Breach Report.

Detection and escalation costs jumped 15 percent over the same period indicating a shift towards more complex breach investigations.

The report also noted that breached organizations were more likely to pass incident costs onto consumers (57 percent) than to increase security investments (51 percent).

Globally, only one-third of studied breaches were detected by an organization’s own security team, compared to 27 percent that were disclosed by their attacker, IBM said.

Financial services and energy companies saw the highest breach costs, the report noted.

The study also found that organizations with extensive use of artificial intelligence and automation cut breach life cycles by 99 days, and reduced data breach costs by nearly $1.25 million.

In ASEAN and the Philippines, nearly 38 percent of data breaches studied resulted in the loss of data across multiple environments including public cloud, private cloud, and on-premises, which shows that —showing that attackers were able to compromise multiple environments while avoiding detection.

The data breach report is based on an analysis of data breaches experienced by 553 organizations globally.

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