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With cyber threats growing in sophistication and frequency, the financial implications of neglecting cybersecurity training are severe and multifaceted.
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The average cost of a data breach ballooned to $4.88 million dollars in 2023, a 10% spike over the previous year. The indirect costs of cyber breaches, such as reputational damage, can be more harmful than the immediate financial penalties. Well-trained employees are less likely to fall prey to phishing attacks or other forms of social engineering.