Over the last year, the attacks that gained
momentum are account compromise in the cloud and targeted attacks
on premises.
FRISCO, Texas, May 1, 2024 /PRNewswire/ -- Netwrix, a vendor
that delivers effective and accessible cybersecurity to any
organization, today announced the release of its annual global 2024
Hybrid Security Trends Report based on a global survey of
1,309 IT and security professionals. It reveals that 79% of
organizations spotted a cyberattack within the last 12 months, up
from 68% a year ago. Moreover, 45% of those organizations incurred
unplanned expenses, and 1 in 5 (20%) reported losing a competitive
edge due to these attacks. The share of those who faced dire
consequences soared: 16% experienced a decrease in company
evaluation, and 13% had to deal with lawsuits compared to only 3% a
year ago.
"Growing security awareness at the executive level means a
better understanding that the risks of security gaps extend far
beyond downtime and data loss. As a result, more organizations are
investing resources into audits to investigate the root cause of a
security incident to prevent similar events in the future,"
explains Ilia Sotnikov, Security
Strategist at Netwrix.
1 in 6 (17%) organizations estimated their financial damage from
cyber incidents to be at least $50,000. In addition, the share of those who
faced no financial consequences dropped from 47% to 38% compared to
last year. To mitigate the risk of financial loss from data breach,
organizations often opt to purchase cyber insurance. Indeed, 62% of
respondents confirmed having a cyber insurance policy or planning
to purchase one within 12 months. Almost 1 in 5 (19%) insured
organizations used their policy last year.
"Considering the high chances of a payout request, it's no
wonder the requirements for obtaining a policy have become
stricter. The survey shows that insurers are now more likely to
require identity and access management as well as privileged access
management," says Dirk Schrader, VP
of Security Research at Netwrix. "These solutions significantly
complicate the privilege escalation for the attacker and their
lateral movement. As a result, the security team has more time to
spot suspicious activity and respond to the attack before any
serious damage occurs."
Other notable survey findings include:
- Phishing is still the most common attack vector both on
premises and in the cloud: 74% of respondents suffered this type of
cyberattack.
- Account compromise attacks in the cloud spiked, with 55% of
respondents reporting them in 2024, compared to 39% in 2023, 31% in
2022, and just 16% in 2020.
- Targeted attacks on premises continue to intensify: the share
of those who suffered this type of attack increased by 42%, from
19% to 27%.
- Interest in implementing AI tools surged: This year, 28% of
respondents named it among their top IT priorities compared to only
9% in 2023.
"The interest in AI is surging across enterprises – both within
the security department and outside. The introduction of AI tools
like Copilot to assist with regular business processes raises a new
scope of associated security gaps. Since Copilot relies on native
access controls within Microsoft 365, it can access all data a user
can. If the user has been granted inappropriate access to content,
then sensitive information can quickly spiral out of control,"
warns Ilia Sotnikov. "Implementing
and maintaining a strict least-privilege model is a good start to
address the risks associated with Copilot and similar AI-powered
business tools."
About Netwrix
Netwrix champions cybersecurity to ensure a brighter digital
future for any organization. Netwrix's innovative solutions
safeguard data, identities, and infrastructure reducing both the
risk and impact of a breach for more than 13,500 organizations
across 100+ countries. Netwrix empowers security professionals to
face digital threats with confidence by enabling them to identify
and protect sensitive data as well as to detect, respond to, and
recover from attacks.
For more information, visit www.netwrix.com.
CONTACT:
Erin Jones
Avista PR for Netwrix
P: 704.664.2170
E: pr@netwrix.com
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