Data breaches are here to stay. As per recent research from Bitdefender, 60% of businesses have faced a data breach in the last three years; the numbers show no sign of abating.
Even as enterprises continue to embrace innovative technologies, the threat landscape and capabilities of attackers continue to grow more complicated. Businesses are facing more cybersecurity risks more than ever. As research from Bitdefender recently revealed, almost 57% of IT professionals say their cybersecurity tools have worked, and 26% of IT professionals still believe that their businesses could be undergoing a breach without them even being aware of it.
The research says that most significant threats today are whaling or phishing attack-at 36%. These are followed by Trojans 29% and Ransomware at 28%. Almost one-fourth of the InfoSec professionals revealed that by the end of July 2019, their company had suffered data breaches in the first half of this year.
But this is not only an increasingly complicated threat landscape that IT professionals need to be concerned about. Poor cybersecurity is an undeniable threat to firms. From inadequate training and squeezed budgets to a lack of resources and talent, cybersecurity teams are under tremendous strain to ensure their firms are protected and employees are sufficiently skilled. Over half, which is 53% of security professionals, have considered leaving their current role due to being under-resourced both in terms of staffing and financially.
If businesses don’t start investing the money, time, and resources into their cybersecurity infrastructure, they might face dangerous consequences like compliances and fines. In fact, the penalties issued this year under GDPR have increased significantly. But the most significant impacts feared by IT professionals are about business interruptions (43%) and reputational damage (up to 38%). With the continuing media focus on cybersecurity failures, organizations that are left exposed to an attack could be subject to unavoidable damages.
For firms to truly get on top of their cybersecurity pyramid, the best place to start is focusing on educating employees and ensuring updated cybersecurity training. One of the main drivers for boosting an organization’s cybersecurity is improvising data protection and faster detection with prompt response capabilities. Speed is of the true essence when it comes to detecting and protecting against a cyber threat. Agile firms can isolate and remediate cyber threats much faster. The technological transformation will aid in the discovery of risks, and using tools such as ‘network traffic analysis’ and antivirus technology is vital. This could be the most significant defense against cybersecurity is ensuring a safe perimeter. Interestingly, 70% of InfoSec professionals believe that endpoint security detection and response can prevent future attacks.
Ultimately, organizations need to scrutinize whether their current cybersecurity strategy is perfect for the purpose. However, to successfully protect themselves against a cyberattack, organizations cannot rely on one specific approach alone. A multi-pronged approach keeps safety nets alive.