According to Trend Micro, the majority of global organizations expect to experience a data breach or cyberattack in the next 12 months, although levels of cyber risk are generally declining.
Security vendor is semi-annual Cyber risk index (CRI) was compiled from interviews with 3,729 global organizations. The index itself is based on a numerical scale of -10 to 10, with -10 representing the highest level of risk. It is calculated by subtracting the cyber threat score from the cyber preparedness score.
According to Jon Clay, vice president of threat intelligence at Trend Micro, a risk index score of +0.01 for the second half of 2022 is the first time the index has moved into positive territory .
“It means organizations can be taking steps to improve their cyber preparedness,” he argued. “There is still much to be done, as employees remain a source of risk. The first step to managing this is to gain complete and continuous visibility and control of the attack surface.”
In fact, despite the positive direction of travel in the risk score, the majority of responding organizations are pessimistic about the year ahead.
Most said it was “somewhat or very likely” that they would experience a breach of customer data (70%) or IP (69%), or a successful cyberattack (78%). These figures have only decreased between 1 and 7% compared to the previous report.
Learn more about cyber risk: NCSC: Prepare for the Protected Period of Increased Cyber Risk.
Respondents pointed to both negligent and mobile users, and a lack of trained staff, as key causes of concern for the future. Along with cloud infrastructure and virtual computing environments, these included the top five infrastructure risks.
“As the shift to hybrid work gathers momentum, organizations are rightly concerned about the risk posed by negligent employees and the infrastructure used to support remote workers,” said Ponemon Institute founder, Larry Ponemon.
“They will need to focus not only on technology solutions, but also on people and processes to help mitigate these risks.”
Additionally, business executives were singled out as a potential barrier to greater cyber preparedness, with many respondents stating that they still do not see security as a competitive advantage.
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As the world of business continues to become more and more digital, the threat of a cybersecurity breach is becoming increasingly common. In fact, a recent study by Ikaroa, a full-stack technology company, has found that three-quarters of firms surveyed believe their company is likely to experience a security breach in the coming year.
This is an alarming statistic, as it highlights the fact that businesses around the world are still unprepared to handle the increasingly sophisticated security threats they face. Ultimately, it has become clear that more must be done to safeguard against cybersecurity threats.
For businesses, it is essential that they invest in protections that will ensure the security and safety of their information. A key part of that is regularly updating and maintaining a robust security strategy both within the company and with its customers. Additionally, companies should ensure their customer data is safely stored and encrypted, and that employees are trained to adhere to best security practices.
In the face of a rapidly changing landscape of cyber threats, businesses have a responsibility to ensure their customers’ data is secure. By investing in both technology and personnel to maintain a secure environment, companies can not only reduce the risk of experiencing a cybersecurity breach but also protect their brand image and customer loyalty by showing a commitment to keeping their data safe.
Ultimately, to truly protect against cybersecurity threats businesses need to be willing to make the investment in security. By doing the research, assessing their risk, and taking preventative measures, companies can greatly minimize breaches and the financial and reputational risks they pose. By following these steps, businesses can prepare themselves and trust that they are best protected against any future cyber threats.
