Guidance Software Security Report Finds a Growing Number of Enterprises Are Preparing for Breaches While Managing Increasing ...
June 29 2017 - 8:00AM
Business Wire
Study finds that while attacks increase and
financial losses mount, an increasing number of companies are
preparing to respond to breaches
Guidance Software, the makers of EnCase®, the gold standard in
forensic security, today announced the results of a survey of IT
and security professionals. The responses indicate that compromise
incidents continue to grow in number, severity, and cost. At the
same time, an increasing number of enterprises are preparing to
respond to a major breach in the coming year.
“As cybercriminals continue to evolve their methods and
capabilities, the challenge facing cybersecurity professionals will
only grow,” said Patrick Dennis, President and CEO of Guidance
Software. “We see this reflected in the data on the frequency of
attacks, costs of a breach and more. Enterprises are beginning to
realize that compromise is inevitable, so they need to ensure that
they have a complete strategy that includes costs for prevention
and deep detection and response tools. In other words, a growing
number of enterprises recognize they live in a world of continuous
compromise and no longer have to fear the breach.”
A summary of the 2017 survey:
Security Breaches
- Types of attacks: Approximately
65% of organizations fell victim to malware-related breaches (up
from 56% in 2016), while 55% experienced phishing-initiated
breaches (down from 58% in 2016). However, only half of respondents
(48%) believe they will need to respond to a breach in the coming
year. Ransomware attacks remained steady year over year at 23%. 9%
paid the ransom in 2017 (no respondents reported paying ransom in
2016).
- Increased financial losses: One
in four organizations suffered significant or minor direct
financial losses due to an attack or breach in the past 12 months.
6% of companies claimed significant financial losses, up from 2% in
2016. 19% of companies claimed minor financial losses in 2017; up
from 11% in 2016. Among those who were hit by directly targeted
breaches, 20% bore costs in excess of $1 million.
Attack Fallout
- Network or business applications
unavailable: 35% of respondents said they experienced
unavailability in 2017, up from 28% in 2016.
- Intellectual property theft or
information confidentiality: 19% of respondents faced property
theft or information confidentially in 2017; up from 13% in
2016.
- Minor financial losses: 19% of
companies claimed minor financial losses in 2017; up from 11% in
2016.
Security Preparedness
- Improved preparedness: 54% of
organizations feel well prepared to respond to a major breach in
the coming year (up from 51% in 2016). Additionally, twice as many
respondents (25%) as last year (12%) said they are looking to build
a formal security and incident management team within the next
year.
- Effect of the cloud: A third of
respondents (32%) believe that the use of cloud services and
applications makes their data less secure.
Top three IT Security Challenges:
- Assessing risk: 35% of
respondents named assessing risk the biggest IT security challenge;
up from 32% in 2016.
- Enforcing security policies: 34%
respondents named enforcing security policies the top challenge; up
from 31% in 2016.
- Managing the complexity of
security: 33% respondents named managing the complexity of
security the biggest challenge, which was the same in 2016.
Survey Methodology
The online survey questioned 330 IT professionals from North
America in May 2017. Respondents had IT security-related job titles
or had IT security job responsibilities. The survey was carried out
in strict accordance with standard market research practices.
About Guidance Software
Guidance (NASDAQ: GUID) exists to turn chaos and the unknown
into order and the known-so that companies and their customers can
go about their daily lives as usual without worry or disruption,
knowing their most valuable information is safe and secure. The
makers of EnCase®, the gold standard in forensic security, and
EnForce™, an automated cyber risk management platform, Guidance
provides a mission-critical foundation of market-leading
applications that offer deep 360-degree visibility across all
endpoints, devices and networks, allowing proactive identification
and remediation of threats.
From retail to financial institutions, our field-tested and
court-proven solutions are deployed on an estimated 34 million
endpoints at more than 70 of the Fortune 100 and hundreds of
agencies worldwide, from beginning to endpoint.
For more information about Guidance Software, please visit
guidancesoftware.com, "Like" our Facebook page, follow us on
Twitter, or follow our LinkedIn page.
Guidance Software®, EnCase® and EnForce™ are trademarks owned by
Guidance Software and may not be used without prior written
permission. All other trademarks and copyrights are the property of
their respective owners.
GUID-F
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170629005243/en/
Guidance SoftwareAustin DeArmanO: 626-768-4641M:
202-341-9181newsroom@guid.com
Guidance Software, Inc. (NASDAQ:GUID)
Historical Stock Chart
From Apr 2024 to May 2024
Guidance Software, Inc. (NASDAQ:GUID)
Historical Stock Chart
From May 2023 to May 2024