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.
The risks of security gaps extend far
beyond downtime and data loss.
"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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SOURCE Netwrix