Arctic Wolf published findings from its annual State of Cybersecurity: 2024 Trends report. The information is based on a global survey it commissioned from Sapio Research, of over 1,000 senior IT and cybersecurity decision makers from over fifteen different countries.
The report specifically provides insight into the current and future state of the cybersecurity landscape, allowing organizations to deliver positive security outcomes in an evolving threat environment.
Key findings include:
- 70 percent of organizations were targeted in attempted BEC attacks in the past year, with almost 29 percent becoming victims of one or more successful BEC occurrences.
- 45 percent claiming their organization suffered a ransomware attack in the last 12 months, an increase from last year, with 86 percent of those attacks including successful data exfiltration.
- 66 percent of organizations that suffered a data breach publicly disclosed information regarding their incidents, while 30 percent only disclosed their breaches to impacted parties.
- Just five percent of organizations deciding not to acquire cyberinsurance coverage, while 66 percent have an active cyber insurance policy and 29 percent are in the process of obtaining or planning to obtain a policy this year.
- 94 percent either currently have or plan to implement adoption and usage policies around GenAI and LLM tools.
“This year’s insights highlight the increasing sophistication of threat actors and the realities of cyber incidents for organizations all around the world,” said Ian McShane, VP, MDR, Arctic Wolf. “Attackers are focusing on the human element, as evident with the overwhelming targeting via business email compromise. No matter the method of intrusion, the stakes are even higher for business leaders as most successful ransomware attacks involve data exfiltration. While we are encouraged by the increased adoption of cyber insurance and incident response readiness programs, it is clear that there is still work to be done to overcome perennial challenges for cybersecurity leaders, including the increased financial and productivity losses due to ransomware.”
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