12th September 2023, London: Integrity360, Europe’s front-runner in cybersecurity insights, has unveiled research that every IT professional should heed. Amidst the myriad of cybersecurity threats that have emerged over the years, a new villain has stolen the spotlight – data theft.
Key Takeaways:
Shifting Threat Landscape: While ransomware has been a consistent concern, its notoriety is being overshadowed. 55% of surveyed IT decision-makers cited data theft as their paramount worry, relegating ransomware to third place, following phishing.
C-Level Executives Share Concerns: For CIOs and CTOs, advanced persistent threats (APTs) and targeted attacks now rank higher on the worry scale than ransomware. Given the implications of APTs, such as national-level espionage, this shift in concern is justified.
Incident Frequency: Data theft incidents (27%) are second only to phishing (46%) in commonality. Ransomware, while still a concern, falls behind as one of the least frequent incidents.
Sleepless Nights: IT pros are losing sleep over the need to protect sensitive data, which topped the list at 48%. This is closely followed by concerns around risk management and identity defense.
With cyber threats perpetually evolving, our digital realm is fraught with risks. The findings from Integrity360 spotlight a marked increase in security alerts, with 89%** of IT security decision-makers observing a rise in the past year.
Brian Martin from Integrity360 opines, “Our IT landscape has undergone significant transformations. With businesses employing multi-cloud strategies, it’s crucial to consolidate cybersecurity mechanisms to fortify risk posture and optimize costs.”
But it’s not just about identifying threats; there are significant challenges in responding to them. The study unveiled budgetary constraints as the chief hurdle, with 31% flagging insufficient budgets for incident response. Martin emphasizes the imperative need for businesses to prioritize cybersecurity spending, arguing that the long-term fallout of data breaches can eclipse the initial investment costs.
Perhaps the most illuminating insight from the research is the psychological burden on IT professionals. 40% found the need for swift response stressful, while 31% were burdened by the immense responsibility. Interestingly, C-level executives were more fearful of being incorrect in their response than their counterparts, underlining the profound consequences a misstep can have on their tenure and reputation.
This research serves as a clarion call for all businesses. In a dynamic digital landscape, data theft has emerged as the silent predator, necessitating proactive, robust, and efficient cybersecurity measures. Only then can businesses truly safeguard their most valuable assets in this digital age.
Research Methodology Note: This study was conducted by Censuswide, surveying 205 IT security decision makers between 09.08.2023 – 14.08.2023.
