You are not alone in believing that your organisation is more vulnerable to a cyberattack as a result of the widespread usage of hybrid working arrangements. 67 percent of enterprises in the United Kingdom, according to a new report from security operations firm Arctic Wolf, share this sentiment, with ransomware being identified as their top security worry.
Over 60% of those who answered the survey (62 percent) stated that they were willing to spend at least $100,000 for the key.
Additionally, a third of those who answered the survey (33 percent) said they had spent between $43,000 and $295,000 to remediate security breaches in the previous calendar year.
Another fifth of respondents (20 percent) admitted to concealing previous cyberattacks in order to retain a positive reputation with the general public and government.
Numerous businesses continue to place a low value on labour expertise and employee security despite widespread concern and evidence of the hazards of cyberattacks.
Over two-thirds (62 percent) of respondents do not trust their personnel to recognise every sort of intrusion, and over a third (39 percent) do not have complete cybersecurity insurance in place, according to the survey.
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According to Ian McShane, field chief technology officer for Arctic Wolf, the majority of these companies do not have a “tools problem,” but rather a “operational issue.” “Organizations can employ security operations to manage the continuously changing threat environment in an easy and straightforward manner.”
Ransomware attacks, Distributed Denial of Service (DDoS) attacks, Business Email Compromises (BECs), and other sorts of fraud have increased in frequency since the majority of individuals began working from their homes in the early 2000s.
Because employees were the primary targets of these attacks, most firms began implementing Zero Trust and SD-WAN solutions, as well as multi-factor authentication, in order to better their odds of surviving.
The need for increased employee education on the dangers of phishing and internet fraud has long been underlined by industry experts, but more recent research suggests that further education has minimal impact on most firms.