Evolving Threats Need Advanced Protection
As cyberthreats continue to surge at an alarming rate, government officials, executives, software developers and IT professionals are all struggling to stay ahead of cyber criminals. While developers and technology leaders race to get ahead, businesses are under pressure to adequately protect their networks and data from these cyberattacks that continue to evolve. Along with the increase in the number and severity of attacks, there is also an acute resource challenge to be addressed within most organizations as IT teams with inadequate budgets remain understaffed and widely ill-equipped to properly address the rising risk level.
Threats Are Advancing at An Alarming Rate
2021 was a record-shattering year for cyberattacks world-wide for both the volume and cost of attacks. According to Check Point Research, cyberattacks increased 50% in 2021 over 2020. And IBM’s Cost of Data Breach Report noted the cost of cyberattacks in 2021 increased over 10%, bringing the cost of a cyberattack to the highest level ever recorded in the 17-year history the report. We speculate this high level of attack rate can be attributed to much of the workforce remaining remote and virtually powerless outside the safety of a secure internal company network, drastically increasing the amount of vulnerabilities within an organization’s digital landscape and severely affecting response time for a breach. [Source]
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As alarming as these statistics are for 2021 in total, the number and cost of cyberthreats is expected to continue to grow at a rapid pace throughout 2022. Hackers and bad actors are only getting more creative in their approaches, continuously adapting their attack strategies to overcome known security measures that have been implemented among most organizations. Tactics like Double and Triple Extortion Ransomware attacks, Ransomware as a Service (RaaS) and sophisticated Phishing scams are occurring more frequently, leaving businesses vulnerable despite having cybersecurity measures in place that were once deemed effective.