The reality of cybersecurity challenges in organizations

Cybersecurity has been a hot topic for years, but the challenges facing companies and organizations are far from new. The problem has existed for decades, but only recently have we started to see it as a major threat to business.

?In fact, according to the 2022 Ponemon Cost of Insider Threats Global Report

• The cost of credential theft to organizations increased 65% from $2.79 million in 2020 to $4.6 million at present.
• The time to contain an insider threat incident increased from 77 days to 85 days, leading organizations to spend the most on containment.
• Incidents that took more than 90 days to contain cost organizations an average of $17.19 million on an annualized basis.

Despite these alarming numbers, many companies still don't take cybersecurity seriously enough—and this is where the problems begin! When companies don't invest in security measures or train employees about how to recognize threats and protect themselves from them, they're setting themselves up for failure (or worse).

?Here are some of the biggest challenges we face:

?1) The most common cause of data breaches is human error, which means that it's often not technical issues that lead to security breaches—it's our own employees who are letting us down.

?2) The average cost of a data breach is $3.62 million—and that's just the cost associated with lost revenue and damaged reputation; there are also legal fees and other costs associated with breach response management, which can add even more to this figure.

?3) Cybersecurity threats are on the rise: according to Gartner, By 2025, cyber attackers will have weaponized?operational technology?(OT) environments to successfully harm or kill humans, according to Gartner, Inc.