INDIANAPOLIS (WISH) — Cybercrime is escalating globally, posing significant threats to businesses and consumers, according to Verizon’s 18th Annual Data Breach Investigations Report.
The report analyzed over 22,000 incidents and 12,000 confirmed data breaches across more than 130 countries, highlighting the widespread nature of cyber threats.
“This year’s Data Breach Investigations Report has been a wake-up call for the industry,” Chris Novak, Vice President of Verizon Global Security Solutions, said.
One of the key findings from the report is the dramatic increase in third-party risk, where threat actors exploit vulnerabilities through suppliers and vendors rather than direct attacks.
Small and medium businesses are particularly vulnerable, with ransomware accounting for 88% of the cyber events affecting them, which can threaten their survival.
The report also raises concerns about the security risks associated with personal devices used for work, prompting organizations to reconsider their policies on bring-your-own-device (BYOD).
Novak emphasized the importance of a layered security approach, including securing endpoints, robust password policies, and multi-factor authentication, as part of a defense-in-depth strategy.
He noted that many organizations are unaware of ongoing attacks due to insufficient detection mechanisms, stressing the need for improved visibility and response plans.
As cyber threats continue to grow, businesses and consumers must adopt proactive measures to protect their data, utilizing insights from reports like Verizon’s to enhance their cybersecurity strategies.
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