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On today’s edition of Up To Speed, host Jennifer Marin walked us through the exciting release of Verizon Business’s 16th annual Data Breach Investigations Report (DBIR).

Cyber crime is getting more sophisticated by the years, and it doesn’t always come in the form that you’d expect. That’s where the DBIR comes in, it was created to provide security professionals with data-driven, real-world views on common cyber crimes against companies.

Because of its key findings, the DBIR has become the leading authority on assessing the many cybersecurity threats that organizations face every day.

This year the report analyzed 16,312 security incidents and 5,199 breaches. Chief among its findings is the soaring cost of ransomware – malicious software (malware) that encrypts an organization’s data and then extorts large sums of money to restore access. Still, the human element makes up the overwhelming majority of incidents and is a factor in 74% of total breaches, even as enterprises continue to safeguard critical infrastructure and increase training on cybersecurity protocols.

An important anniversary

In the spirit of recognizing the DBIR, we also took a moment to recognize the 20th anniversary of a very important team that specializes in helping organizations around the world create effective incident response plans.

The Verizon Threat Research Advisory Center also known as VTRAC is a specialized division within our Cyber Security Consulting organization consisting of widely diverse professionals with military, law enforcement and IT expertise.

As stated, their main objective is to help our global customers regain control and mitigate cyber threats from their networks, applications and devices.

Congratulations to the team for 20 years of excellence!

Key takeaways

So what’s most important to know from the DBIR? Managing Director of Cybersecurity Consulting at Verizon Business, Chris Novak, shared some key takeaways from this year’s DBIR report. He stressed that companies need to continue focusing on the basic fundamentals in order to avoid getting knocked over by cyber criminals, while having a policy and procedures in place that the entire organization is on board with to deal with possible security breaches.

DBIR in action.

As noted, the purpose of the DBIR is to help organizations make the best possible decisions to ensure their overall cybersecurity.

The DBIR has helped companies like Fannie Mae, a leading source of financing for mortgages in the United States. The company’s Chief Information Security Officer, Christopher Porter shared how much he appreciates the real-world data that is used to craft the report and the longevity of the DBIR, which has helped him determine the kinds of trends that are happening across the industry.

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