Cyber Attacks down, IT Security spending up: key findings in new Cyber Report

Cyber Attacks down, IT Security spending up: key findings in new Cyber Report

Micro Focus Frequent Contributor

The new CyberEdge Cyberthreat Defense Report was just released with some key findings on the challenges faced by IT Professionals. The report is published every year by CyberEdge Group, a premier research and marketing firm serving the security industry’s top vendors. The Report surveyed perceptions and Buying Practices of 1,200 Information Security Decision Makers and Practitioners Across 17 Countries and 19 Industries  We believe in ongoing research to help anyone in the InfoSec space, and are proud to announce that Micro Focus is a Gold sponsor of the report. 

cyberedge.pngSome new trends this year involve ransomware, the act of hackers planting malicious software in a company’s computer ecosystem to hold their data hostage until a ransom is paid. The report found that 55 percent of responding organizations were compromised by ransomware in 2017, down from 61 percent in 2016, good news indeed. However, the other shoe drops, when the report asks about recovered data. Victimized respondents who elected to pay the ransoms (customarily using untraceable Bitcoin!) were asked if they successfully recovered their compromised data. Surprisingly, only half confirmed successful data recovery, while the other half acknowledged complete data loss. 

Of those victims that refused to pay the ransom (61 percent), the vast majority (87 percent) recovered their data from backups. “This just underscores how important it is to incorporate a sensible data backup strategy as part of an organization’s cyberthreat defense strategy,” said Steve Piper, CEO of CyberEdge Group. 

Other Key Findings:

This study is designed to give a 360-degree view of organizations’ security threats, current defenses, and planned investments. The 2018 Cyberthreat Defense Report yielded dozens of additional insights. Key findings include: 

  • Has the bleeding stopped? For the first time in five years, the percentage of organizations affected by a successful cyberattack decreased, from 79 percent in 2016 to 77 percent in 2017. More good news. However, this statistic is bad news wrapped in a thin good news veneer; the number of organizations victimized by six or more successful attacks fell from 33 percent in 2016 to 27 percent in 2017.
  • Security budgets set new record. The percentage of organizations with rising IT security budgets hit an all-time high – from 48 percent in 2014 to 79 percent in 2018. The average IT security budget is rising 4.7 percent in 2018, which now consumes 12 percent of the overall IT budget. Good news that the Board room is paying attention to the need for good IT Security.
  • IT security skills deficit. For the first time in five years, lack of skilled personnel trumped low security awareness among employees as IT security’s greatest inhibitor to success. In 2018, four in five organization are experiencing an IT security skills shortage.
  • Singing the cloud security blues. Nine in 10 organizations are experiencing cloud security challenges, with maintaining data privacy at the top of the list.
  • Containers—the new weakest link. Application containers (such as Docker, Cloud Foundry, and Kubernetes) edge mobile devices as IT security’s new weakest link.
  • Hottest security technologies for 2018. The IT security technologies most planned for acquisition in 2018 include: advanced malware analysis/sandboxing (network security), containerization/micro-virtualization (endpoint and mobile security), and API gateway (application and data-centric security). 

Winner of a 2017 Platinum MarCom Award for research excellence, the Cyberthreat Defense Report is designed to complement Verizon’s annual Data Breach Investigations Report, which evaluates the cyberthreat landscape and describes how threats are used to penetrate computer networks. This report assesses organizations' security posture, gauges perceptions about cyberthreats, and ascertains future plans for improving security and reducing risk. It provides deep insights into how IT security professionals perceive cyberthreats and what they’re doing to defend against them. 

Download the Cyberthreat Defense Report today.

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