According to a study by Canalys, the data breach crisis has surged last year, calling for companies to prioritize cybersecurity. The study shows that there were more data breaches last 2020 alone compared to the past 15 years combined.
Canalys said that over the past year, 31 billion of data records have been compromised. A significant increase of 171% from the previous year. This also comprises more than half of the 55 billion total records that have been compromised since 2005. This calls for companies to prioritize cybersecurity. Not to hesitate investing in tightening measures of protection, detection and response. Otherwise, be prepared to suffer the consequence, as reported by Daphne Leprince-Ringuet in zdnet.
Ransomware attacks have increased by 60% from the previous year. Ransomware is a kind of attack that blocks the access to data of the computer system until payment is done.
Canalys said that the surge of cyber criminality is largely due to the COVID-19 pandemic. At the onset of the pandemic, most businesses have been closed due to lockdown. Companies who try to maneuver their way to adapt to the new normal have been forced to speed up digitalization. Even without proper preparations and necessary understanding of the new security required in doing business online.
More and more retailers have resorted to switch to the online platform. While the hospitality sector shifted to the new platforms for home delivery. Many manufacturers embraced digitalization of their supply chains to be more efficient in their production lines.
Meanwhile, many organizations across the world moved entirely to Work at home setup almost immediately. Survey shows that the number of employees working remotely has significantly increased by around 1,500%. From 31 million working remotely during pre-pandemic to around 500 million due to the pandemic.
All of these calls for the need of new security measures, which many businesses have set aside. Giving more opportunities to the perpetrators. Cyber criminals have found a huge potential to exploit the situation. Leading to the massive increase of cyber-attacks.
For businesses to survive and thrive, more investment has been put in digital technologies and the cloud. Companies have to move processes online in order to adapt to the new ways of working. However, cybersecurity concerns are more often set aside, as noted by Canalys.
Although cybersecurity spending has grown by around 10% from the previous year, it is quite small compared to the other spending growth. For instance, cloud services spending has grown to about 33%, while the cloud software services spending grew by 20% during the same period. To put it simply, the speed of digital transformation was not matched accordingly by the sufficient cyber security measurements.
While the surge of cyber-attacks has been ushered due to the pandemic, the threat was actually growing even before the pandemic. In 2019, the number of data breaches had already increased by 200% from the previous year. Calling for an urgent security measurement!
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