This past Memorial Day weekend – we detailed the horrors of multiple cyber attacks and breaches which took place.
Today we shared how the Equifax breach of 2017 is still causing problems for the company. Equifax just received a Moody’s downgrade as a result of the breach – this is the FIRST time Moody’s has ever cited cybersecurity as a reason for a downgrade.
It is natural to wonder what the state of cybersecurity is these days. Mimecast just released a survey of over 1,000 global IT decision-makers with details:
- Expect more incidents like the recent Baltimore ransomware attack: More than half of organizations were directly impacted by a ransomware attack (double last year’s 27% figure).
- Data breach costs are rapidly rising: Organizations are paying upwards of $4 million on average, not including their data and customer losses.
- Employees’ bad habits are as contagious (and lethal) as the flu: 71% of respondents have been hit by an attack where malicious activity has spread from one infected user to other employees.
- No one has learned their lesson: Despite the increase in threats, as well as the implementation of fine-heavy regulations like GDPR, more than half (46%) of stakeholder organizations don’t have a cyber resilience strategy in place.
Ransomware is a global plague but only Germany, the US and UAE have seen 60% or more companies hit in the past 12 months. Australia is at 51%, The Netherlands at 48% and the UK at 39%.
Even at tech firms, where users are thought to be sophisticated, 12% or more click on phishing e-mails in large-scale phishing tests.
The report is very helpful and confirms what we see in news reports. Cybersecurity is becoming more challenging and companies need to take the proper steps to stay secure.