GetApp, a recommendation engine that helps SMBs make informed software purchasing decisions, released findings from its 2021 Data Security Report. The results reveal that, regardless of industry, information security incidents have become more of a targeted threat for businesses, increasing in amount and efficacy.
Of all the security incidents identified by over 900 surveyed employees at U.S. businesses, the three most threatening incidents were: increasingly severe ransomware attacks, more effective phishing schemes, and rampant reusing of passwords.
Respondents reported phishing emails have nearly tripled in effectiveness over the past two years. Phishing emails are rapidly becoming more difficult to spot and thus far more destructive.
Over the past year, ransomware attacks have increased by 25%. Ransom demands were significantly higher than average for businesses in specific industries, such as banking and financial services and construction, with higher payouts.
The report found that password reuse is strongly associated with higher incidences of security breaches. Reported account takeovers were three times as common among people who reuse passwords as those who don’t.
Data security threats are becoming more targeted to individual victims, whether that’s a phishing scheme aimed at a specific person or ransomware attacks on a particular company.Companies must redouble security training efforts and fortify their networks to protect against today’s increasingly sophisticated cybercriminals.
Zach Capers, senior analyst at GetApp.
Alarmingly, 23% of the IT security managers surveyed say their company doesn’t have protocols in place to report a suspected cyberattack and 33% don’t have a formal cybersecurity incident response plan. Read the in-depth report for further insight regarding sensitive data, cyberattacks, and how your industry is keeping up with data security needs.
GetApp is the recommendation engine SMBs need to make the right software choice. GetApp enables SMBs to achieve their mission by delivering the tailored, data-driven recommendations and insights needed to make informed software purchasing decisions. GetApp is a Gartner company. For more information, visit www.getapp.com.
GetApp’s 2021 Data Security Survey was conducted from August 20 to August 24 among 973 respondents to learn more about data security at U.S. businesses. Respondents were screened for full-time employment and 90 identified as their organization’s IT security manager.