Companies slack on security as ransomware attack decreases

According to a report from privileged access management company Delinea, ransomware attacks are decreasing. Only 25 per cent of organizations suffered a ransomware attack in 2022, a significant decline from 64 per cent in 2021. However, the decline is pushing organizations to reduce their security precautions.

Findings from the report shows that about 56 per cent of organizations with 100 or more employees were hit by ransomware in 2022, down from 70 per cent in 2021. Also, within the same period, 13 per cent of companies with less than 100 staffers were victimized by ransomware, down from 34 per cent.

On how organizations are letting their guard down, 71 per cent of survey respondents claim they have an incident response plan, down from 94 per cent the previous year. 68 per cent said they are devoting money from their budget to defend again ransomware, down from 93 per cent in 2021.

76 per cent of the organizations hit by a ransomware attack boosted their security budget in response, up from 72 per cent in 2021. The increase in security measures taken by compromised organizations and the reduced security measures by organizations in general shows a lot of organizations are waiting to be attacked before taking the required security measures.

To guarantee better security, 53 per cent of organizations said they regularly update their systems and software, 52 per cent back up critical data, 51 per cent enforce password best practices and 50 per cent require multi-factor authentication. Other security measures include application control, disabling macros from email attachments, and adopting a least privilege posture.

The sources for this piece include an article in TechRepublic.

IT World Canada Staff
IT World Canada Staff
The online resource for Canadian Information Technology professionals.

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