Security News > 2020 > May > Verizon finds increases in financially motivated data breaches and attacks on web applications
Most breaches are now for financial gain, according to Verizon's report, with web application attacks also on the rise.
The latest Data Breach Investigations Report from Verizon Business highlighted a number of alarming statistics about the data breach landscape and the actors behind attacks, finding two-fold increases in web application breaches as well as growth in the number of data breaches conducted for financial gain.
Nearly 90% of data breaches are now done for financial gain, up from 71% in last year's report.
Cloud platforms are particularly at risk, with web application attacks doubling to 43%. Almost 70% of all breaches are caused by either credential theft, errors, and social attacks.
One positive aspect from the report is that increased patching is having a noticeable effect, with fewer than one in 20 breaches exploiting vulnerabilities.