Security News > 2021 > April > Middle market companies facing a record number of data breaches

The results revealed that 28% of middle market leaders claimed that their company experienced data breaches in the last year, a sharp rise from 18% in last year's survey and the highest level since 2015.

According to the survey, 33% of middle market executives said they experienced a ransomware attack or demand in 2020, the highest number since ransomware became a focus of the data four years ago, and a 10% increase from last year.

"The middle market is still under immense pressure from hackers and that is not likely to change any time soon, but the tide may be slightly turning, as executives make adjustments to staffing, controls and security policies, and begin to see the benefits of those investments. Middle market leaders generally understand that they are not too small for criminals to ignore, and that keeping pace with security and privacy advancements can go a long way to discouraging and deflecting breach attempts."

Companies are showing some indications that they may be moving toward better controlling risks in the future or at least lessening their impact, with 90% of middle market leaders taking specific actions due to publicized data security breaches.

A consistent number of middle market executives are also using the cloud to increase data security.

With data privacy becoming more of a focus in the U.S., many middle market companies understand they will likely need to adhere to new laws in the near future, with 92% indicating their organizations will likely have to comply with privacy legislation similar to the GDPR at a state or federal level during the next two years, a 9% increase.

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