Security News > 2022 > July > Only 25% of organizations consider their biggest threat to be from inside the business

A worrying 73.48% of organizations feel they have wasted the majority of their cybersecurity budget on failing to remediate threats, despite having an over-abundance of security tools at their disposal, according to Gurucul.

Only 25% of organizations consider their biggest threat to be from inside the business, despite insider threats increasing by 47% over the past two years.

With only a quarter of businesses seeing their biggest threat emanating from inside their organization, it seems over 70% saw the biggest cybersecurity challenges emanating from external threats such as ransomware.

Although external threats account for many security incidents, we must never forget to look beyond those external malicious and bad actors to insider threats to effectively secure corporate data and IP. The survey also found 33% of respondents said they are able to detect threats within hours, while 27.07% even claimed they can detect threats in real-time.

According to the study, 33.15% have spent hundreds of thousands of dollars trying to remediate threats and 15.47% said millions of dollars, demonstrating the extent to which organizations are willing to go to protect themselves against malicious actors.

Nayyar continues, "Despite organizations admitting to this, 28.7% are aware that speed is the key to remediating threats. The faster an organization can identify and address new, emerging and unknown threats, the better protected it will be. This goes hand in hand with automation, which would allow organizations to foster 24/7 incident response, even over holiday periods or staff shortages, cultivating a much more robust cybersecurity culture."

News URL

https://www.helpnetsecurity.com/2022/07/28/biggest-threat-inside-the-business/