Security News > 2023 > July > The race against time in ransomware attacks

Most organizations lack strong cyber resilience strategies or data security capabilities to address threats and maintain business continuity, according to BigID. Despite both the rise in threats and the high percentage of respondents whose organizations suffered recent attacks, there hasn't been a corresponding uptick in strategic measures to shore up cyber resilience.

Organizations need cyber resilience and data security capabilities in place, too-to recover data and restore business operations and to do so fast.

When 95% can't recover data and business processes within 24 hours, not only are organizations vulnerable, but they're more willing to make choices that may incentivize future industry attacks.

With cybercrime predicted to cost the world $8 trillion annually, more companies are trying to secure financial protection against losses from cyberattacks, data breaches, and other cyber-related incidents.

"It's not a surprise that over half of organizations still struggle with securing data in the cloud. The reality is most organization's data is scattered across different environments and varies by type," said Tyler Young, CISO of BigID. "Companies cannot afford to be offline and unable to maintain operations, especially for more than a day. However, the stark reality is that many organizations are vulnerable to leverage from cyber criminals because they are incapable of rapidly recovering their data and business processes when necessary," said Brian Spanswick, CISO and head of IT, Cohesity.

Given this reality, a comprehensive approach to data security and management is the best offense against continuing worldwide threats.

News URL

https://www.helpnetsecurity.com/2023/07/31/ransomware-business-data-risk/