New Research Shows Businesses Unprepared as Cyber Attacks Increase


New Research Shows Businesses Unprepared as Cyber Attacks Increase

By Stefania Viscusi

The threat of cyber security incidents is something people and businesses across the globe have grappled with. Despite best efforts to create more secure operations and networks, bad actors are still making their way in and conducting breaches that lead to several thousands in losses and worse.

The threat of ransomware attacks, identity theft and other breaches have no signs of slowing. In fact,  according to Curt Aubley, Deloitte Risk & Financial Advisory detect and respond practice leader and managing director, Deloitte & Touche LLP, "Over the past 12-18 months, executives across industries and sectors have witnessed — and increasingly experienced first-hand — the jaw-dropping frequency, sophistication, cost, and both economic and operational impacts of ransomware attacks.”

What’s more, a recent poll conducted by Deloitte also found that 86.7 percent of C-suite and other executives expect the number of cyberattacks targeting their organizations to increase over the next year.

The level of these attacks are also becoming sophisticated and this further increases the damage that can be done.

The problem, as Aubley notes, is that, “some ransomware can evade antivirus tools and attackers find more ways to pressure victims to pay ransoms, these attacks often have national and global repercussions. There's no time to waste when it comes to honing and testing incident response programs for ransomware and other cyber events."

The poll also found that while 64.8 percent of execs say that ransomware is a cyber threat posing major concern to their organizations, only 33.3 percent think organizations have taken the proper preventative steps like simulating ransomware attacks to help prepare an incident.

Preparedness is key when it comes to cybersecurity for organizations today. Especially with this startling reality that we’ll see even more happening in the next year alone.

Business leaders are being advised to focus on attack response now with a cyber program that includes ransomware detection and prevention.

 "Strong executive and board level oversight of and support for the cyber risk management program is a critical part of event preparedness. Leaders at the highest levels need to understand the crucial role they play in prevention — by providing oversight, governance and tone from the top — as well as direct support for attack response," said Kieran Norton, Deloitte Risk & Financial Advisory's infrastructure security solution leader and principal, Deloitte & Touche LLP.

Edited by Luke Bellos
Related Articles

Migration Discover Solution By BitTitan Enables Migration Assessments for Microsoft 365

By: Tracey E. Schelmetic    10/18/2021

Bellevue, Washington-based BitTitan recently announced the launch of its comprehensive Migration Discovery Solution. The company, which provides produ…

Read More

IBM and Deloitte Intro Managed AI Solution DAPPER

By: Stefania Viscusi    10/14/2021

Over the last 21 years, IBM and Deloitte have worked together to advance cloud and AI across the business landscape. Today, as organizations adopt hyb…

Read More

Ntiva Expands US Presence with Navakai Acquisition

By: Luke Bellos    10/14/2021

Ntiva has announced the acquisition of one of Colorado's most respected managed services providers, Navakai.

Read More

Scantron Technology Solutions and Arctic Wolf Launch Strategic Partnership

By: Luke Bellos    10/14/2021

Scantron Technology Solutions has joined forces with Arctic Wolf to offer customers cybersecurity solutions against rising threats in the digital worl…

Read More

BlackBerry Updates Guard Solution with New Security Features

By: Luke Bellos    10/14/2021

In order to help protect businesses from the rising levels of network threats, BlackBerry Guard has been enhanced with new security features to pinpoi…

Read More