IT Risks Seem to Be Outpacing Organizations’ Risk Management Capabilities
The coronavirus pandemic has created new risks and amplified existing risks
- The shift from working in offices to working from home elevates security risk. New technology risks come from the use of personal devices, new unsecure networks, and new apps that support remote collaboration. For instance, while Zoom has been in business since 2013, its popularity skyrocketed during the coronavirus pandemic of 2020. In March 2020, Zoom was seeing 200 million daily meeting participants; in April it was 300 million. This compares to 10 million in December 2019.
- Cyber attackers in 2020 refined their methods to take advantage of the COVID-19 pandemic and the adoption of new technologies used for remote work. In fact, online crimes reported to the FBI’s Internet Crime Complaint Center (IC3) have nearly quadrupled since the beginning of the COVID-19 pandemic.
- By end of 2020, a failure to figure out how to support remote work without exposing sensitive information led to nearly 25% of organizations paying unexpected costs to address cybersecurity breaches and malware infections.
- Recession pressures,…
