Global cybersecurity threats are increasing in volume and severity, with malware, ransomware and phishing all on the rise.
For instance, the number of companies experiencing ransomware attacks surged by over 27% in the past year, according to the 2024 Thales Data Threat Report.
Despite this escalating threat, less than half of organisations have a formal ransomware plan in place, with 8% resorting to paying the ransom demands
The research – which surveys nearly 3000 IT and security professionals in 18 countries across 37 industries, found that malware stands out as the fastest-growing threat of 2024 with 41% of enterprises experiencing an attack of this kind.
Cloud assets, including SaaS applications, cloud-based storage, and cloud infrastructure management, were the primary targets for such attacks.
What does it mean for risk managers?
The report showed that for a second year running, human error remains the leading cause of data breaches, with 31% of enterprises pinpointing this as the root cause.
However, there is evidence that poor compliance is also a key cause of breaches.
The research found that over two-fifths (43%) of enterprises failed a compliance audit in the past twelve…
