Cyber-attacks continue to increase at a phenomenal rate. Organizations have never been under such threats – and the future doesn’t look any brighter. Yet, there is arguably a ‘silver lining’ for those that have fallen victim to a successful breach.
The surge in threats is encouraging businesses to take a more proactive approach to defense strengthening. In fact, investment in cybersecurity is at an all-time high, as the UK Government reports a 14% increase in revenue generated by UK cyber firms to £10.1bn as of February 2022. The rate of increase is unsurprising, given that the average cost of a data breach now sits at $4.24m.
There’s no question that all attacks are devastating to the victims, but each breach offers the opportunity for greater resilience and improvement of security strategies. Let’s take ransomware as an example. Unfortunately, not a day goes by without reports of another attack of this nature on businesses across the globe.
According to SonicWall, 2021 witnessed a “sustained, meteoric rise” in breaches, with a recorded 623.3 million ransomware attacks worldwide, which is a 105% increase compared to the previous year. Yet, each tragedy serves as a warning for the rest of us and has contributed to the acceleration in global cybersecurity investment as businesses scramble to prepare for the next assault.