Secure Your Systems or Pay Ransom!
Cyberattacks continue to pose a significant threat to businesses around the world. Hackers constantly find ways to infiltrate corporate systems' data networks, leaving companies vulnerable to data loss, disruption, and financial losses.
A new study by Rubrik, a company specializing in Zero Trust Data Security™, reveals that 96% of global IT and security leaders are worried about their organization's ability to maintain business continuity after a cyberattack. The study, titled "The State of Data Security by Rubrik Zero Labs: The Hard Truths of Data Security," provides insights into the data security landscape, challenges faced by IT and security leaders in 2022, and the measures being taken to establish genuine cyber resilience.
Rubrik Zero Labs conducted a global study with Wakefield Research to gather insights from over 1,600 IT and security leaders in 10 countries, including CIOs and CISOs. Rubrik telemetry was also used.
The report highlights important findings around the increasing amount of data that needs to be secured and how companies can ensure its security amid growing complexity.
Rubrik's internal data shows that in 2022, the amount of data being secured grew by an average of 25% (on-premises grew by 19%, cloud grew by 61%, and SaaS data secured grew by 236%). More than half of all organizations (56%) currently have at least one zero trust initiative in place. However, only 56% of IT and security leaders created or reviewed an incident response plan in 2022 and 54% tested backup and recovery options.
Most external organizations (99%) have backup and recovery technology, but the majority (93%) face significant issues. Almost all (9 out of 10) external organizations have experienced attempts by malicious actors to impact their data backups during a cyber attack, and most (73%) of these attempts were at least partially successful.
It has been reported that a large number (72%) of organizations have paid ransomware demands, while only a small percentage (16%) have managed to retrieve all their data using attacker decryption tools.
Additionally, almost half (47%) of IT and security leaders feel that their cybersecurity budget for 2023 needs to be increased, and 27% anticipate a decrease in their budget for this year. To improve the alignment between IT and security, only 4% of leaders believe that no limiting factors require attention this year.
“It’s clear organizations understand the gravity and impact of cyber incidents, but we also see a range of roadblocks from a lack of preparation, misalignment between IT and security teams, and over-reliance on insufficient backup and recovery solutions,” said Steven Stone, head of Rubrik Zero Labs. “In the current era of cybersecurity, the best outcome is ensuring cyber resilience. Incidents are inevitable, so it’s critical to reduce the risk before a response is needed, and—at all costs—protect the crown jewel: the data.”
