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Attacks/Breaches

3 MIN READ

Products & Releases



NETWRIX ANNUAL SECURITY SURVEY: 68% OF ORGANIZATIONS EXPERIENCED A CYBERATTACK
WITHIN THE LAST 12 MONTHS

The most common consequences were unplanned expenses, loss of competitive edge,
and decreased sales.
April 18, 2023
PDF


FRISCO, Texas, April 18, 2023 – Netwrix, a cybersecurity vendor that makes data
security easy, today announced the release of its annual global 2023 Hybrid
Security Trends Report. It reveals that 68% of organizations experienced a known
cyberattack within the last 12 months. Nearly 1 in 6 (16%) of those
organizations estimated the financial damage to be at least $50,000. What’s
more, 40% of the breached organizations incurred unplanned expenses and 10%
suffered other serious consequences, such as loss of competitive edge, decreased
sales or customer churn.



To mitigate the risk of financial loss from data breach, organizations often opt
to purchase cyber insurance. Indeed, the study found that 44% of organizations
are insured and 15% plan to purchase a policy within the next 12 months. Nearly
1 in 4 (22%) of the organizations with a policy had to improve their security
posture to even be eligible for the policy. 

“While cyber insurance has value, it’s vital to remember that it is no
substitute for a strong security posture. After all, while an insurance payout
can defray the financial impact of a security incident, no policy can restore an
organization’s data, operations or reputation,” says Dirk Schrader, VP of
Security Research at Netwrix.

The survey also reveals that on-premises infrastructures suffer more
cyberattacks than the cloud. The starkest difference was for ransomware and
other malware attacks, which were reported by nearly twice as many respondents
for on-premises environments (37%) as for the cloud (19%). 



“On-prem environments are more vulnerable to attacks than software-as-a-service
(SaaS) systems because they often have sprawling privileges on the
infrastructure level. For example, users might have administrative rights on
their computers and service accounts often have elevated rights. Malicious
actors can abuse these standing privileges to spread malware quickly across
on-premises systems,” says Dmitry Sotnikov, VP of Product Management at Netwrix.



Other survey findings include:

 * 81% of organizations now use at least one cloud environment and more than a
   third (37%) of the remainder plan to adopt cloud technologies within 12
   months.
 * Phishing is the most common attack vector: 73% of respondents suffered this
   type of cyberattack on premises and 58% experienced it in the cloud.
 * Account compromise attacks in the cloud continue to intensify, with 39% of
   respondents reporting it in 2023 compared to 31% in 2022 and just 16% in
   2020.
 * Risk associated with an organization’s own employees was the top data
   security concern, cited by 58% of respondents.
 * The three main IT priorities for 2023 have remained the same since 2019: data
   security, network security and cybersecurity training.

“Understaffing of IT teams is the biggest challenge to ensuring data security,
cited by half of respondents. Therefore, it is crucial to build a security
architecture that reduces the workload for IT and security pros. Automating
routine tasks, choosing mature security products that produce fewer false
positive alerts, and relying on a select group of trusted vendors that have an
extensive portfolio and a unified support team can help mitigate the shortage of
security personnel,” says Dmitry Sotnikov.

About Netwrix 

Netwrix makes data security easy. Since 2006, Netwrix solutions have been
simplifying the lives of security professionals by enabling them to identify and
protect sensitive data to reduce the risk of a breach, and to detect, respond to
and recover from attacks, limiting their impact. More than 13,000 organizations
worldwide rely on Netwrix solutions to strengthen their security and compliance
posture across all three primary attack vectors: data, identity, and
infrastructure.  

For more information, visit www.netwrix.com. 


Keep up with the latest cybersecurity threats, newly-discovered vulnerabilities,
data breach information, and emerging trends. Delivered daily or weekly right to
your email inbox.
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