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Experian 7th Annual Security Breach Study Finds Cybersecurity Threat Concerns Remain

March 5, 2020

Hikvision HikWire blog article Experian 7th Annual Security Breach Study

Hikvision Covers the Human Factor and Security Breach

 

Experian’s seventh annual security breach study finds concerns about cybersecurity threats remain, according to the SecurityInfoWatch.com article, “Report: Executives lack confidence in their ability to combat cyber threats.”

The 2020 study surveyed more than 1,100 professionals from the U.S. and EMEA (Europe, Middle East and Africa). Fifty-seven percent of respondents stated that their security breach response plans were effective, up from 49 percent in last year’s study.

“So far the hackers have been able to stay on the forefront of finding the next attack vector or getting ahead of where corporate security is. Given the fact that hacking is now a borderless crime—it can be launched anywhere—you can go out without any technical expertise onto the Dark Web and buy a kit to execute a denial-of-service attack, a ransomware attack or malware attack. Whether it is nation-states or other criminal actors, they have time on their side and they have anonymity on their side,” said Experian VP of Data Breach Resolution, Michael Bruemmer, in the article.

Other findings included:

  • 63 percent of respondents reported suffering a security breach in 2019.
  • 36 percent of those surveyed reported that their company was a ransomware attack victim the previous year, with the average ransom amount being slightly more than $6,000.
  • 94 percent of organizations surveyed have a breach response plan in place.

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For additional insights on security breach, read this Hikvision blog: “The Human Factor and Security Concerns with Cybersecurity and Security Breach.”

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