A recent report released by Verizon says that most of the cyber attacks targeting companies can be curtailed if companies and individuals implement computer security patching at the right intervals.
The Verizon Business Annual Data Breach Investigations Report (DBIR) says that most of the data breaches are motivated for financial gain and in the past year, the said attack vector has raised from meager 15% to 86% marking a landmark in the cybersecurity landscape.
Verizon DBIR says that out of the reported 86% of data breaches, most of them were driven by credential thefts and social attacks. Also, the report highlights the fact that cyber incidents due to web applications doubled to 43% which clearly shows how swiftly are the cyber crooks using cloud-based services to launch cyber attacks.
Security report of the technology company states that 69% of attacks on organizations are being carried by outsiders and 34% of them are those involving internal threats.
Espionage is also touted as one of the formidable reasons to launch a cyberattack, and Verizon confirms that such attacks are usually carried out by hackers being funded by state intelligence agencies just to gain political and economic advantage.
While password reuse is found to be a leading culprit that motivates cyber crooks to launch cyber attacks, organizations’ slow reaction to data breaches is also said to be drawing the attention of cybercriminals.
Earning margin from Ransomware and DDoS attacks and lack of awareness among employees against cyber attacks is also said to be motivating criminals in launching more attacks.