A recent study made by security management firm Cymulate has confirmed that 65% of companies have suffered cyber attacks for the second time within one year. Disappointingly, 40% of businesses were targeted two times within 12 months, while 10% of them were hit multiple times within a year’s time frame.
According to a report titled Cymulate Data Breaches Study, most of the attacks reached the corporate networks through phishing emails. While 1% of them emerged via insider threats.
Coming to the cyber attack variants, over 55% of the registered attacks were of malware variant, while 40% were related to ransomware and 32% of Ddos.
Interestingly, the survey also found businesses reacting differently when targeted by cyber attacks. As 39% of them managed the consequences internally, with no expert guidance. And 20% of them managed it through clinical expertise.
Creating awareness among employees and training them in defending n avoiding such attacks, keeping the infrastructure updated with the latest hardware and software helps in reducing the success rate of cyber attacks.
Small businesses were found to be incurring more losses from cyber attacks than larger organizations.
Cymulate survey confirmed that about 7% of businesses do not recover from the attack and so about half of them shut down the business as they cannot afford technological upgrades as the mitigation costs steal away all of their profits.
The ransom demand made by criminals (in malware attack cases) is also huge and so most the company heads switched over their business or shut it down on a permanent note.