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Cyber attacks are increasingly crippling organisations, with new research showing that one in five organisations that suffer a cyber incident is unable to recover its stolen, encrypted or lost data.
According to a report conducted by NetApp in tandem with Futurum Research that surveyed over 1,300 cyber security leaders, 54 per cent of organisations suffered a cyber attack in the last 12 to 18 months, with one-fifth unable to bounce back and recover data.
“The findings clearly highlight the urgency for organisations to rethink their cyber security strategies in an era of escalating threats,” said Gagan Gulati, general manager for data services at NetApp.
“To reduce risks and ensure faster recovery, businesses must adopt an intelligent data strategy that prioritises secure-by-design infrastructures, embedding security at the core of their data management approach.
“With data as a company’s most valuable asset, resilient storage solutions – such as those offered by NetApp – serve as the last line of defence in a comprehensive security strategy, safeguarding critical information and enabling long-term success in hybrid multi-cloud environments.”
When it came to not being able to recover, 60 per cent of organisations found identifying the data was their biggest issue. Additionally, of those unable to recover data, only 20 per cent had data classification, while 52 per cent of those who were able to recover had data classification.
Operational complexity also proved to be a contributing factor towards data breaches. Seventy per cent of organisations said they were using over 40 cyber security tools, while 84 per cent said the wealth of tools was a problem, increasing complexity and thus creating gaps and vulnerabilities.
Particularly in cloud environments, vulnerabilities and flaws are a major risk. For 38 to 40 per cent of respondents, cloud environment security risks were the top threat, beating out traditional attack vectors like ransomware.
AI is also introducing new cyber security challenges. While 92 per cent of respondents said they are increasing AI projects over the next 12 to 18 months, one in four said it had “limited/partial visibility” into access permissions for sensitive data.
“The biggest problem we have is the growth in sophisticated threats and attacks. And by this, I mean we’re starting to see a shift in the world from old-style cyber security threats, which would be exploiting existing vulnerabilities, social attacks, things like that,” said one respondent.
“We’re starting to see this very worrying trend shifting to AI, where AI models, very extensive machine learning paradigms, are being used to leverage not just software weaknesses, social engineering weaknesses or straight out spam-based threats, but we’re starting to see [AI widening] the gap to the point where I’ve actually had our CISO, who’s very versed in cyber security, reach out to me on a couple of cases so far in just the last couple of weeks to show me some of the attempts that that he’s seeing at a broader level.”
Addressing these concerns, almost all (over 90 per cent) of respondents indicated they would be increasing their cyber security spend over the next 12 to 18 months.
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