COVID-19 has brought about a change in cybercriminal activity as work from home and remote working raise the risk but businesses are slow to adapt.
A recent cybersecurity study went to market to get an understanding of how businesses rate their own cybersecurity and compliance risks.
Here are some interesting results from the study:
- 31 percent report their entire business process has changed and is still evolving since COVID-19.
- 26 percent report that they rushed certain projects that were scheduled for later.
- 18 percent report security as being a c-level concern.
- 57 percent report team collaboration platforms such as Microsoft Teams and Slack as the largest risk
- 41 percent report marketing technologies as the largest risk.
- 25 percent report management personal social media as the largest risk to phishing attempts.
- 52 percent report unauthorized apps as a large cybersecurity concern.
- 59 percent report budget and purchasing new technology as a concern.
Cybercriminals are adapting their cyber tactics and targeting people in their homes and office. As working from home becomes a gateway to new forms of data theft, companies face increased cyber risk.
Some key summary points include the following:
- Cybercriminals are creating new cyber tactics and exploiting COVID-19 fears.
- Work-from-Home (WFH) is becoming the best gateway to data theft.
- Old technology and inadequate cybersecurity are slowing down productivity.
- 25 percent report an increase in fraudulent emails, spam, and phishing attempts
- 50 percent of them use the COVID-19 crisis as the mechanism.
- 26 percent report they want copies of valuable company data in case of ransomware.
- 80 percent feel their organization needs to prioritize preventive cybersecurity measures.
Organizations need to take proactive measures in order to be able to ensure that the exchange of data between their offices and those employees working from home is protected. This will avoid home offices becoming a gateway to cybercrime.
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