Cyber attacks affect all organizations – big and small, private and public. In all scenarios the results can be devastating. But last year, according to Verizon, one group was hit worse than any other – large businesses. Results in its Data Breach Investigations Report show that large businesses were victims in 72% of total breaches studied.
So while organizations across the world were battling economic uncertainty due to the pandemic, large businesses had extra cause for concern – because of the increased risk of cyber attacks targeting corporate entities, many of which were successful.
Although malicious insiders – such as disgruntled ex-employees, or individuals seeking to compromise their employer – pose a threat, external actors caused most breaches in 2020. This, coupled with the fact threat actors are predominantly focused on larger organizations, means it is imperative that security teams within these corporations focus their time and resources on the most effective measures possible to protect these highly-targeted corporate assets.