The good news is that in the face of these growing cyber threats, organisations are demonstrating far more success in detecting and blocking them, according to a new study from Accenture.
With ransomware and distributed denial of service (DDoS) attacks on the rise, the average number of focused cyberattacks per organisation has more than doubled this year compared to the previous 12 months (232 through January 2018 versus 106 through January 2017). The good news is that in the face of these growing cyber threats, organisations are demonstrating far more success in detecting and blocking them, according to a new study from Accenture.
Yet, despite making significant progress, only two out of five organisations are currently investing in breakthrough technologies like machine learning, Artificial Intelligence (AI) and automation, indicating there is even more ground to be gained by increasing investment in cyber resilient innovations and solutions. The study was conducted from January to mid-March 2018 and investigated focused attacks defined as having the potential to both penetrate network defenses and cause damage, or extract high-value assets and processes from within organisations.
Despite the increased pressure of ransomware attacks, which more than doubled in frequency last year, the study found organisations are upping their game and now preventing 87% of all focused attacks compared to 70% in 2017. However, with 13% of focused attacks penetrating defenses, organisations are still facing an average of 30 successful security breaches per year which cause damage or result in the loss of high-value assets. “Only one in eight focused cyberattacks are getting through versus one in three last year, indicating that organisations are doing a better job of preventing data from being hacked, stolen or leaked,” said Kelly Bissell, managing director of Accenture Security.
However, while the findings of this study demonstrate that organisations are performing better at mitigating the impact of cyberattacks, they still have more work to do, Bissell explained. “Building investment capacity for wise security investments must be a priority for those organisations who want to close the gap on successful attacks even further. For business leaders who continue to invest in and embrace new technologies, reaching a sustainable level of cyber resilience could become a reality for many organisations in the next two to three years. That’s an encouraging projection,” he said.