McAfee released Grand Theft Data II – The Drivers and Shifting State of Data Breaches, which revealed that despite improvements in combating cybercrime and threats, IT security professionals are still struggling to fully secure their organization and protect against breaches with 61 percent claiming to have experienced a data breach at their current employer. Adding to this challenge, data breaches are becoming more serious as cybercriminals continue to target intellectual property putting the reputation of the company brand at risk and increasing financial liability.
McAfee’s study demonstrates the need for a cybersecurity strategy that includes implementing integrated security solutions combined with employee training and an overall culture of security throughout the organization to reduce future breaches.
“Threats have evolved and will continue to become even more sophisticated,” said Candace Worley, vice president and chief technical strategist at McAfee. “Organizations need to augment security measures by implementing a culture of security and emphasizing that all employees are part of an organization’s security posture, not just the IT team. To stay ahead of threats, it is critical companies provide a holistic approach to improving security process by not only utilizing an integrated security solution but also practicing good security hygiene.”
The McAfee report highlights the following:
The stakes are higher as multiple attack methods are now used in a breach as cybercriminals continue to target personal data and intellectual property. Furthermore, IT security teams are increasingly concerned about external threat actors compromising their network, which has forced more organizations to publicly disclose when breaches occur. The severity of publicly disclosing breaches results not only in financial repercussions but damage to brand and reputation as well.