Cybercrime is on the rise. The number of data breaches in 2017 was staggering and things are likely to get worse. More than 5 million data records are lost or stolen every day, according to the Breach Level Index. Cybercrime is predicted to cost the world $6 trillion annually by 2021, up from $3 trillion in 2015, according to Cybersecurity Ventures.
Although the threat landscape is vast and varied, the major threats that face most companies remain the same. Verizon’s 2017 Data Breach Investigations Report states that 88% of breaches last year fell into the same nine patterns it identified back in 2014. Every organization understands the importance of investing in cybersecurity defenses now, but few are taking the time to really assess where that money would be best spent.
Evaluate where the greatest risks lie, assess what can be done about them and you can squeeze more value out of your cybersecurity budget. Let’s examine three areas where there’s ample opportunity for organizations to tighten defenses.