Data breaches could be more costly in 2023
Data breaches could be even more costly next year, according to a new report from Acronis.
Based on data collected from more than 750,000 unique endpoints distributed around the world, the company reports that the average cost of a data breach is expected to reach $5 million by next year.
To make matters worse, the researchers expect a significant increase in the number of breaches as well. Threats from malicious and phishing emails were up 60 percent year-over-year, they said.
New solutions for new attacks
Additionally, social engineering attacks also increased in the last four months of the year and now account for approximately 3% of all attacks. Compromised or stolen passwords and other credentials will account for almost half of all reported cybersecurity incidents in the first half of 2022.
Candid Wüest, Vice President of Research for Cyber Protection at Acronis, said: “The past few months have proven to be as complex as ever – new threats continue to emerge and malicious actors continue to use the same proven playbooks to reap big rewards.”
“As organizations seek to reduce phishing and other hacking attacks in the new year, it is imperative that organizations prioritize all-encompassing solutions. Attackers continue to improve their methods and now use common security tools against us — such as those used by many companies MFA that protects your people and your business.”
The proportion of phishing attacks targeting malware increased 1.3 times in the third quarter of this year and now accounts for more than three-quarters (76%) of all email attacks (up from 58% in the first half of the year).
Most of the victims were located in the United States, but companies in Germany and Brazil were also targeted. Endpoints in South Korea, Jordan, and China were also the top malware targets.
Researchers delved into the different industries of phishing and malicious email threat actors and found that construction, retail, real estate, professional services, and finance were the most commonly targeted verticals.