Businesses plan to invest more money in cybersecurity, but it remains unclear whether extra investments will prepare them to face advanced attacks targeting the supply chain and crossing hybrid infrastructure – two trends top of mind among security leaders, a new report states.
To learn more about security teams' most pressing obstacles and spending priorities, Splunk teamed up with Enterprise Strategy Group to survey 535 security leaders. Most (88%) leaders report security spending will increase at their organization; 35% say there will be a "significant" boost. The research, conducted a year after COVID-19 lockdowns began and two months after the SolarWinds supply chain attack disclosure, reveals the response to a rise in cybercrime.
More than half (53%) of respondents said attacks increased during the pandemic and 84% have experienced a significant security incident in the past two years. The most common type of attack is email compromise (42%), followed by data breach (39%), mobile malware (37%), DDoS attack (36%), phishing (33%), ransomware (31%), and regulatory compliance violation (28%).
More than 40% said the primary cost of security incidents was the IT time and personnel needed to remediate them. Other costs included lost productivity (36%), disruptions to applications and systems (35%), disruption to business processes (32%), breach of confidential data (28%), public breach disclosure (19%), and employees terminated or prosecuted (18%).
Security leaders' job is tougher than it was two years ago, 49% of respondents said. The top challenges they cited include a more complex threat landscape (48%), moving workloads to the cloud and difficulty monitoring the larger attack surface (32%), and workforce hiring (28%).
Cloud is an area of growth and trouble for IT security teams, the ..
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