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Last year, 27% more businesses fell victim to ransomware attacks, and 8% paid the ransom.
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Last year, 43% of businesses failed compliance audits, and those businesses were 10 times more likely to suffer a data breach.
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Human error found to be the biggest cause of data breaches for second year in a row
Meudon, France, March 20, 2024–(Business Wire)–Thales Today, we announced the release of 2024 Thales Data Threat Reportproduces an annual report on the latest data security threats, trends, and emerging topics based on a survey of approximately 3,000 IT and security professionals across 37 industries and 18 countries. According to this year’s report, 93% of IT professionals believe the amount or severity of security threats is increasing, up from 47% last year.
The volume and severity of threats continues to increase
The number of businesses experiencing ransomware attacks has surged by more than 27% over the past year. Despite this growing threat, fewer than half of organizations have a formal ransomware plan, and 8% rely on paying ransom demands.
Malware stands out as the fastest growing threat in 2024, with 41% of businesses witnessing a malware attack in the past year, followed closely by phishing and ransomware. Cloud assets such as SaaS applications, cloud-based storage, and cloud infrastructure management remain prime targets for such attacks.
The report shows that human error is the leading cause of data breaches for the second year in a row, with 31% of companies identifying this as the root cause.
These insights come from the 2024 Thales Data Threat Report conducted by 451 Research. This report reveals how companies are adapting their data security strategies and practices in response to the evolving threat landscape.
Compliance is key to data security
The study found that two-fifths (43%) of businesses had failed a compliance audit in the past 12 months, and the report highlights a very clear correlation between compliance and data security. .
Of the companies that failed a compliance audit in the past 12 months, 31% experienced a violation in the same year. This compares to just 3% of companies that pass a compliance audit.
Operational complexity continues to cause data problems
The changing regulatory and threat landscape continues to lag a fundamental understanding of which systems, applications, and data are at risk. Only a third (33%) of organizations are able to fully classify all their data, and an alarming 16% say they have little or no classification of their data.
Operational complexity remains a barrier. Although the number of respondents reporting having five or more major management systems has decreased (53% compared to 62% last year), the average number has decreased slightly (from 5.6 to 5.4).
Multi-cloud realities across services and changes in global data privacy regulations mean data sovereignty is a top priority for enterprises, with 28% citing external keys as a primary way to achieve sovereignty. It calls for mandatory management. 39% said data residency is no longer an issue if external encryption, key management, and separation of duties are implemented.
“Businesses need to know exactly what they are trying to protect. As global data privacy regulations continue to change, organizations need visibility across their organization to maintain any chance of remaining compliant. need to be increased.” Sebastian Cano, Senior Vice President, Cloud Protection and Licensing, Thales:.
“If there’s one takeaway from this year’s research, it’s that compliance is key. In fact, companies that manage their compliance processes well and pass all audits are more likely to suffer a breach. What we’re going to start to see is that compliance and security functions will become more aligned, which is very positive in strengthening cyber defenses and building trust with customers. It will be a great step forward.” he added.
Emerging technologies pose both threats and opportunities
Looking ahead, the report also explores which emerging technologies IT and security professionals are prioritizing, with 57% citing artificial intelligence (AI) as a source of major concern. This was closely followed by IoT (55%) and post-quantum cryptography (45%).
That said, businesses are also eyeing the opportunities emerging technologies present, with more than a fifth (22%) planning to integrate Generative AI into their security products and services in the next 12 months. and a third (33%) are planning experiments. Integrating technology.
To learn more, join us on April 16, 2024 for an S&P Global webinar hosted by Chief Analyst Eric Hanselman and Research Analyst Justin Lam..
About the 2024 Thales Global Data Threat Report
The 2024 Data Threat Report (DTR) analyzes how core security practices have changed in response to or in anticipation of changing threats. This report also provides perspective on what organizations can do to leverage their data assets to increase business agility and expand opportunities to build trust with customers. The study is based on his global survey of 2,961 respondents through a web survey of security and IT management professionals in each country’s target population. In addition to criteria regarding level of knowledge on the survey’s general subject matter, the survey’s screening criteria included answering that Australians are affiliated with an organization with annual revenues of less than US$100 million and between US$100 million and US$250 million. Respondents who did so were excluded. Brazil, Canada, France, Germany, Hong Kong, India, Italy, Japan, Mexico, Netherlands, New Zealand, South Korea, Singapore, Sweden, United Arab Emirates, United Kingdom, and United States.
About Thales
Thales (Euronext Paris: HO) is a global leader in advanced technologies in three areas: defense and security, aerospace and digital identity and security. We develop products and solutions that help make the world safer, greener and more inclusive.
The Group invests nearly €4 billion a year in research and development in key areas such as quantum technology, edge computing, 6G and cybersecurity, among others.
Thales has 81,000 people* We have employees in 68 countries. In 2023, the Group’s turnover amounted to 18.4 billion euros.
*This figure does not include the land transportation business, which is currently being sold.
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