The number of cyber attacks on organizations is growing every year around the world. According to data from Cybersecurity Ventures, attacks may increase by 15% by 2025.
Also according to the survey, losses due to attacks are expected to reach $8 trillion by 2023, making cybercrime the third largest economy in the world.
The trends point to a challenging scenario in the area of information security. Thus, organizations need to take action and prevent themselves before a successful cyber attack occurs.
According to a survey conducted by Tanium, 79% of the leaders of UK organizations approve the budget for cyber security only after the attack has occurred.
In Brazil, only 26% of organizations invest in digital security, according to a survey by Cisco.
Thus, we can see the lack of maturity and investment in security on the part of organizations. However, these are not the only challenges that the area faces.
A report produced by Tenable showed a shortage of 26% of professionals specialized in cybersecurity by 2022.
The lack of manpower may contribute to an increase in security vulnerabilities in organizations. In addition, digital transformations also contribute to the challenges faced by companies.
However, there are ways to solve the challenges in this area. In this article we will discuss some of them.
What are the challenges of cybersecurity?
Digital transformations have changed the way of working over the years; today it is possible to perform tasks through a screen on an electronic device.
Along with the transformations, there have also been changes in the behaviors and thoughts of leaders about digital security. However, the Covid-19 pandemic has accelerated this process.
Many organizations have changed their work model to Home Office in order to continue operating.
According to the study conducted by EY, due to the Covid-19 pandemic, there has been a 300% increase in the number of cases involving cyber attacks on organizations across the world, such as the United States, South Africa, Switzerland, India, and Denmark.
After organizations started to be attacked by cyber criminals, leaders should realize the importance that the information security area has within the corporate environment.
According to Rodrigo Jorge, Chief Information Security Officer at VTEX, every organization in the world will need cybersecurity managers within the companies if they want to guarantee the security of their data.
Thus, showing the importance of having an information security team within the organization.
Furthermore, storing and processing data in the cloud can bring risks to data security. Especially in those where the cloud is not yet fully adopted.
CrowdStrike has produced the 2023 Global Threat Report, pointing to a 95% increase in the number of cloud cyber attacks in the year 2022.
If investment in cybersecurity was greater, would the challenges noted not be different?
What are the risks that a lack of investment in the area can cause?
The lack of investment in cybersecurity can diminish the actions that the security team needs to take to protect itself or prevent cyberattack attempts.
The team needs to ensure the security of all areas within the organization. Thus, it needs investment to be able to perform procedures to ensure security in the corporate environment.
Without the investment, the area cannot reinforce all its protective barriers, leaving the organization vulnerable to cyber risks and creating new challenges for the team.
The investment can help in the contracting process of implementing security policies or making people aware of digital security.
In this way, investment in the area becomes critical to the well-being and security of the entire organization.
Why should organizations invest in cybersecurity?
According to research conducted by Statista, the annual cost of cybercrime could increase by up to 40% and reach $11.5 trillion by 2023.
For the organization not to suffer from financial losses, it needs to prevent itself from cyber attacks. Therefore, companies should invest in the area for the prevention and security of data in the corporate environment.
In addition, investment in cybersecurity can help attract and bring together professionals in the area. This way, the market will have a larger number of people specialized in cybersecurity.
Investing in cybersecurity benefits organizations, helps solve the challenges that the field faces, and increases the security of internal data.
How can PhishX help solve the challenges of the field?
When the security team is pointing out vulnerabilities within the organization, it needs to address and strengthen its security. There are possible paths the team can take, such as implementing a people awareness program.
Making people allies in security can be an ideal and effective solution to ensure data security.
In this way, you will need to bring knowledge and information to everyone about the cyber threats that exist in the digital world.
The PhishX ecosystem can help your organization with this challenge, closing criminals' doorways through people who are aware of the pitfalls of the digital universe.
PhishX is an ally to your cybersecurity team
We prioritize people within organizations, believing that they are an ally of your security team. As such, we assist your team in implementing the people awareness process.
The partnership with PhishX provides complete and individual reports, measuring people's maturity about digital security. In addition, we can conduct recurring and customized phishing campaigns and drills.
For the first step, download the material to help you manage your cybersecurity budget effectively.
Then you can solve potential cybersecurity challenges with planning and a good strategy.
