Security Market Segment LS
Monday, 26 April 2021 13:42

Mimecast report: 61% of organisations were infected with ransomware in 2020

By

The State of Email Security, an annual report published by Mimecast, discovered 79% suffered financial loss, and identified that ransomware was the chief culprit behind these disruptions.

The State of Email Security, a report published by Mimecast, detailed “how enterprises faced cybersecurity risk in 2020 from increasing attack volume, the pandemic-driven digital transformation of work, and generally deficient cyber preparedness and training.”

The fifth annual report is “based on a global survey of 1,225 information technology and cybersecurity leaders, and supported by Mimecast’s Threat Centre data, which screens more than one billion emails per day.”

Ransomware looms large

79% of respondents indicated their companies had experienced a business disruption, financial loss, or other setback in 2020 “due to a lack of cyber preparedness”. Respondents identified ransomware as the chief culprit behind these disruptions.

Other insights include:

• 61% reported they had been impacted by ransomware in 2020, a 20% increase over the number of companies reporting such disruption
• Companies impacted by ransomware lost an average of six working days to system downtime, with 37% saying downtime lasted one week or more
• More than half (52%) of ransomware victims paid threat actor ransom demands, but only two-thirds (66%) of those were able to recover their data. The remaining one-third (34%) never saw their data again, despite paying the ransom.

Threat actors exploit the pandemic

Ransomware was not the only threat for organisations in 2020. The report also revealed additional threat trends, including:

• A 64% year-over-year increase in threat volume.
• An increase in email usage in eight out of 10 companies.
• 47% of survey respondents noted they saw an increase in email spoofing activity.
• 71% said they are concerned about the risks posed by archived conversations from collaboration tools.

All of these can be attributed to the pandemic: work-from-home increased email and collaboration tool usage, and threat actors sought to capitalise on the new “digital office” with massive waves of COVID-19-related social engineering attacks.

Cyber preparedness is lacking

Despite facing an elevated threat volume, the report “found that companies aren’t doing well in the area of threat prevention.” In addition to the 79% of respondents who indicated a lack of cyber preparedness, other findings include:

• 40% of those surveyed said their organisations fall short in one or more critical areas of email security systems, leaving employees open to phishing, malware, business email compromise, and other attacks.

• 43% said that employee naiveté about cybersecurity is one of their greatest vulnerabilities, and yet only one in five respondents indicated they have ongoing (more than once per month) security awareness training in place.

The study was not surprised that 70% of survey respondents believe their business will be harmed by email attacks in the next year. In 2020, only 59% of respondents said they felt this way.


Subscribe to ITWIRE UPDATE Newsletter here

GRAND OPENING OF THE ITWIRE SHOP

The much awaited iTWire Shop is now open to our readers.

Visit the iTWire Shop, a leading destination for stylish accessories, gear & gadgets, lifestyle products and everyday portable office essentials, drones, zoom lenses for smartphones, software and online training.

PLUS Big Brands include: Apple, Lenovo, LG, Samsung, Sennheiser and many more.

Products available for any country.

We hope you enjoy and find value in the much anticipated iTWire Shop.

ENTER THE SHOP NOW!

INTRODUCING ITWIRE TV

iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.

We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.

In addition, your interview post message can be displayed in up to 7 different post displays on our the iTWire.com site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.

We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.

See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.

SEE WHAT'S ON ITWIRE TV NOW!

BACK TO HOME PAGE
Kenn Anthony Mendoza

Kenn Anthony Mendoza is the newest member of the iTWire team. Kenn is also a contributing writer for South China Morning Post Style, and has written stories on Korean entertainment, Asian and European royalty, Millionaires and Billionaires, and LGBTQIA+ issues. He has been published in Philippine newspapers, magazines, and online sites: Tatler PhilippinesManila BulletinCNN Philippines LifePhilippine StarManila Times, and The Daily Tribune. Kenn now covers all aspects of technology news for iTWire.com.

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments