According to a recent FortiGuard Labs Global Threat Landscape report, ransomware grew 1070% year over year and surveyed 455 business leaders and cybersecurity professionals worldwide to gauge their state of readiness to defend against the growing challenge of ransomware.Organizations cited the evolving threat landscape as one of the top challenges in preventing ransomware attacks. 

The report cited 84% of organizations reported having an incident response plan, and cybersecurity insurance was a part of 57% of those plans. In regards to paying ransom if attacked, the procedure for 49% was to pay the ransom outright, and for another 25%, it depends on how expensive the ransom is.

The survey is designed to better understand the following:

How concerned are security leaders about the threat of ransomware attacks?

How did the pivot to remote work and learning from home affect their cyber security posture?

How confident are they in their existing countermeasures, and what else do they plan to deploy?

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Top risks:

27% of respondents report that a “lack of visibility across the distributed network” is a top five challenge. This is often due to deploying point solutions in different parts of the network that were not designed to interoperate, as well as issues arising from the lack of visibility into the home networks of remote workers.

Preparedness

67% of organizations reporting that they have been a ransomware target (16% say they were attacked three or more times).  84% also report having an incident response plan in place, what comprises that incident response plan is important to unpack.

72% of respondents claim they have a ransom policy in place. Interestingly, the procedure for 49% of them was to pay the ransom outright, and for another 25%, it depends on how expensive the ransom is.

Protection and Defensive Measures

Plans for investing in security technologies map closely to those identified as essential, with no technology being selected by more than half of respondents. However, 91% plan to invest in more employee cyber awareness training, which is an excellent first line of defense.

83% of respondents said that being combined with actionable threat intelligence is a very or extremely important criterion for selecting cybersecurity solutions. Similarly, they identified tools integrated to work together (rather than non-integrated point products) to be nearly as crucial, at 98%. And 94% want solutions embedded with artificial intelligence (AI)-driven behavioral detection capabilities.

The Need for Integration and Intelligence

94% want solutions embedded with artificial intelligence (AI)-driven behavioral detection capabilities.

And 83% of respondents said being combined with actionable threat intelligence is a very or extremely important criterion for selecting cybersecurity solutions. Similarly, they identified tools integrated to work together (rather than non-integrated point products) to be nearly as crucial, at 98%.

While concerns about ransomware were reasonably consistent across the board, respondents in EMEA (95%), Latin America (98%), and APJ (Asia-Pacific/Japan) (98%) were slightly more concerned about ransomware attacks than their peers in North America (92%). But despite these differences, all regions except for APJ perceive the loss of data as the top risk associated with a ransomware attack, along with the worry that they will be unable to keep up with an increasingly sophisticated threat landscape.

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