Find out which cybersecurity threats organizations fear the most

This article compiles excerpts from various reports, presenting statistics and insights on cybersecurity threats faced by businesses and individuals alike.

Cyber insurance isn’t the answer for ransom payments

Veeam | 2024 Ransomware Trends Report | June 2024

• Ransomware remains an ongoing threat for organizations and is the largest single cause of IT outages and downtime as 41% of data is compromised during a cyberattack.
• Alarmingly, 63% of organizations are at risk of reintroducing infections while recovering from ransomware attacks or significant IT disasters.

78% of SMBs fear cyberattacks could shut down their business

ConnectWise | The State of SMB Cybersecurity in 2024 | June 2024

• The growing wave of cyber incidents is eroding SMBs’ confidence in their ability to protect their businesses with a staggering 78% concerned that a severe cyberattack could drive them out of operation.
• 56% of SMBs have already faced at least one cyberattack this year, and 89% fear they will be targeted within the next six months.

Lack of skills and budget slow zero-trust implementation

Entrust | 2024 State of Zero Trust & Encryption Study | May 2024

• While 62% of organizations have begun their own zero trust journey, only 48% of US organizations have, raising a concern that Western entities know they have a problem but are unable to adopt zero trust, leaving them vulnerable to cyber threats.
• 46% of respondents cited hackers exposing sensitive or confidential data as their top security concern, followed by system or process malfunctions and unmanaged certificates.

Human error still perceived as the Achilles’ heel of cybersecurity

Proofpoint | 2024 Voice of the CISO | May 2024

• In 2024, 70% of CISOs surveyed feel at risk of experiencing a material cyber attack in the next 12 months, compared to 68% in 2023 and 48% in 2022.
• 54% of CISOs surveyed believe that generative AI poses a security risk to their organization.

Machine identities lack essential security controls, pose major threat

CyberArk | 2024 Identity Security Threat Landscape Report | May 2024

• 93% of respondents expect AI-powered tools to create cyber risk for their organization in the coming year.

Consumers continue to overestimate their ability to spot deepfakes

Jumio | Jumio 2024 Online Identity Study | May 2024

• Nearly 72% of respondents worry on a day-to-day basis about being fooled by a deepfake into handing over sensitive information or money.
• Regardless of whether they’ve been a victim of fraud or identity theft, most consumers worry daily about falling victim to data breaches (79%) and account takeover attacks (77%).

Cloud security incidents make organizations turn to AI-powered prevention

Check Point | 2024 Cloud Security Report | May 2024

• 91% of respondents are alarmed by the surge in more sophisticated cyber threats, including unknown risks and zero-day attacks, which cannot be detected using conventional security tools.
• An overwhelming 96% of respondents reported concerns about their ability to effectively manage cloud risks, reflecting a considerable escalation from previous years.

AI’s rapid growth puts pressure on CISOs to adapt to new security risks

Trellix | Mind of the CISO: Decoding the GenAI Impact | May 2024

• 97% of respondents are concerned about the shifting regulations over the use of AI, with one of the primary areas of concern being the use of AI to embolden nation-states to plant advanced persistent threats (APTs) within their infrastructure.

Only 45% of organizations use MFA to protect against fraud

Ping Identity | Fighting The Next Major Digital Threat: AI and Identity Fraud Protection Take Priority | May 2024

• 97% of organizations are experiencing challenges with identity verification, and 52% are very concerned about credential compromise, followed by account takeover (50%).
• 54% of respondents are very concerned that AI technology will increase identity fraud, and only 52% expressed high confidence in their ability to detect a deepfake of their CEO.

People doubt their own ability to spot AI-generated deepfakes

McAfee | McAfee Study | April 2024

• 66% of people are more concerned about deepfakes than they were a year ago.
• 72% of American social media users find it challenging to spot artificial intelligence-generated content such as fake news and scams.

Human risk factors remain outside of cybersecurity pros’ control

Mimecast | 2024 State of Email and Collaboration Security Report | March 2024

• 8 out of 10 respondents are concerned about new threats posed by AI and 67% say AI-driven attacks will soon become the norm.
• 70% expect collaboration tools to pose new threats, and 69% believe it is likely that their company will be harmed by a collaboration tool-based attack.

AI tools put companies at risk of data exfiltration

Code42 | Data Exposure Report 2024 | March 2024

• 89% of respondents agree that their company’s sensitive data is increasingly vulnerable to new AI technologies.
• 87% are concerned their employees may inadvertently expose sensitive data to competitors by inputting it into GenAI.