The Identity Theft Resource Center (ITRC) is a nationally recognized nonprofit organization “established to support victims of identity crime.” The recently released Data Breach Annual Report provides statistics and perspectives on cyberattacks. Here’s what organizations need to know:
How Organizations Can Act Now
Considering that the ITRC reports suggest that ransomware “will continue to outpace other types of cyberattack,” it’s crucial for IT teams and organizations of all sizes to examine the situation–before it’s too late.
Eva Velasquez, ITRC president and CEO, had a realistic take on what this report might mean to organizations. She explained, “Many of the cyberattacks committed were highly sophisticated and complex, requiring aggressive defenses to prevent them.”
Velasquez’s point emphasizes the fact that individuals will not defend themselves. To safeguard from sophisticated and rapid attacks, the responsibility lies with organizations to protect their users’ information and take responsibility for informing them where they’ve been compromised.
Depending on the size of your organization and budget, a robust defensive strategy can look different from company to company. However, some approaches are more efficient than others. For example, findings show that most breaches and ransomware are frequently linked to compromised credentials. Even a single vulnerable email and password combination can be the entry point to an entire network–so this is the main issue that businesses should address immediately.
Velasquez explained, “there is no reason to believe the level of data compromises will suddenly decline in 2022.” But there is hope if organizations can act sooner rather than later.