With data breaches causing an average loss of $4.2 million, financial services firms are laser-focused on cloud vulnerabilities, attacks against internet-of-things devices and other prevalent threats, according to new research.
Large businesses experienced significant damage from breaches in the first quarter of the year, including data losses and system outages, which in turn spurred investment in centralized security strategies and improved coordination with external partners.
The early phases of the COVID-19 pandemic had a positive impact on the cybersecurity profession, raising the profile of chief information security officers and others within their organizations, and giving them a new sense that their work and expertise were appreciated.
Remote work, an increase in cloud networking attacks and the complexity of IT infrastructure all heighten agencies’ vulnerability, according to new research. In response, many agencies increased IT budgets last year and will do so again this year.