In a recent survey by Kaseya, IT professionals identified human behavior as the primary cybersecurity challenge, with 89% citing insufficient training and poor user habits as significant issues. The survey found that phishing remains the top threat, impacting 58% of businesses, while only 11% of companies reported paying ransomware demands, likely due to increased investments in backup and recovery technologies. Interestingly, over half of the respondents believe artificial intelligence will enhance their security, despite one-third expressing uncertainty about its impact. The survey also revealed that 61% of organizations have adopted cyber insurance, up from 27% in 2023, reflecting a growing awareness of cyber threats. As IT budgets remain stable, professionals plan to invest in various security measures, including cloud security and security awareness training.
A recent survey conducted by Extreme Networks, which polled 200 CIOs and senior IT leaders, reveals that network security is the top priority for most respondents. The survey, conducted in July and August 2024, found that 34% of CIOs ranked securing their network as their number one priority, while 22% emphasized the importance of integrating networking and security. A significant 88% of those surveyed desire a single integrated platform for networking, AI, and security, reflecting a growing trend towards platformisation. While many organizations are focusing on AI implementation, challenges such as network bandwidth and security concerns remain prevalent. Additionally, 88% of respondents acknowledged that the IT department has a responsibility to recommend technologies that reduce the company’s carbon footprint, highlighting the increasing importance of sustainable IT practices.
Datadog has released its State of Cloud Security 2024 report, revealing that 46% of organizations are still using unmanaged users with long-lived credentials, which pose significant security risks across all major cloud providers. Long-lived credentials, which do not expire, are frequently leaked in various sources, making them a leading cause of cloud security breaches. The report highlights that many of these credentials are old and unused, with 62% of Google Cloud service accounts, 60% of AWS IAM users, and 46% of Microsoft Entra ID applications holding access keys older than a year. Additionally, the report notes a rise in the adoption of cloud guardrails, with 79% of S3 buckets now protected by access blocks, up from 73% last year. However, it also warns that over 18% of AWS EC2 instances and 33% of Google Cloud VMs have sensitive permissions that could be exploited by attackers.
A recent report from Sophos reveals that 96% of small and medium-sized businesses, or SMBs, struggle with critical cybersecurity skills, making it their second biggest security risk. The survey, which gathered responses from 5,000 IT and cybersecurity professionals across 14 countries, highlights that smaller teams often lack the resources for adequate security education. Alarmingly, one-third of SMBs report that no one actively monitors or responds to security alerts.
A recent report from WatchGuard Technologies highlights concerning trends in cybersecurity, revealing that seven of the top ten malware threats observed in the second quarter of 2024 were new, indicating a shift in tactics among threat actors. Key findings include a significant rise in evasive malware detections, which surged by 168% quarter-over-quarter, despite an overall 24% decrease in malware detections due to a drop in signature-based threats.
Why do we care?
Across these reports, several key takeaways emerge: the importance of human-centric security measures, the growing demand for integrated platforms, and the increasing sophistication of threats.
Only 11% of businesses reported paying ransomware demands, likely due to the adoption of more robust backup solutions. Perhaps prevention and recovery technologies are making headway in reducing ransomware’s effectiveness. That jump in cyber insurance certainly implies recognition of the problem, and MSPs must ensure their clients meet the rigorous security standards set by insurers.
The rise in cyber insurance and platform integration trends suggests that holistic, scalable solutions will be the next frontier for those looking to expand in a competitive IT services market. The Extreme Networks survey shows a clear demand (88%) for a single, integrated platform covering networking, AI, and security. One ring to rule them all.