Data breaches could get even more expensive next year, according to a new report from Acronis.
Based on data collected from more than 750,000 individual endpoints distributed around the world, the company’s report claims that the average cost of a data breach is expected to reach $5 million by next year.
To make matters worse, the researchers expect that the number of violations will also increase significantly. Malicious and phishing email threats are up 60% year over year, it said.
New solutions for new attack methods
In addition, social engineering attacks also increased over the last four months of the year and now account for approximately 3% of all attacks. Leaked or stolen passwords and other credentials were the triggers for almost half of all reported cybersecurity incidents in the first half of 2022.
“The past few months have been more complex than ever – with constantly evolving threats and malicious actors continuing to use the same proven playbook for big payouts,” said Candid Wüest, Acronis VP of Cyber Protection Research.
“Enterprises must prioritize all-encompassing solutions as they seek to mitigate phishing and other hacking attempts in the new year. Attackers are constantly evolving their methods and are now using common security tools against us – like MFA, which many organizations rely on to protect their employees and businesses.”
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In the third quarter of the year, the share of phishing attacks versus malware attacks increased 1.3x and now accounts for more than three-quarters (76%) of all email attacks (up from 58% in the first half of the year) . ).
The majority of victims were in the United States, but companies in Germany and Brazil were also heavily targeted. Endpoints in South Korea, Jordan, and China were also the top malware targets.
Digging deeper into the different industries that threaten actors with phishing and malicious emails, the researchers discovered construction, retail, real estate, professional services, and finance as the most commonly targeted industries.
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