The Growing Threat: Enterprises Experience More Malware Attacks Than Smaller Organizations, According to Netwrix Report

Netwrix Report Reveals High Cyberattack Rates in the Enterprise Sector

A recent report from cybersecurity vendor Netwrix revealed that 65% of organizations in the enterprise sector, defined as companies with more than 1,000 employees, suffered a cyberattack within the last 12 months. The report, titled 2023 Hybrid Security Trends Report, surveyed over a thousand organizations worldwide and found that larger organizations are more frequently targeted by ransomware or other malware attacks compared to companies of smaller sizes.

Most Common Security Incidents: Phishing, Ransomware, and User Account Compromise

The survey also found that the most common security incidents across all organizations, regardless of size, are phishing, ransomware, and user account compromise. Malware attacks, on the other hand, are less common in the cloud, with only 21% of respondents in the enterprise sector reporting one within the last 12 months.

Higher Financial Damage from Cyberattacks in the Enterprise Sector

According to the report, the enterprise sector also reports spending more money as a result of cyberattacks than their smaller counterparts. The financial damage from cyberthreats is estimated to be $50,000 and higher in 28% of enterprises, compared to just 16% among organizations overall.

Expert Commentary: All Organizations are at Risk

Dirk Schrader, the VP of Security Research at Netwrix, emphasized that smaller companies often underestimate their risk of cyberattacks. Schrader highlighted that “every organization has valuable data, such as customer and employee information, and is, therefore, a target for attackers. What’s more, SMBs are not only a target on their own but as a way into the larger enterprises that consume their services.”

Similarly, Dmitry Sotnikov, the VP of Product Management at Netwrix, suggested that ransomware operators want to maximize their profits, so they consider which organizations are most capable of paying a ransom to reduce business downtime. Therefore, “the larger an organization is, the costlier an operational disruption will be.”

Advice: Prioritizing Cybersecurity in All Organizations

The report highlights the importance of prioritizing cybersecurity in all organizations, as no company is too small to be targeted. The risks of cyberattacks, including financial and reputational damage, are high for all organizations, regardless of size.

To strengthen their security and compliance posture, organizations can follow a few best practices, including:

• Regularly updating software and operating systems
• Implementing multi-factor authentication
• Providing employee training on cybersecurity awareness
• Backing up data regularly and storing it in a secure location
• Enforcing a strong password policy

By taking these basic steps, organizations can better protect themselves against cyberattacks. Additionally, cybersecurity should be addressed as an ongoing process, and organizations must proactively monitor and analyze their security infrastructure to detect and respond to potential threats effectively.

Editorial: Collaboration for Enhanced Cybersecurity

The high rates of cyberattacks on organizations of all sizes highlight the need for collaboration between entities in the public and private sectors. The government has a crucial role to play in supporting organizations through investments in cybersecurity innovation, training, and information sharing. In turn, organizations should prioritize cybersecurity and implement best practices while collaborating with government agencies, sharing information with them to help mitigate the risks of cyberattacks.

In conclusion, the Netwrix report serves as a call to action for all organizations to prioritize cybersecurity. By recognizing the risks presented by cyberattacks, organizations can take proactive measures to protect themselves and ensure their employees’ privacy and confidentiality.