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The staggering numbers come from a new report by Trend Micro and the Ponemon Institute. The greatest risk is in the North American region. The survey also shows that 80% of organizations reported they are likely to experience a data breach.

The global survey results show that the areas of concern for businesses centre around three aspects.

Many organizations said that they are not prepared enough to manage new attacks across board members, executives and employees. Others cited the lack of sufficient processes to meet attacks, ranging from sharing threats and patching flaws.

Rethinking security

Organizations have a strong need to evaluate what security measures they have in place. The aim is to ensure that they are using the latest advanced detection technologies across networks.

Examining the current threat landscape and using CRI findings will help global businesses reduce risk significantly through implementing better security. It is important to protect critical data by focusing on risk management and the threats targeting data.

Organizations should start minimizing infrastructure complexity and improve alignment across the whole security stack. They can also review existing solutions to introduce better and more advanced solutions.

The steps organizations should take

The report also recommends that organizations focus on people. Senior leadership needs to look at security as a competitive advantage and priority, with investments in new and existing talent to keep up with the rapidly changing threats.

Trend Micro and the Ponemom Institute teamed up to investigate the level of cyber risk across organizations and create a Cyber Risk Index to measure the gap between an organization’s current security posture and how likely it is to be attacked.

A total of 3,677 respondents across North America, Europe, Latin America, and Asia-Pacific were queried for the survey.