Verizon: IoT/mobile cyberattacks leading to downtime increase 22%

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Verizon’s latest Mobile Security Index (MSI) highlights continuing growth in IoT/mobile cyberattacks leading to downtime.

According to the research, cyberattacks in the last year involving a mobile/IoT device – that resulted in data or system downtime – increased 22 percent year-on-year.

23 percent of surveyed enterprises had suffered a compromise. Of those, 74 percent said the impact was “major” and over a third (34%) said that it had lasting repercussions.

Sampath Sowmyanarayan, CEO of Verizon Business, said:

“For businesses–regardless of industry, size, or location on a map–downtime is money lost. Compromised data is trust lost, and those moments, although not insurmountable, are tough to rebound from.

Companies need to dedicate time and budget on their security architecture, especially when it comes to off-premise devices: otherwise, they are leaving themselves vulnerable to cyber-threat actors.”

A large number of enterprises have allocated budgets to improve their security. 85 percent of the surveyed companies report having a budget dedicated to mobile security.

Four out of five (81%) organisations said their spending on mobile device security had increased over the past year. 76 percent believe it will increase further over the coming year.

However, a concerning 66 percent of respondents said they’ve come under pressure to sacrifice mobile-device security “to get the job done”. 52 percent have ended up succumbing to that pressure.

The MSI provides suggestions for safeguarding against the growing number of cyberattacks, including establishing a “zero trust network access” (ZTNA) model and a secure access service edge (SASE) architecture.

A full copy of the 2022 Mobile Security Index is available here.

(Photo by Romson Preechawit on Unsplash)

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