Verizon DBIR: Social Engineering Breaches Double Leading to Spiraling Ransomware Costs
Verizons Data Breach Investigations Report (DBIR) is an annual report that provides insight into the current landscape of cybersecurity threats and trends based on data collected from real-world incidents. It is widely regarded as one of the most comprehensive resources for understanding the state of cybersecurity.
Social engineering breaches, such as phishing and pretexting, have been on the rise in recent years due to their effectiveness in tricking individuals into providing sensitive information or access to systems. Attackers exploit human psychology and vulnerabilities to bypass traditional security measures.
Once attackers gain access to a network through social engineering tactics, they often deploy ransomware to encrypt critical data and demand payment for its release. The costs associated with ransomware incidents can spiral out of control, leading to significant financial losses for organizations.
Common types of social engineering attacks include phishing, vishing (voice phishing), pretexting, and baiting. These attacks rely on human interaction and manipulation to deceive individuals into disclosing confidential information or compromising security controls.
Organizations can protect themselves against social engineering attacks by educating employees about potential threats, implementing multi-factor authentication, conducting regular security awareness training, and implementing email filtering to detect and block malicious messages.
Ransomware poses a serious threat to organizations due to its ability to encrypt critical data and disrupt business operations. In addition to financial costs, ransomware incidents can result in reputational damage, regulatory fines, and loss of customer trust.
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Verizon DBIR finds social breaches double, spike ransomware costs.