81% of Organizations Experienced Increased Cyber-Threats During COVID-19

81% of Organizations Experienced Increased Cyber-Threats During COVID-19

More than four in five (81%) organizations experienced increased cyber-threats during the COVD-19 pandemic, according to a new study by McAfee and FireEye.

The global survey of 1451 IT and line of business decision-makers found that close to half (43%) have suffered from downtime due to a cyber concern. This resulted in costs of $100,000 for some organizations.

Despite the increased threat landscape and the fact that over half (57%) of organizations saw a rise in online/web activity, 24% of respondents revealed they have had their technology and security budgets reduced over this period.

The study also highlighted cybersecurity concerns felt by a number of organizations ahead of this year’s holiday season. Despite many industries expecting to see a surge in demand for goods and services, three-quarters (75%) of organizations admitted they struggle to maintain a fully staffed security team during the festive period. Additionally, 73% of respondents expect at least half of their organization’s employees to work remotely over this time, making them more vulnerable to attacks.

McAfee highlighted e-commerce and retail as a particularly vulnerable sector, with cyber-criminals likely to take advantage of increased online shopping in this period. Common attack methods include compromised payment credentials and cloud storage,

Read More: https://www.infosecurity-magazine.com/news/81-orgs-cyber-threats-covid19/