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Home Process Incident Response

Cybernomics 101 - Uncovering the financial forces driving cyberattacks

Barracuda Networks by Barracuda Networks
February 28, 2024
Cybernomics 101 - Uncovering the financial forces driving cyberattacks

Cybernomics 101 - Uncovering the financial forces driving cyberattacks

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A global survey of over 1,917 IT security practitioners revealed the behaviour and proven security measures implemented by ’High Performers’ that can serve as models for success.

Key findings

  • US$5.34 million is the average annual cost to respond to a compromise.
  • US$1.38 million is the largest ransomware payment on average.
  • 62% of respondents say cyberattacks are becoming more sophisticated.
  • 39% believe their security infrastructure is adequately equipped to protect against GenAI-powered security attacks.

The report presents best practices that will help any organisation become more effective in identifying, containing, and recovering from attacks.

It also analyses the security challenges organisations face and the financial consequences following security compromises like ransomware and phishing. These include adopting a platform approach to security rather than relying on a collection of disparate individual security tools or solutions, implementing privileged access rights to ensure that sensitive data remains accessible only to authorised individuals, and creating (and regularly rehearsing) a security incident response plan.

The goal of the study is to determine how organizations can respond to the complexities of cybercrime when all it takes is one successful attack.

Click on the link to download your copy of the Barracuda Networks report today to learn revealing details such as how cyberattacks are becoming more sophisticated and severe, the impact of generative AI on cyberattacks, and why most organizations feel unprepared to defend against cyberattacks today.

Related:  Gartner reveals enterprise risk leaders top five fears
Tags: Barracuda Networkscybersecuritygenerative AIinfrastructure securityransomware
Barracuda Networks

Barracuda Networks

At Barracuda we strive to make the world a safer place. We believe every business deserves access to cloud-enabled, enterprise-grade security solutions that are easy to buy, deploy, and use. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers’ journey. More than 200,000 organizations worldwide trust Barracuda to protect them – in ways they may not even know they are at risk – so they can focus on taking their business to the next level. For more information, visit barracuda.com. Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries.

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