Verizon Publishes Annual Report on Cybersecurity Trends; Hans Vestberg Quoted

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Verizon has released its annual report analyzing cybersecurity crimes and patterns of system vulnerabilities around the world.

A report on data breach investigations for 2022 showed that ransomware intrusions rose 13 percent in one year, more than the rise in statistics in the previous five years combined, the telecommunications company said on Tuesday.

Hans Vestberg, CEO and president of Verizon, believes that while many social changes in previous pandemic years have affected business, cybersecurity is the most urgent area for evolution and change.

“As we continue to accelerate toward an increasingly digitalized world, efficient technology solutions, strong security frameworks and an increased focus on education will play a role in ensuring business security and customer protection,” Westberg said.

The report on data breach investigations also reflected the huge amount of cyber attacks coming from organized crime; external bad actors were four times more likely to stage a breach than an internal source.

The report further confirmed the excess supply chain problems that have gripped the business world over the past year, some of which are visible in cyber security incidents. 62 percent of systemic interceptions were committed by the company’s partner, due to the fact that successfully endangering a business partner can be a force multiplier for cybercriminals.

Based on the findings of the study, the human factor remains the most probable reason why the system of cyber organization is endangered. 82 percent of the violations were not due to technological weakness, but due to human error, abuse of privileges or an incident of social engineering. This second category alone accounts for 25 percent of violations.

“As the report evolves, the basics of security remain the same. Assess your exposure, mitigate the risk and take appropriate action, ”said Dave Hylender, lead author of DBIR.

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