Verizon's 2020 Data Breach Investigations Report uncovered tens of thousands of security incidents, including 3,950 confirmed breaches (2.5%) across the industries studied.
Some of the common tactics of the breaches included hacking (45%), casual errors and social events (each 22%), malware (17%) and authorized user misuse (8%). The perpetrators in the breaches were external actors (70%) and organized criminal groups (55%), with 30% coming via internal actors.
The study uncovered several motivations that point to the risk of not identifying breaches as they arise: 86% were financially motivated, and 37% stole user credentials; 27% of malware were ransomware, and 22% involved phishing.
What do these patterns mean for your cyber security budget? One method of preventing these common threats is to educate users on the warning signs. Avoiding disclosing personal information, limiting clicking on links and training users on current data breach methods makes the entire company safer. When it comes to your budget for cyber security, investing in training programs and tools is the minimum requirement to ensure your staff is hearing a consistent message about data security best practices.