TechGuard's Response to The Verizon Breach Report 2023

The Verizon Breach Report 2023 emphasizes the importance of organizations being proactive about cybersecurity in 2024, as it reveals that proactive organizations are less likely to experience breaches. The report highlights an increase in ransomware attacks, external actors, phishing attempts, stolen credentials, and sensitive data theft. Furthermore, it states that the average cost of a data breach has risen to $4.24 million (compared to $3.86 million in 2022), with a median time of 280 days to identify a breach and 73 days to contain it. Industries most affected by breaches include healthcare, finance, and government, with personally identifiable information (PII) and financial data being the most commonly stolen data types. If your organization falls within these categories, these findings are particularly relevant to you.

Based on our analysis of the report, the following proactive services should be prioritized in 2024:

1. Vulnerability Assessments: Identify and address vulnerabilities in your external security posture to ensure your defenses are robust.

2. Penetration Testing: Conduct thorough testing to assess the effectiveness of your security measures and identify any potential weaknesses.

3. Incident Response Tabletop Exercises: Be prepared to respond swiftly and effectively to security incidents by practicing incident response scenarios.

4. Security Awareness Training: Educate your employees about phishing scams, the significance of strong passwords, and other essential security practices.

By focusing on these proactive measures, you can enhance your organization's security posture, minimize the risk of breaches, and protect your sensitive data.