A zero-trust approach helps reduce cost
2022-05-26![A zero-trust approach helps reduce cost A zero-trust approach helps reduce cost](https://varindia.com/storage/news/uploads/2018/02/628f2979df312.jpg)
The data breach now costs organizations an average of $4.24 million, this is a 10% rise from the average cost in 2019 which was $3.86 million. The global average cost of cybercrime is expected to peak at US $6 trillion annually by the end of 2021, driven by the proliferation of ransomware attacks.
Ransomware as a service (RaaS) is a subscription-based model that enables affiliates to use already-developed ransomware tools to execute ransomware attacks. Affiliates earn a percentage of each successful ransom payment. Ransomware as a Service (RaaS) is an adoption of the Software as a Service (SaaS) business model.
The report by Ponemon Institute and IBM Security takes into account hundreds of cost factors from legal, regulatory, and technical activities, loss of brand equity, customer turnover, and drain on employee productivity. The report encourages businesses to reduce data breach costs by addressing cybersecurity risks and improving overall security posture. Cybercrime costs include damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems, and reputational harm.
The average cost of a breach was $1.76 million less at organizations with a mature zero trust approach, compared to organizations without zero trust. Data breaches can be far more than a temporary terror — they may change the course of your life. Businesses, governments, and individuals alike can experience huge complications from having sensitive information exposed.
Zero Trust is the Architecture of the Future. Whether you are offline or online, hackers can get to you through the internet, Bluetooth, text messages, or the online services that you use.
Without proper attention to detail, a small vulnerability can cause a massive data breach. Since many people are unaware of how common modern security threats work, they don’t give it enough attention. The dark web is a criminal-infested network, so any leaked information on the platform will give multiple cybercriminal groups free access to your sensitive data and those of your customers.
The fear of further exploitation compels many ransomware victims to comply with cybercriminal demands. Most ransomware victims are breached through phishing attacks. Data protection, data security, and data breach prevention strategies will also help achieve this and should be integrated into information security policies. When the world rushed to support a remote workforce, many organizations were literally digging up old VPN appliances from closets – they did whatever they had to, to keep the lights on.
Now, having caught their breath, security and network teams are looking to the future for new approaches like Secure Access Service Edge (SASE) to deliver uniform visibility and control across the web, cloud, and private apps. At the same time, the surge in cyberattacks felt across these exposed environments has prompted a move towards the Zero Trust security model.
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