Report reveals growing cost of cyber attacks on businesses in 2022

Orani Amroussi | December 08, 2022

Latest research shows 75% of businesses have been impacted by an IT security vulnerability

TEL AVIV, IsraelDec. 8, 2022Vulcan Cyber®, developers of the cyber risk management platform for infrastructure, application, and cloud vulnerabilities, today released Cyber Risk in 2022: a 360° View, a report designed to help organizations develop an actionable, high-level view of the modern cybersecurity environment. The report, developed by the Vulcan Cyber in-house research team, Voyager18, highlights the biggest developments and underlying narratives to cyber risk in 2022 and suggests ways to improve and maintain security posture as we enter 2023.

Vulcan Cyber and the Voyager18 team worked with Gartner Pulse, tapping into its social research platform of CIOs, CISOs, and other tech leaders to develop a clear view of the factors that are most important to the industry.

Key findings:

  • 75% of businesses report having been impacted by an IT security vulnerability
  • 73% of cybersecurity practitioners surveyed report a skills shortage as one of the main challenges they face
  • While 87% of respondent organizations rely on threat intelligence for prioritization, only 66% have a dedicated budget for threat intelligence
  • While most forms of cyberattack are on the rise, including malware, ransomware, browser vulnerabilities, supply chain risks, and more, zero-day exploits are down to 18 from 80 the previous year

“Over the past several years, the pace of cyber incidents has only increased along with the attack surface as organizations have changed their IT architecture to accommodate remote work, for example. Unfortunately, security teams are struggling to keep up,” said Ortal Keizman, Voyager18 team lead. “Teams often spend so much time reacting to urgent tasks that it precludes a proactive approach. This report is designed to give practitioners the industry-level info they need to make strategic decisions about their cybersecurity posture, and ultimately to develop a mature vulnerability management program.”

The report is comprised of three parts:

  • Part 1: The cyber risk landscape – Examining the most important general trends in cybersecurity by the numbers as malware, ransomware, supply chain risks, and the overall attack surface are all on the rise.
  • Part 2: Inside cyber research – As security teams place a greater emphasis on threat intelligence and data, Voyager18 dives into how cyber research actually works, including how vulnerabilities are identified and their impact appraised. The team looks at common CVE types and how to fix them as examples.
  • Part 3: Looking ahead to 2023 – Voyager18 highlights trends to expect in 2023, the importance of deduplicating cyber risk data, and general recommendations for moving forward.

“In cybersecurity, we all have a common goal,” said Yaniv Bar-Dayan, CEO of Vulcan Cyber. “Unfortunately, so do malicious actors. This report is meant to help establish best practices for protecting our networks by putting the trends and vulnerabilities into actionable context for practitioners. The more common ground we can establish and maintain in the way of best practices for vulnerability management and overall cybersecurity, the better protected we are.”

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About Vulcan Cyber

Vulcan Cyber has developed the industry’s first cyber risk management platform, built to help businesses reduce cyber risk through measurable and efficient infrastructure, cloud and application security programs. The Vulcan platform orchestrates and tracks the cyber risk management and remediation lifecycle from scan to fix by prioritizing vulnerabilities, curating and delivering the best remedies, and automating mitigation processes through the last mile of remediation at scale. Vulcan Cyber is proud to offer Remedy Cloud and Vulcan Free as freemium SaaS solutions for IT security teams at businesses of all sizes. The unique capability of the Vulcan Cyber platform has garnered Vulcan Cyber recognition as a 2019 Gartner Cool Vendor and as a 2020 RSA Conference Innovation Sandbox finalist.

Media contact:

Rohan Notaney

Lumina Communications on behalf of Vulcan Cyber

[email protected]

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