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BEC Volumes and Ransomware Costs Double in a Year

Business email compromise (BEC) attacks doubled in the past year, accounting for nearly 60% of social engineering incidents, according to Verizon’s 2023 Data Breach Investigations Report. The report, based on analysis of over 16,000 security incidents and 5,199 breaches, also found that 74% of breaches involved the human element. Ransomware played a role in 24% of breaches, with the median cost of incidents doubling from last year. Most attacks were financially motivated.

Source: www.infosecurity-magazine.com –

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Identity and Access Management (IAM)

Identity and Access Management (IAM)

CISOs face mounting pressure to secure digital identities, with 80% of breaches stemming from compromised credentials. Identity and Access Management (IAM) must evolve into a