What You Need to Know from Verizon's 2024 Data Breach Report

Verizon recently released their annual Data Breach Investigations Report (DBIR). The 2024 report analyzes over 30,000 security incidents (over double from last year), giving us a clear picture into the threats and vulnerabilities facing organizations today. 

The DBIR provides a crucial snapshot of the cybersecurity landscape, highlighting the most common threats and vulnerabilities facing organizations today. As cyber threats continue to evolve and multiply, it’s more important than ever for organizations to stay informed and proactive. By understanding these trends, organizations can better prepare and protect themselves against potential security incidents.

Here are 4 key takeaways from the report: 

Takeaway 1: Vulnerabilities are a Prime Target 

The report reveals that vulnerabilities are still the primary entry point for attackers, with 78% of breaches involving exploitation of vulnerabilities or weak passwords. This is a big reminder to prioritize patch management and vulnerability scanning. Don’t leave your doors unlocked!

Takeaway 2: Human Error Remains a Significant Risk 

Unfortunately, human error is still a major contributor to security incidents, with 68% of breaches involving a non-malicious human element. This emphasizes the need for ongoing security awareness training and education to help prevent mistakes that can lead to a breach. 

Takeaway 3: Ransomware and Extortion Attacks are on the Rise 

Additionally, the report highlights a significant spike in ransomware and extortion attacks, with these types of attacks accounting for 32% of all breaches. This emphasizes the importance of implementing robust backup and disaster recovery plans. This ensures that security controls are in place to prevent the spread of malware. 

Takeaway 4: Error-Related Breaches are a Growing Concern 

Moreover, the report shows that breaches caused by errors (like misconfigurations and sending sensitive data to the wrong party) are becoming more common. This highlights the need for organizations to prioritize security awareness training and implement robust security protocols to prevent these types of breaches. 

Furthermore, the DBIR highlights the importance of incident response planning and preparedness. With the increasing number of security incidents, it’s crucial for organizations to have a solid plan in place in the event of a breach. This includes having a clear communication strategy and regular testing and exercises to ensure readiness. 

Furthermore, the report emphasizes the need for organizations to adopt a proactive and layered security approach. This includes implementing robust security controls: multi-factor authentication, encryption, and network segmentation.

Additionally, organizations should prioritize regular security assessments, penetration testing, and vulnerability scanning to identify and remediate weaknesses before they can be exploited. Taking a proactive and layered approach to security can allow organizations to stay ahead of emerging threats. By prioritizing patch management, training, and robust security protocols, organizations will reduce the risk of a breach.

Finally, if you’re concerned about your organization’s security and compliance, we’re here to help. Our team can help you conduct a comprehensive Security Risk Analysis (SRA). We will implement the necessary controls to ensure you’re secure and compliant.