The Race to Adapt: Fastly Research Reveals Businesses Lost Almost 10% of Their Revenue From Cyber Attacks in the Last Year
15 Novembro 2023 - 5:01AM
Business Wire
Organizations take an average of up to eight
months to recover from the negative effects of security breaches,
which include customer account compromises, and large-scale data
loss.
Fastly, Inc. (NYSE: FSLY), a leader in global edge cloud
platforms, has today launched its new annual global cybersecurity
report, uncovering the staggering impacts of cyber attacks on
leading businesses across the globe, with each of these suffering
an average of 46 known cyber attacks this year. This survey also
reveals the hugely damaging financial effects of security breaches,
with businesses losing 9% of their revenue over the last 12 months
as a direct result of the cyber attacks they have suffered. But
financial damage is not the only result of cyber attacks.
Businesses also highlighted network outages (34%), data loss (29%),
web applications being taken offline (24%) and customer account
compromises (22%) as the most common damages caused by security
breaches.
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For Fastly's latest security report we
surveyed almost 1,500 IT decision-makers in large organizations
globally to reveal their security investments and plans. This
report offers essential insights into current security concerns and
strategies, providing valuable input for shaping your cybersecurity
strategy for 2024 and beyond. (Graphic: Business Wire)
Sean Leach, VP Technology at Fastly, explained why these cyber
attacks are so damaging: “While the immediate results of a cyber
attack can be extremely damaging, what really hits businesses hard
is the time it takes them to recover from these. On average, it
will take businesses 7.5 months to recover from the loss of client
trust as a result of a cyber attack. That is highly sobering for
organizations which cannot afford to lose business in today’s
economic climate. Once trust is broken, it’s very difficult to
recover. This means a single cyber attack - particularly one
resulting in a customer data breach - will have long-term impacts
on the business that suffers it. During an uncertain economy, the
long-term financial consequences of suffering a security breach
cannot be ignored.”
In recognition of the financial implications of not having the
correct security infrastructure in place, businesses are
reevaluating their investments, with 76% planning to increase their
cybersecurity budgets in the next year. Despite this increase,
uncertainty continues to reign in security teams, with 35% of
security professionals feeling they spent too much on cybersecurity
tools in the last 12 months, compared to 18% who feel they did not
spend enough. Representative of this conflicted spending strategy
is the fact that only 55% of security tools are being fully
deployed, representing significant money left on the table in the
fight against cyber criminals.
The diminishing talent pool in security is also causing issues.
In fact 30% of cybersecurity professionals estimate that security
issues in the last 12 months were caused by the talent shortage,
with 33% predicting this will continue in the next 12 months.
Accordingly, over the past year 47% of businesses have increased
their talent-specific budgets to solve the problems presented by
the existing talent pool. A lack of experience dealing with new
threats (46%), a lack of necessary skills (36%), and an inability
to work at scale (36%) are seen by security professionals to be the
core challenges facing the talent pool, which have significantly
complicated the hiring process.
One potential solution to these challenges is Generative AI,
which 51% of security professionals are expected to invest in over
the next two years. This is also the top security priority for
businesses over the next 12 months, with 37% focussing on AI
security. This increased prioritization comes as a result of the
double-edged sword Generative AI presents. On one hand, it is
predicted to be the 2nd most prevalent threat driver in the next
year, but on the other, in the same time period 75% of
cybersecurity professionals estimate Generative AI’s impact will be
positive.
Leach added: “Despite now prioritizing the resolution of
challenges related to the talent pool for the last two years, many
businesses continue to try to address these by simply spending
more. While this strategy can help businesses to secure the top
talent, it ignores the technological developments - and alternative
solutions - that can help security teams overcome their personnel
challenges. Among these, we’ve seen that Managed Security Services
(MSS) and Generative AI have been particular focus areas as
businesses look to reduce the toil for their in-house security
teams by taking time-consuming work off their hands to increase
productivity, unlock new opportunities for innovation and ensure
businesses are better protected across their attack surface.”
To read the full report and understand how businesses can help
protect themselves within the constantly-evolving threat landscape,
visit https://learn.fastly.com/the-race-to-adapt.html
About the research
This research surveyed 1,484 key IT decision makers in large
organizations spanning multiple industries across North America,
Europe, Asia-Pacific and Japan.
About Fastly
Fastly’s powerful and programmable edge cloud platform helps the
world’s top brands deliver the fastest online experiences possible,
while improving site performance, enhancing security, and
empowering innovation at global scale. With world-class support
that achieves 95%+ average annual customer satisfaction ratings,
Fastly’s beloved suite of edge compute, delivery, security and
observability offerings has been recognized as a leader by industry
analysts such as IDC, Forrester and Gartner. Compared to legacy
providers, Fastly’s powerful and modern network architecture is one
of the fastest on the planet, empowering developers to deliver
secure websites and apps at global scale with rapid time-to-market
and industry-leading cost savings. Thousands of the world’s most
prominent organizations trust Fastly to help them upgrade the
internet experience, including Reddit, Pinterest, Stripe, Neiman
Marcus, The New York Times, Epic Games, and GitHub. Learn more
about Fastly at www.fastly.com and follow us @fastly.
Source: Fastly, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20231115803238/en/
Media Contact: Alex Klepel press@fastly.com
Investor Contact: Vernon Essi, Jr. ir@fastly.com
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