Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Threat Intelligence

1/30/2017
12:50 PM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Arctic Wolf Networks Survey Reveals Mid-Market Cybersecurity Dissonance: Highlights Disparity Between Perception vs. Reality

Half of respondents say they don't know where to start to improve security posture

SUNNYVALE, CA – January 26, 2016 - Arctic Wolf Networks, a leading security operations center (SOC)-as-a-service company, today announced a new study, “The State of Mid-Market Cybersecurity: Findings and Implications” in partnership with Vanson Bourne that reveals major gaps between the perception and reality of cybersecurity challenges. The survey found that mid-market enterprises had very high confidence in their cybersecurity defenses, but in reality  they struggled to defend against malicious activity that has become more sophisticated, more targeted and severe.

The data revealed a cybersecurity dissonance among mid-market enterprises, highlighting the disparity between what IT professionals believe versus the reality of their security posture. Ninety-five percent of IT professionals believe their cybersecurity posture is above average to great, yet 100 percent of these same respondents report that their organization’s cybersecurity could improve in one or more areas. Additional data supporting the cybersecurity dissonance includes:

  • 72 percent of respondents report that their role covers so many different areas that it is difficult to focus on IT security as much as they should.
  • 50 percent of the respondents said that security is so complex, they don’t know where to start to improve their organization’s security posture.
  • 51 percent say they would would like their organization to assign more budget and/or resources to IT security.

“Most mid-market enterprises believe they are safe because they have the traditional perimeter defenses in place,” said Brian NeSmith, CEO of Arctic Wolf Networks. “This falls far short of what’s needed for rigorous security in today’s complex threat environment.  The challenge smaller enterprises face is that they have all the same security issues as large enterprises with only a fraction of the budget and less specialized personnel.”

The survey from Vanson Bourne polled 200 IT decision makers in the United States who have involvement in their organization’s cybersecurity programs. Despite their overly optimistic view of their own security structure, the survey found that organizations are, in reality, struggling with several cybersecurity challenges, including:  

  • 90 percent say they need the capability to detect and respond to threats beyond their traditional perimeter defenses.
  • 50 percent indicate that security alerts are investigated “when IT staff have time.”
  • 77 percent of security alerts are investigated after more than hour.
  • 52 percent of security alerts are investigated after more than one day.
  • 63 percent admit they may not be able to stop zero-day threats.
  • 88 percent report that having a security operations center would improve their company’s security.  

“Many mid-market organizations seem to have a sense of security bravado that leaves them particularly vulnerable to compromise,” said David Monahan, Senior Analyst, Enterprise Management Associates. “Malicious activity has been on a steady increase over the last few years and has been especially targeting small and midmarket business because they have valuable data but are generally unprepared for the assault. Seventy percent of ransomware attacks happen to organizations under five thousand employees and sixty percent of the attacked organizations go out of business within six months. Given these types of statistics, it is imperative that mid-size organizations seriously consider services that are specifically designed to provide the mid-market businesses with enterprise-grade security that fits a mid-market budget.”

The survey found that a security operations center (SOC) was highly desired but largely viewed as being out of budget among survey respondents.  A SOC is the most essential element of modern security, but they are very expensive and complicated to operate. Of the survey respondents, 59 percent reported that a SOC was too expensive for their organization.  The survey data showed that a SOC costs, on average, $1.4 million to establish.

“We embarked on this survey with Arctic Wolf to really understand the struggles that mid-market companies are facing when it comes to IT security threats and how to tackle them,” said Jimmy Mortimer at Vanson Bourne. “The perception does not match the reality of mid-market enterprise security, meaning that these companies are much more vulnerable to cyberattacks than they realize.”

A breakfast panel discussion will be held to coincide with the annual RSA Conference on February 14 at 9:00 am PT at the Cavalier in San Francisco, CA to discuss the findings of “The State of Mid-Market Cybersecurity: Findings and Implications” study. Interested parties can register to attend the panel here.

To download a full copy of the report, visit here.

You can download the accompanying infographic here.

For additional information about the mid-market cybersecurity dissonance, please visit: www.arcticwolf.com/cybersecuritydissonance.

About Arctic Wolf:

Arctic Wolf Networks provides SOC-as-a-service that is redefining the economics of security.. AWN CyberSOC is anchored by Concierge Security Engineers and includes 24×7 monitoring, custom alerting and incident investigation and response.  There is no hardware or software to purchase, and the end-to-end service includes a proprietary cloud-based SIEM, threat intelligence subscriptions and all the expertise and tools required.  

 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
COVID-19: Latest Security News & Commentary
Dark Reading Staff 10/27/2020
Modern Day Insider Threat: Network Bugs That Are Stealing Your Data
David Pearson, Principal Threat Researcher,  10/21/2020
Are You One COVID-19 Test Away From a Cybersecurity Disaster?
Alan Brill, Senior Managing Director, Cyber Risk Practice, Kroll,  10/21/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
Special Report: Computing's New Normal
This special report examines how IT security organizations have adapted to the "new normal" of computing and what the long-term effects will be. Read it and get a unique set of perspectives on issues ranging from new threats & vulnerabilities as a result of remote working to how enterprise security strategy will be affected long term.
Flash Poll
How IT Security Organizations are Attacking the Cybersecurity Problem
How IT Security Organizations are Attacking the Cybersecurity Problem
The COVID-19 pandemic turned the world -- and enterprise computing -- on end. Here's a look at how cybersecurity teams are retrenching their defense strategies, rebuilding their teams, and selecting new technologies to stop the oncoming rise of online attacks.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-27956
PUBLISHED: 2020-10-28
An Arbitrary File Upload in the Upload Image component in SourceCodester Car Rental Management System 1.0 allows the user to conduct remote code execution via admin/index.php?page=manage_car because .php files can be uploaded to admin/assets/uploads/ (under the web root).
CVE-2020-27957
PUBLISHED: 2020-10-28
The RandomGameUnit extension for MediaWiki through 1.35 was not properly escaping various title-related data. When certain varieties of games were created within MediaWiki, their names or titles could be manipulated to generate stored XSS within the RandomGameUnit extension.
CVE-2020-16140
PUBLISHED: 2020-10-27
The search functionality of the Greenmart theme 2.4.2 for WordPress is vulnerable to XSS.
CVE-2020-9982
PUBLISHED: 2020-10-27
This issue was addressed with improved checks to prevent unauthorized actions. This issue is fixed in Apple Music 3.4.0 for Android. A malicious application may be able to leak a user's credentials.
CVE-2020-3855
PUBLISHED: 2020-10-27
An access issue was addressed with improved access restrictions. This issue is fixed in macOS Catalina 10.15.3, Security Update 2020-001 Mojave, Security Update 2020-001 High Sierra. A malicious application may be able to overwrite arbitrary files.