Over Half of Global Firms Struggle to Assess Cyber Risk Exposure

Rhea-AI Summary

Trend Micro's recent research reveals that 54% of global organizations believe their cyber risk assessments lack sophistication, leaving them vulnerable to various threats including ransomware and phishing attacks. Key findings show 28% struggle with manual attack surface mapping, while 32% face challenges with multiple tech stacks. Over 80% of respondents feel exposed to cyber threats. Additionally, a majority of decision-makers lack the ability to effectively quantify risk exposure to leadership. The study underscores the need for unified platforms to enhance visibility and risk management.

Positive

• 39% of organizations are investing in platform-based attack surface management.
• Reported benefits of platform adoption include improved visibility (38%), faster breach detection (35%), and accelerated response (34%).

Negative

• 54% of organizations feel their cyber risk assessments are not sophisticated enough.
• 28% struggle with manual attack surface mapping.
• 32% report difficulty working with multiple tech stacks.
• Over 80% feel exposed to ransomware, phishing, and IoT attacks.
• More than half of decision-makers cannot accurately quantify risk exposure.
• Only 3% believe their C-suite fully understands cyber risk.

Trend Micro research reveals increased complexity and reduced confidence

DALLAS, July 21, 2022 /PRNewswire/ -- New research from global cybersecurity firm Trend Micro has revealed that 54% of global organizations feel their cyber risk assessments are not sophisticated enough – exposing them to ransomware, phishing, IoT and other threats. Respondents also indicated that overly complex tech stacks and lack of awareness from leadership are exacerbating issues.

Trend Micro research reveals 54% of global organizations feel their cyber risk assessments are not sophisticated enough.

For more information on Trend Micro's global risk research, click here: https://www.trendmicro.com/explore/trend_global_risk_research_2

Many organizations are struggling with manual approaches to attack surface mapping (28%), and 32% report difficulty working with multiple tech stacks. This may explain why only around 40% are able to accurately detail any one of the following based on risk assessments:

• Risk levels for individual assets
• Attack attempt frequency
• Attack attempt trends
• Impact of a breach on any particular area
• Industry benchmarks
• Preventative action plans for specific vulnerabilities

Bharat Mistry, Technical Director at Trend Micro: "We already knew that organizations are concerned about a fast-expanding digital attack surface with limited visibility. Now we know that they also need urgent help to discover and manage cyber risk across this environment. In many cases, the challenge is compounded by siloed point solutions. Organizations must search for a single platform that gives them the certainty and security they require."

About one third of the IT and business decision makers Trend Micro interviewed say that assessing risk is the main area of attack surface management they struggle with. As a result, over 80% feel exposed to ransomware, phishing and IoT attacks.

The inability of organizations to accurately assess attack surface risk also keeps business leaders in the dark. Over half of respondents struggle to quantify risk exposure to leadership, and only 3% believe their C-suite fully understands cyber risk at present.

There's a clear opportunity here for organizations to leverage third-party expertise.

Two-fifths (39%) of respondents are already invested in a platform-based approach to attack surface management, while half (50%) of respondents say they'd like to do the same. Of those who've already made the move, improved visibility (38%), faster breach detection (35%) and accelerated response (34%) are the most cited advantages.

Trend Micro commissioned Sapio Research to interview 6297 IT and business decision makers across 29 countries to compile the study.

About Trend Micro

Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro's cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world. www.TrendMicro.com. 

View original content:https://www.prnewswire.com/news-releases/over-half-of-global-firms-struggle-to-assess-cyber-risk-exposure-301591386.html

SOURCE Trend Micro Incorporated

FAQ

What does Trend Micro's research indicate about global organizations and cyber risk assessments?

Trend Micro's research indicates that 54% of global organizations feel their cyber risk assessments are insufficient, exposing them to various cyber threats.

How many organizations struggle with manual attack surface mapping according to Trend Micro?

According to Trend Micro, 28% of organizations struggle with manual attack surface mapping.

What percentage of organizations feel exposed to cyber attacks like ransomware and phishing?

Over 80% of organizations feel exposed to cyber attacks such as ransomware and phishing.

What are the reported advantages of adopting a platform-based approach to attack surface management?

Organizations report advantages such as improved visibility (38%), faster breach detection (35%), and accelerated response (34%) with a platform-based approach.

What percentage of decision-makers believe their C-suite understands cyber risk?

Only 3% of decision-makers believe their C-suite fully understands cyber risk.