Verizon Mobile Security Index: COVID-19 unearths new cyber threats for businesses

Rhea-AI Summary

Verizon's Mobile Security Index 2021 reveals significant vulnerabilities faced by businesses during the pandemic. A survey of 856 professionals shows that 49% of businesses reported adverse impacts on cybersecurity due to remote working changes. 40% identified mobile devices as their top IT security threat, yet 45% compromised mobile security for productivity. Over half (52%) believe small and medium-sized businesses are more at risk, with 59% having sacrificed security. The report highlights the critical need for enhanced mobile security as remote work remains prevalent.

Positive

• Survey indicates heightened awareness of mobile security threats among companies.
• Findings emphasize the potential for businesses to improve cybersecurity measures moving forward.

Negative

• 49% of businesses reported adverse effects on cybersecurity from remote work changes.
• 40% of respondents identified mobile devices as the biggest IT security threat.
• 45% of businesses sacrificed mobile device security to achieve productivity targets.
• 59% of small and medium-sized businesses compromised security during the pandemic.

What you need to know:

• Nearly half (49 percent) of businesses surveyed said that changes to remote working practices made during lockdown adversely affected their cybersecurity.
• 40 percent think mobile devices are their company’s biggest IT security threat.
• However 45 percent of businesses sacrificed the security of mobile devices to “get the job done.”
• Results based on an independent survey of 856 professionals responsible for the buying, managing and the security of mobile and Internet of Things (IoT) devices for their companies.

BASKING RIDGE, N.J., April 06, 2021 (GLOBE NEWSWIRE) -- The COVID-19 pandemic forced businesses to quickly support remote working practices, often without proper security measures in place. The Verizon Business Mobile Security Index (MSI) 2021 reveals that many businesses may have left themselves vulnerable and open to cybercriminals in the rush to ensure their workforce could operate remotely. Forty-nine percent of businesses surveyed in the latest edition of Verizon's MSI stressed that changes made to remote working practices during lockdown adversely affected their company’s cybersecurity.

Interestingly, even though 40 percent of businesses surveyed recognized that mobile devices are their company’s biggest IT security threat, 45 percent of them knowingly sacrificed the security of mobile devices to “get the job done” (e.g., meet a deadline or productivity targets) and nearly a quarter (24 percent) sacrificed the security of mobile devices to facilitate their response to restrictions put in place due to the pandemic.

“The pandemic caused a global shift in the way organizations operate, many of which ramped up their digital transformation agendas and working models to meet the fast-changing needs of both employees and customers,” said Sampath Sowmyanarayan, Chief Revenue Officer, Verizon Business. “While businesses focused their efforts elsewhere, cybercriminals saw a wealth of new opportunities to strike. With the rise of the remote workforce and the spike in mobile device usage, the threat landscape changed, which for organizations, means there is a greater need to hone in on mobile security to protect themselves and those they serve.”

The effect of the pandemic on the workforce is going to have a lasting impact. According to the report, a large majority (70 percent) of those that had seen remote working grow following the introduction of pandemic restrictions expected it to fall again afterward. However, 78 percent said that it would still remain higher than before lockdown. Overall, our respondents said that they expected the number of remote workers to settle at around half (49 percent).

Small and Medium-Sized Businesses are also under threat

Over half of those surveyed (52 percent) said that small and medium-sized businesses are more of a target than larger enterprises but even though this is the case, 59 percent of small and medium-sized businesses had sacrificed security with 22 percent suffering a mobile compromise. Seventy-eight percent stated that they should take mobile-device security more seriously.

Security should always be front and center

Of those surveyed, 72 percent of organizations are worried about device abuse or misuse. Part of the problem is that many companies struggle to develop an effective Acceptable Use Policy (AUP) — 57 percent didn’t have one at all.

The MSI details people and behaviors, apps, devices and things and networks and cloud as the four sectors of the mobile threat landscape. Additionally, it provides expert insights into how to help safeguard against pending cybercrime attacks, such as establishing a “zero trust network access (ZTNA)” model and a secure access service edge (SASE) architecture, which is designed for a mobile-first and cloud-first world.

About the Verizon Mobile Security Index 2021

The Verizon Mobile Security Index 2021 findings are based on an independent survey of 856 businesses across Australia, the U.S. and the U.K. It surveyed professionals that are responsible for the buying, managing, and security of mobile and Internet of Things (IoT) devices for their companies.

It provides unique insights into the current mobile threat landscape and what organizations are, or in many cases aren’t, doing to protect their data and key systems. In addition to analysis from Verizon’s experts, the report includes insights and real-world data from leading security and management companies Asavie, Blackberry Cylance, Check Point, IBM, Ivanti, Lookout, NetMotion, Netskope, Proofpoint, Qualcomm, Thales, VMware, and Wandera.

Read the full Verizon Mobile Security Index 2021, as well as the Public Safety, Public Sector and small and medium-sized businesses snapshots, and learn more about what Verizon is doing to help address cybersecurity threats.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Kyle Ragonese
kyle.ragonese@verizon.com
732.236.3526
@KyleRagonese

FAQ

What does the Verizon Mobile Security Index 2021 report reveal about cybersecurity risks during the pandemic?

The report indicates that 49% of businesses experienced negative impacts on cybersecurity due to changes in remote work practices.

How many businesses identified mobile devices as a security threat according to the MSI 2021?

40% of businesses surveyed recognized mobile devices as their biggest IT security threat.

What percentage of businesses sacrificed mobile security for productivity during the pandemic?

45% of businesses admitted to sacrificing mobile device security to meet deadlines and productivity targets.

What is the importance of mobile security for small and medium-sized businesses?

The survey indicates that 52% of respondents believe small and medium-sized businesses are more targeted, yet 59% compromised security.

What is the expected trend for remote work after the pandemic according to the MSI 2021?

78% of businesses expect to maintain a higher level of remote work compared to pre-lockdown levels.