Top Cybersecurity Concerns:
A Global Perspective
After a year of geopolitical and economic uncertainty, explore executive perspectives on a wide array of cybersecurity and business issues entering 2023.
Dig into highlights from our survey of 900+ decision makers from growing and established enterprises to discover how market forces and cyber threats are impacting their decisions.
Economic Headwinds Are Battering Businesses
Sales and Marketing
IT and Security
Operations and Facilities
Economic uncertainty and recession fears are causing organizations to tighten budgets at best and reduce headcount at worst. But, with IT and security teams seeing more layoffs than any other department except sales and marketing, these reductions could leave organizations less secure and vulnerable to threats from bad actors.
Fully managed security operations solutions like those provided by Arctic Wolf can shore up your team and solve the cyber talent shortage for your organization, providing 24×7 eyes-on-glass coverage from a named team of security experts.
Inflation is the top business concern entering 2023, with over half of organizations fearing it will impact their business in the new year — if it hasn’t already.
“While a turbulent economic climate will have many executive leaders taking a long hard look at their budgets over the coming year, threat actors will certainly continue to invest in developing new tactics, techniques, and procedures with the end goal of executing cyber attacks. With over half of organizations experiencing a breach in the last year, it is no longer a matter of if an incident occurs, it’s when.”
Ian McShane, VP of Strategy, Arctic Wolf
Perhaps the most troubling set of findings from this survey paints a concerning picture of incident response, accountability, and transparency.
In the event of a breach, just over half of IT and security leaders say they would inform their executive team, and only 25% would tell their customers.
What you don’t know can very much hurt you. Without open dialogue, accountability, and transparency in the wake of a breach, organizations lose the opportunity to learn from their mistakes and the mistakes of others, giving threat actors another advantage they don’t need or deserve.
Arctic Wolf® Incident Response, powered by Tetra Defense, provides a full suite of services to help you respond faster and emerge stronger post-breach — including digital forensics, business operations restoration, data recovery and threat actor negotiations. This ensures that both your organization and your reputation recover from a breach.
Physical Supply Chain Disruptions
Stock Market Volatility
The state and trajectory of the economy is currently more concerning than cyber threats to many organizations. We find a correlation with this and anticipated spending in 2023, with 21% reporting stagnant security budgets year over year.
The price of Arctic Wolf’s security operations solutions is based on stable parameters including users and servers, allowing businesses to fully secure environments while controlling costs.
Cloud Concerns are Climbing
Business Email Compromise (BEC)
Supply Chain Attack
The rapid adoption of cloud services and the rise of hybrid and remote work has forced organizations to grapple with the complexity of properly configuring their cloud. While ransomware and BEC attacks may claim the majority of headlines, it’s cloud security that keeps executives up at night.
Of the 52% of enterprises who admitted to experiencing at least one major security event in the last year, over a third of them were hit by BEC. This is likely due to an increase in malicious messages on social networking sites like LinkedIn.