Businesses continue investing in perimeter security despite IT professionals' lack of confidence in them: Report

Continuous data breaches have cost business USD 1.1 million

As many as 69% of IT and information security decision makers are insecure about the effectiveness of their perimeter security system to tackle attacks. Despite that, organizations continue to invest in these systems, according to Gemalto, According to a new research by the security firm, the number of such professionals who are not confident about their permeter security, has gone up from 59% a year back.

Perimeter security systems include firewall, IDPS, AV, content filtering, anomaly detection, etc.

As per the research, Data Security Confidence Index, 66% of IT decision makers believe that unauthorized users can access their network and around one in ten (16%) believe that unauthorized users could access their entire network.As many as 3.9 billion data records worldwide have been lost or stolen since 2013, as per a report by Gemalto, a digital security firm.

Close to two-third (64%) of organizations globally experienced at least one data breach incident in past five years. More than a quarter, 27%, said they experienced a breach in the past 12 months, as per the survey. These breaches happened despite working perimeter security technology. Most of the attacks last year were carried through malware, viruses and ransomware which got through more than 27% of the organisations.

These breaches have cost organisations about USD 1.1 million, on an average over past 5 years. Most of the breaches were targeted to lure out company's financial data.

 

Most of IT leaders think perimeter security system lack the security measures to stop data breaches. Yet, a majority or organisations, 86%, had reportedly increased their spending on perimeter security and most of them, 68%, are doing it in coming 12 months.

As per the IT leaders more than 8% of organizations’ security budget is allocated to purchasing, deploying and maintaining perimeter security technology. A high number of businesses (85%) believe that their current investments are going to the right security technologies, as per the survey.


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