Cyber Risk Index highlights elevated risk as organisations struggle with visibility

The findings come from Trend Micro's semi-annual Cyber Risk Index (CRI) report, compiled by the Ponemon Institute from interviews with over 4,100 organizations across North America, Europe, Latin/South America, and Asia-Pacific.

To read a full copy of the latest Cyber Risk Index, please visit: www.trendmicro.com/cyberrisk

Jon Clay, VP of threat intelligence at Trend Micro: "You can't protect what you can't see. But with hybrid working ushering in a new era of complex, distributed IT environments, many organizations are finding it difficult to eradicate growing security coverage and visibility gaps. To avoid the attack surface spiraling out of control, they need to combine asset discovery and monitoring with threat detection and response on a single platform."

The CRI calculates the gap between organizational preparedness and the likelihood of being attacked, with -10 representing the highest level of risk. The global CRI index moved from 0.04 in 2H 2021 to 0.15 in 1H 2022, indicating a surging level of risk over the past six months.

This trend is also reflected elsewhere in the data: the number of global organizations experiencing a "successful" cyber-attack increased from 84% to 90% over the same period. Unsurprisingly, the number now expected to be compromised over the coming year has also increased from 76% to 85%.

Some of the top preparedness risks highlighted by the index report are related to attack surface discovery capabilities. It is often challenging for security professionals to identify the physical location of business-critical data assets and applications.

From the business perspective, the biggest concern is the misalignment between CISOs and business executives. Based on the scores given by the respondents, “My organization’s IT security objectives are aligned with business objectives” only has a score of 4.79 out of 10.

By addressing the shortage of cybersecurity professionals and improving security processes and technology, organizations will significantly reduce their vulnerability to attacks.

Dr. Larry Ponemon, chairman and founder of Ponemon Institute: "The CRI continues to provide a fascinating snapshot of how global organizations perceive their security posture and the likelihood of being attacked. The stakes couldn't be higher in the face of stiff macroeconomic headwinds. Respondents pointed to the high cost of outside expertise, damage to critical infrastructure, and lost productivity as the main negative consequences of a breach."

Overall, respondents rated the following as the top cyber threats in 1H 2022:

1) Business Email Compromise (BEC)

2) Clickjacking

3) Fileless attacks

4) Ransomware

5) Login attacks (Credential Theft)