The reputational risks and financial costs of cybercrime are only growing in this interconnected world. “Mega breaches,” costing $1 million or more, are rising — up 36% from 27% in 2022, according to PwC’s 2024 Global Digital Trust Insights survey. Yet, despite the potential liabilities, one-third of companies surveyed admitted to not adhering to standard cybersecurity practices to avoid them.
Considering how organizations, especially medium to large enterprises, often address security risks, the number flaunting security protocols isn’t so surprising. Instead of operating with a comprehensive strategy to protect their cyber resources, many still rely on a patchwork approach with separate IT operations and security teams, who often are at odds with one another.
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