Magnet Forensics Survey Shows Enterprises Expect to Make Major Investments in Digital Forensics to Combat Cyber Threats
22 Mars 2022 - 2:00PM
Business Wire
Ransomware was identified as the most frequent threat and only
13 per cent of respondents were able to avoid paying a ransom after
an attack.
Magnet Forensics (TSX: MAGT), a developer of digital
investigation software used by more than 4,000 enterprises and
public safety organizations in over 90 countries, today announced
the release of the IDC eBook, 2022 State of Enterprise DFIR.
Commissioned by Magnet Forensics, the survey revealed that more
than half of the respondents are expecting to make major
investments in digital forensics and incident response (DFIR)
technology over the next two years to address growing cybersecurity
threats.
“The results of the survey are clear: Digital forensics is going
to play a central role in helping enterprises protect their most
valuable digital assets over the next several years,” said Adam
Belsher, chief executive officer at Magnet Forensics. “Today’s
threat landscape calls for enterprises to be prepared to respond to
their leaders being impersonated in business email compromise
attacks, their intellectual property being encrypted and
exfiltrated through ransomware and the persistent threat of
insiders. These challenges are driving our innovation into
solutions such as Magnet AXIOM Cyber and Magnet AUTOMATE Enterprise
that give organizations the capabilities to investigate
cybersecurity incidents and recover from them.”
The survey of 466 DFIR decision makers and practitioners found
that major improvements are needed across the board in digital
forensic strategies. The respondents are expecting significant
investments to carry them out.
- About 1 in 3 respondents said major improvements or a complete
overhaul were needed in four of six functions of DFIR: analysis of
digital evidence, remote acquisition of target endpoints, cleaning
and organizing of information and documenting, summarizing and
reporting.
- More than 60 per cent of respondents expect major investments
to be made in five of the six functions of DFIR. Only remote
acquisition of target endpoints (58 per cent) fell below this
bar.
- Fewer than seven per cent of respondents expect no new
investments to be made in each function of DFIR over the next two
years.
- Nearly half the respondents ranked cloud forensics as the area
that requires the most significant additional resources in their
organizations.
“The sophistication and persistence of threat actors are
increasing every day and it’s leading enterprises to realize
they’ll need to make a strong investment in digital forensics and
incident response technology and talent to safeguard their assets,”
said Ryan O’Leary, research manager, privacy and legal technology
at IDC. “The survey shows digital forensics and incident response
professionals are worried about the dangers posed by ransomware and
malware over the next two years and that major investments will be
needed to address their concerns.”
The additional investments would come at a time when the volumes
of data and cybersecurity threats are overwhelming organizations’
existing digital forensics personnel. The survey found that
organizations with 500 to 999 employees are operating with an
average of just two digital forensics professionals, while those
with more than 10,000 have an average of under 15. Nearly 50 per
cent said they’re turning to third-parties for help due to the
excessive volume of investigations they’re handling. These
professionals, the survey found, responded to major cybersecurity
events that placed their organizations’ most valuable assets at
risk in the past year.
- Nearly 1 in 4 respondents identified ransomware as the most
frequent event they investigated in the past year.
- Most ransomware attacks culminated in monetary damages. The
most common ransom paid by the respondents (17 per cent) was
between US$100,001 and US$500,000.
- Ransoms above US$1 million may be rare, but five per cent of
respondents paid them.
- Only 13 per cent of respondents who handled ransomware attacks
avoided paying a ransom.
- The damages caused by ransomware attacks weighed on the
respondents’ outlook for the next two years. Going forward, they
are three times more concerned by ransomware and malware than they
are by any other threat.
To learn more, sign up to attend the upcoming webinar, “Key
Findings from Magnet Forensics’ Annual Survey of Enterprise DFIR
Professionals,” on Apr. 6. The webinar will feature a panel of
experts from Magnet Forensics and IDC and will begin at 11 a.m. in
EST, PST, AEDT and CET time zones.
Source: IDC eBook, sponsored by Magnet Forensics, 2022 State of
Enterprise DFIR, doc #CA48870522BRO, 2022.
Survey methodology
IDC conducted a web survey, commissioned by Magnet Forensics, of
466 digital forensics and incident response decision makers and
practitioners between Sept. 15 and Oct. 15, 2021. The respondents
all work at organizations with 500 or more employees, across a
variety of industries, and are stationed in the U.S., Canada, the
U.K., Germany and France. The results have a margin of error of +/-
4.35 per cent at a confidence interval of 95 per cent.
About Magnet Forensics
Founded in 2010, Magnet Forensics is a developer of digital
investigation software that acquires, analyzes, reports on, and
manages evidence from digital sources, including computers, mobile
devices, IoT devices and cloud services. Magnet Forensics’ software
is used by more than 4,000 public and private sector customers in
over 90 countries and helps investigators fight crime, protect
assets and guard national security.
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version on businesswire.com: https://www.businesswire.com/news/home/20220322005221/en/
Neil Desai Tel: 226-243-6337 PR@magnetforensics.com
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