Only 42% Canadian Organizations Plan To Invest In Security Tools This Year: Trend Micro

Digital transformation since the pandemic has pushed many organizations over a technology “tipping point”. The more they invest in digital infrastructure to drive sustainable growth, the more they are exposing themselves to cyber risk.

Trend Micro, leader in cloud security, published a new study which found that over two-thirds (69%) of Canadian businesses  are  concerned about having a broadening attack surface. However, only 42% plan to invest in security tools and technologies to combat it this year.

Visibility challenges appear to be the main reason organizations struggle to manage and understand cyber risk in these environments. In Canada, even though a majority (88%) of respondents believe their organization have a well-defined way to assess the risk exposure of its digital attack surface, 60% said they have blind spots that hamper their security.

Other Canadian findings include:

  • Nearly half (48%) of respondents consider cloud service misconfigurations of cloud assets as the biggest risk exposure when it comes to their organization’s attack surface
  • One-third (34%) of organizations feel fully exposed to the cyber risk of phishing
  • 44% of respondents consider email attacks as the primary way of a cyber-attack starting against their organization
  • 88% of respondents in Canada believe their organization have a well-defined way to assess the risk exposure of its digital attack surface
  • More than half of the respondent (53%) would describe their organization’s digital attack surface as being “complex but controlled.”58% of organizations currently have a moderate risk exposure
  • 8-in-10 (84%) of organizations review/update their risk exposure in relation to their digital attack surface at least once a month
  • Just 18% review risk exposure on a daily basis

Those responsible for securing their enterprises should click here to give this study a read as it is eye opening.

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