A data breach, insider event, or ransomware attack can happen at any time – next month, next week, even tomorrow. The impact of such events can be widespread, from minimal to financially, and reputationally significant across an organization.
Businesses around the world face mounting losses from cybercrime, as noted by recent research, which estimates that cyberattacks over a 12-month period cost its 3,300- firm survey group a total of $1.2 billion.i According to the FBI, there was a 400% increase in cyberattacks during the pandemic last year.ii The increase in the volume of cyberthreats, coupled with a growing attack surface caused by a stay-at-home workforce and the rapid adoption of cloud applications, further highlights the importance of having a cyber incident response plan.