By Tom

SonicWall 2024 Mid-Year Cyber Threat Report: Key Insights and the Importance of Cybersecurity for SMEs

The latest SonicWall 2024 Mid-Year Cyber Threat Report has revealed some critical trends and statistics that every business should be aware of.

Here are some of the most eye-opening insights:

🔒 Ransomware Trends: Ransomware attacks are on the rise in the Americas, with a 15% increase in North America and a staggering 51% increase in Latin America. However, EMEA has seen a 49% decrease, thanks to improved cybersecurity measures and law enforcement interventions.

💻 Malware Surge: Malware attacks have surged, with a 92% increase in May alone. Notably, 15% of all malware is leveraging software packing as the primary MITRE TTP.

🌐 IoT Vulnerabilities: IoT devices are under significant threat, with an average of 52.8 hours spent under attack. IoT malware attacks have increased by 107%.

🔐 Encrypted Threats: Encrypted threats have jumped by 92%, showcasing the growing sophistication of cybercriminals who increasingly use TLS-encrypted transfers to deliver malware.

📉 Cryptojacking Decline: After a record-breaking year, cryptojacking incidents have dropped by 60%, except in India, where there has been a 409% increase.

📊 Business Impact: Without proper protection, at least 12.6% of all revenues are exposed to cyber threats. For a $10 million company, this equates to $1.2 million.

These insights underscore the critical importance of SMEs continuing to invest in their cybersecurity protection. Cyber threats are evolving rapidly, and businesses must stay vigilant and proactive to safeguard their operations and data.

🔑 Key Takeaways for SMEs:

1. Prioritise Rapid Patching: Regularly update and patch systems to mitigate vulnerabilities.
2. Implement Multifactor Authentication (MFA): Enhance security by requiring additional verification steps.
3. Augment Cloud Security: Utilise robust measures like Security Service Edge (SSE) and Sero-Trust Network Architecture (STNA).
4. Continuous Monitoring and Incident Response: Deploy real-time threat detection tools and develop a robust incident response plan.
5. Ongoing Training: Keep your team updated on evolving threats and defence strategies.

Investing in cybersecurity is not just a necessity; it’s a strategic move to protect your business’s future. Stay safe and secure! You can download the full report to read by clicking here. 

Contact us to learn more: 📞 0141 488 1533 | 📧 [email protected]