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With all the news headlines about breaches over the course of the last year, it might seem as though just about every company has been breached. As it turns out, that is not far from the truth. According to new QuinStreet research, a whopping 76 percent of organizations experienced some form of breach in the last year.
Those breaches have an impact on the organizations involved, including potential revenue losses. Another financial impact is increased security spending, with 44 percent of respondents to the QuinStreet study indicating that security budgets grew after a breach incident.
Looking specifically at where new security spend is going, organizations use increased funding to buy additional security technologies and to establish and update security best practices.
For organizations of less than 100 employees, only 34 percent of organizations reported a spending increase post-breach. In contrast, 54 percent of organizations of a thousand or more employees said they would increase security spending following a breach.
Top Security Risks
In terms of security risk perception, the study found that password compromise was identified as a leading risk. For organizations with over 1,000 employees, password compromise was rated as a leading risk by 83 percent of respondents.
Distributed denial of service (DDoS) is also a top concern, with 71 percent of respondents from organizations with 1,000 or more employees rating it as a security risk. The risk of DDoS is not seen in the same light by smaller organizations. Only 50 percent of organizations with less than 100 employees rated DDoS as a top concern.
You can read the full report here.
Additionally QuinStreet Enterprise will host a live Google Hangout on May 7 during which a panel of experts will discuss the report and the latest trends in IT security. Join us!
Sean Michael Kerner is a senior editor at eSecurityPlanet and InternetNews.com. Follow him on Twitter @TechJournalist.