VMware, Inc. released the results of its third Canada-focused cybersecurity threat report, entitled, “Extended Enterprise Under Threat,” based on a survey of 251 Canadian CIOs, CTOs and CISOs.
The research found an increased in both cyberattack volume and breaches during the past 12 months in Canada. This has prompted increased investment in cyber defense, with Canadian businesses using an average of more than nine different cybersecurity tools, the survey found.
Data for the report was compiled in March and April 2020 by an independent research company, Opinion Matters, on behalf of VMware Carbon Black.
Key survey findings from Canadian respondents:
- 99% said attack volume has increased during the past 12 months, the survey found.
- 100% said their business has suffered a security breach in the last 12 months. The average organization said they experienced 1.1 breaches during this time, the survey found.
- 86% said attacks have become more sophisticated, the survey found.
- 98% said they plan to increase cyber defense spending in the coming year, according to the survey
- Web application attacks and OS vulnerabilities were the leading cause of breaches, according to the survey, followed by third party application attacks.
- Canadian companies said they are using an average of 9 different security technologies to manage their security programme, the survey found.
Supply chain risk in Canada
Despite only being cited by 2% of respondents as the most common attack type experienced, island-hopping was the cause of 10% of breaches, the survey found, as the attack vectors in the supply chain prove an easy target for hackers. Third-Party application attacks were also high as a breach cause, at the root of 13% according to those surveyed.
Rick McElroy, Cyber Security Strategist at VMware Carbon Black, said: “Island-hopping is having an increasing breach impact with 10% of survey respondents citing it as the main cause. In combination with other third-party risks such as third-party apps and the supply chain, it’s clear the extended enterprise is under pressure.”
Complex multi-technology environments
Canadian cybersecurity professionals said they are using an average of more than nine different tools or consoles to manage their cyber defense program, the survey found. This indicates a security environment that has evolved reactively as security tools have been adopted to tackle emerging threats.
Said McElroy: “Siloed, hard-to-manage environments hand the advantage to attackers from the start. Evidence shows that attackers have the upper hand when security is not an intrinsic feature of the environment. As the cyber threat landscape reaches saturation, it is time for rationalization, strategic thinking and clarity over security deployment.”
Supplemental COVID-19 survey Key findings from the supplemental COVID-19-focused survey:
The latest research was supplemented with a survey on the impact COVID-19 has had on the attack landscape1. According to the supplemental survey of more than 1,000 respondents from the US, UK, Singapore and Italy, 91% of cybersecurity professionals said attack volumes have increased as more employees work from home.92% said their organizations have experienced cyberattacks linked to COVID-19 malware.
- 92% said they have been targeted by COVID-19-related malware; 89% said IoT exposure risk has increased.
- Inability to institute multifactor authentication (MFA) was reported as the biggest security threat to businesses during COVID-19, the survey found.
- 84% reported gaps in disaster planning around communications with external parties including customers, prospects, and partners. 48% said those gaps were significant.
Said McElroy: “The global situation with COVID-19 has put the spotlight on business resilience and disaster recovery planning. Those organizations that have delayed implementing multi-factor authentication appear to be facing challenges, as 29% of global respondents say the inability to implement MFA is the biggest threat to business resilience they are facing right now.”
Survey respondents were asked whether COVID-19 had exposed gaps in their disaster recovery plans, and to indicate the severity of those gaps. Their responses showed that:
- 88% of respondents reported gaps in recovery planning, ranging from slight to severe.
- 87% said they had uncovered gaps in IT operations.
- 85% said they encountered problems around enabling a remote workforce.
- 78% said they’ve experienced challenges communicating with employees
- 84% said they had experienced difficulty communicating with external parties.
- 70% said the situation uncovered gaps around visibility into cybersecurity threats.
Said McElroy: “These figures indicate that the surveyed CISOs may be facing difficulty in a number of areas when answering the demands placed on them by the COVID-19 situation.”
Risks directly related to COVID-19 have also quickly emerged, the survey found. In addition to the 92% of respondents who said they experienced an increase in COVID-19-related malware, 89% reported increased IoT exposure, 89% said they had witnessed increased phishing attacks, and 88% had seen more attempts at spear phishing since COVID-19 began.
Said McElroy: “The 2020 survey results suggest that security teams must be working in tandem with business leaders to shift the balance of power from attackers to defenders. We must also collaborate with IT teams and work to remove the complexity that’s weighing down the current model. By building security intrinsically into the fabric of the enterprise – across applications, clouds and devices – teams can significantly reduce the attack surface, gain greater visibility into threats, and understand where security vulnerabilities exist.”
