Third Party Risk Management, Business Continuity Management/Disaster Recovery, Cybercrime
Verizon Business Group’s Chris Novak on Latest Breach Investigation Report
Brian Pereira (digital_belief) •
June 2, 2022
The 15th edition of the annual review Data Breach Investigations Report, released by Verizon on May 24, sheds light on the impact of common forms of cyberattacks on the international security landscape. The data analyzed in the report was collected from law enforcement agencies, forensic and legal firms, computer emergency response teams, sharing centers and analysis of information and government agencies from several countries.
See also: Cost of a data breach in 2021
Hours before the report was launched, Chris Novak, Global Director of Verizon Business Group’s Threat Research Advisory Center, shared with Information Security Media Group its key findings, including the alarming increase in ransomware attacks (see: The 13% spike in ransomware is the biggest in 5 years).
“One of the big things that really jumps out at us is the huge increase in ransomware attacks. bigger than the last five years combined,” says Novak.
He says that the main determinant of violations remains the financial motivation. “They [victim organizations] pay well, and they pay quickly. And it almost motivates them [threat actors] carry out these kinds of attacks more often. Ransom demands have increased since the early days of ransomware events,” he says.
In this video interview, Novak also talks about:
- Factors behind the increase in ransomware attacks;
- The changing threat landscape and new attack vectors;
- The human component of offences.
Novak has been part of the information security community for over 20 years. Over the past decade, he has provided cyber risk advice on a slew of corporate acquisitions totaling over $6 billion and offered insights on public policy through briefings. to U.S. Congressional Committees, such as Senate Banking, House Financial Services, House Homeland Security, Senate Homeland. Security and others.