APAC sees 38% on-year rise in data breaches due to system intrusions in 2024: Verizon Business
NEW DELHI: The Asia Pacific region recorded a 38% year-on-year rise in
data breaches
in 2024, resulting from
system intrusions
, according to the latest report released by
Verizon Business
on Wednesday.
Collectively, 97% of APAC breaches were caused by just three tactics – system intrusion, social engineering, and basic web application attacks, highlighting the region's increasingly concentrated cyber threat landscape.
'In the Asia-Pacific region, external actors are targeting critical infrastructure and exploiting third-party vulnerabilities. The rising incidence of breaches highlights the imperative for businesses to reassess their risk frameworks, said Robert Le Busque, regional vice president (Asia Pacific), Verizon Business.
As per the findings, malware in data breaches in APAC jumped significantly, from 58% in 2024 to 83% this year (till now), with email being the key vector for distributing various malware. This is followed by ransomware, which now accounts for 51% of the total breaches in the region, while social engineering now accounts for only 20% of the total breaches.
The findings are based on an analysis of over 22,000 security incidents, including 12,195 confirmed data breaches spanning 139 countries, according to Verizon Business.
With the median ransom payment to cybercriminals last year being $115,000, this is a significant amount for many small and medium businesses (SMBs), as per the company.
It added that a proactive and comprehensive
cybersecurity strategy
can help businesses safeguard their assets, protect their customers, and ensure their long-term success in an increasingly digital world.
'Glass-half-full types can celebrate the rise in the number of victim organisations that did not pay ransoms, with 64% not paying versus 50% two years ago. The glass-half-empty personas will see in the DBIR (Data Breach Investigations Report) that organisations that don't have the proper IT and cybersecurity maturity, often the SMB sized organizations, are paying the price for their size with ransomware being present in 88% of breaches,' said Craig Robinson, research vice president (security services), IDC.
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