The FBI published their 2021 Internet Crime Report with data from the FBI’s Internet Crime Complaint Center (IC3). This report shows that Business Email Compromise (BEC) / Email Account Compromise (EAC) attacks far exceed the volume and losses of Ransomware attacks. Organizations need to be prepared and know who they are going to call when they experience BEC/EAC, as well as ransomware, or other high-severity incidents.

Egnyte’s recent independent cybersecurity study found that only 64% of organizations had incident response plans. Without such plans, companies are extremely susceptible to potential cyber-attacks, and the stark business reality is that they take much longer to recover. Unfortunately, there are daily examples of major data breaches where a particular company’s incident response could have been managed more effectively.