BEC attacks targeted 70% of organizations in the past year

An analysis by Arctic Wolf indicates that business email compromise (BEC) incidents are widespread, with 70% of organizations facing attempted attacks in the past year. Of these, 29% fell prey to one or more successful BEC attacks.

The assessment also delves into ransomware. It states that 45% of the respondents faced a ransomware occurrence in the previous 12 months, with 86% of these incidents involving successful data exfiltration.

Of the organizations that encountered a breach within the last year, 66% disclosed the incident publicly, while 30% only informed those affected. Other notable findings from the report are as follows:

• A significant number of organizations, 66%, have active cyber insurance policies. 29% are in the process of obtaining a policy or plan to do so in the next year, while only 5% are opting not to acquire a policy.
• 94% of organizations have, or plan to implement, a usage policy regarding generative AI and large language models (LLM) tools.