With cybersecurity at the forefront of business, especially after last year’s spectacular ransomware attacks, CTOs are taking a multi-pronged approach to protecting their business. Just over 87% of respondents to the STX Nexts 2021 Global CTO Survey, which surveyed 500 global CTOs about the biggest challenges their organization faces, say they have implemented multifactor authentication (MFA) in their organization, and nearly 83% says the same for identity and access control. Single sign-on (SSO) is also popular, having been used by about 74%. These results are consistent with the Dark Readings 2021 Strategic Security Survey, where 69% of respondents said the MFA was an effective cyber security measure.
What is surprising is that almost half (46.8%) of CTOs admit that their company has no specific ransomware protection at all and that only 10% claim to implement ransomware protection everywhere. Only safety information and incident management were more overlooked, with less than 4% implementing it everywhere and almost 60% not using the monitoring and analysis technique at all.
Privileged Access Management (PAM) combines techniques, including MFA and SSO, to create additional security around accounts that require powerful permissions, because if such accounts are compromised, the uninvited guest can gain unhindered access to the network. It has similar adoption numbers as ransomware protection: Only about 10% of respondents implement PAM everywhere, and about 17% use PAM in most cases. But only 40% do not admit to using PAM at all.
The data suggest that organizations rely on recovery after attack rather than engaging in more aggressive prevention measures: 92% of companies have at least some disaster recovery capabilities in the form of automated backups, with over 34% saying they have universal backups. Business continuity tools are also popular, with around 75% of companies implementing them in at least some places.
Download the report from STX Next.