72 Percent of Senior Executives Targeted by Cyberattacks in the Last 18 Months

  • Aug 20, 2024

Senior executives are prime targets for cybercriminals, with a staggering 72% of surveyed cybersecurity professionals in the US reporting that this group has been targeted by cyberattacks in the past 18 months. This trend, highlighted in GetApp’s 2024 Executive Cybersecurity Report, underscores the growing sophistication of attacks, including the rising use of AI-generated deepfakes, which have been involved in 27% of the attacks.

Despite the clear and present danger, many organizations are failing to adapt their cybersecurity strategies to protect their top leaders. Over a third (37%) of companies globally do not provide specialized cybersecurity training to their senior executives, leaving a critical gap in their defenses.

"Companies' senior executives hold crucial business data, keeping them in the crosshairs of cybercriminals," says David Jani, senior security analyst at GetApp. "There’s a pressing need for businesses to prioritize specialized cybersecurity training for their leadership teams."

The frequency of attacks is also escalating. 69% of US companies that have previously had attacks report an increase in attacks over the past three years–above the global average of 58%. This uptick coincides with the rise in complexity of attacks. Notably, incidents involving AI-assisted deepfakes and phishing schemes have surged, with senior executives as primary targets.

Over half (54%) of US companies have experienced at least one identity fraud incident affecting a senior executive over the last 18 months, which is 13 points higher than the global average of 41%. Compared to the global average, US senior executives witness significantly higher risks for fraudulent financial transactions as well.

In response to these escalating threats, businesses are encouraged to implement comprehensive cybersecurity strategies that include ongoing training, use of advanced security tools like multi-factor authentication (MFA) and data encryption. Proactive measures, like regularly updating software, monitoring network activity, and preparing for emerging threats like deepfakes, are also vital.

Featured

  • Gaining a Competitive Edge

    Ask most companies about their future technology plans and the answers will most likely include AI. Then ask how they plan to deploy it, and that is where the responses may start to vary. Every company has unique surveillance requirements that are based on market focus, scale, scope, risk tolerance, geographic area and, of course, budget. Those factors all play a role in deciding how to configure a surveillance system, and how to effectively implement technologies like AI. Read Now

  • 6 Ways Security Awareness Training Empowers Human Risk Management

    Organizations are realizing that their greatest vulnerability often comes from within – their own people. Human error remains a significant factor in cybersecurity breaches, making it imperative for organizations to address human risk effectively. As a result, security awareness training (SAT) has emerged as a cornerstone in this endeavor because it offers a multifaceted approach to managing human risk. Read Now

  • The Stage is Set

    The security industry spans the entire globe, with manufacturers, developers and suppliers on every continent (well, almost—sorry, Antarctica). That means when regulations pop up in one area, they often have a ripple effect that impacts the entire supply chain. Recent data privacy regulations like GDPR in Europe and CPRA in California made waves when they first went into effect, forcing businesses to change the way they approach data collection and storage to continue operating in those markets. Even highly specific regulations like the U.S.’s National Defense Authorization Act (NDAA) can have international reverberations – and this growing volume of legislation has continued to affect global supply chains in a variety of different ways. Read Now

  • Access Control Technology

    As we move swiftly toward the end of 2024, the security industry is looking at the trends in play, what might be on the horizon, and how they will impact business opportunities and projections. Read Now

Most   Popular

Featured Cybersecurity

Webinars

New Products

  • Automatic Systems V07

    Automatic Systems V07

    Automatic Systems, an industry-leading manufacturer of pedestrian and vehicle secure entrance control access systems, is pleased to announce the release of its groundbreaking V07 software. The V07 software update is designed specifically to address cybersecurity concerns and will ensure the integrity and confidentiality of Automatic Systems applications. With the new V07 software, updates will be delivered by means of an encrypted file. 3

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis. 3

  • Camden CV-7600 High Security Card Readers

    Camden CV-7600 High Security Card Readers

    Camden Door Controls has relaunched its CV-7600 card readers in response to growing market demand for a more secure alternative to standard proximity credentials that can be easily cloned. CV-7600 readers support MIFARE DESFire EV1 & EV2 encryption technology credentials, making them virtually clone-proof and highly secure. 3