Trend Micro in a report said it has detected more than 82 million ransomware threats and more than 3,000 Business Email Compromise (BEC) attempts in the first half of the year.
Forrester says that funds are not properly being allocated to address the threats facing enterprises today despite the rising percentage of security spending in IT budgets.
“Enterprises need to prioritize funds for security upfront, as the cost of a breach is frequently more than a company’s budget can sustain,” said Tony Lee, head of Consulting at Trend Micro.
The WannaCry and Petya ransomware attacks disrupted companies across multiple industries in April and June. The losses from the attack, including the resultant reduction in productivity and cost of damage control, could amount to as much as $4 billion.
BEC scams raised the total of global losses to US$5.3 billion during the first half of 2017, according to the Federal Bureau of Investigation (FBI).
Trend Micro said there was an increase in the number of IoT attacks during January-June. Trend Micro in partnership with Politecnico di Milano (POLIMI) showed it is possible to compromise industrial robots resulting into financial damage and productivity loss.
