In the last year, 70% of organizations were targeted with BEC attacks

A report by Arctic Wolf shows that business email compromise (BEC) incidents are a common occurrence, as 70% of organizations experienced an attempted attack in the last year. 29% of these organizations became victims of one or more successful BEC attacks.

The report also discussed ransomware. 45% of the respondents state that their organization experienced a ransomware incident in the last 12 months, with 86% of those incidents involving successful data exfiltration. 

Among organizations that experienced a breach in the last year, 66% publicly disclosed the incident whereas 30% only informed involved parties. Other key findings from the report include: 

• Cyber insurance adoption is widespread, with 66% of organizations possessing an active policy. 29% are either in the process of obtaining a policy or intend to obtain one within the year, and only 5% are deciding against obtaining a policy. 
• 94% of organizations currently have or intend to have a usage policy on generative AI and large language models (LLM) tools.