Why You Should Read Kiteworks 2024 Industry Risk Score Report?
Kiteworks 2024 Industry Risk Score Report offers a detailed analysis of cybersecurity risks across key industries. It provides benchmarks for evaluating your organization’s security posture and identifies emerging threats based on in-depth insights on rising data compromises, victim counts, and evolving cyber threats across industries.
Kiteworks Risk Score
What Is the Kiteworks 2024 Risk Score and Why Is It Important?
The Kiteworks Risk Score is a standardized cybersecurity risk assessment score, built with the help of artificial intelligence (AI), that is designed to help organizations measure and compare their risk levels across industries.
Why the Kiteworks Risk Score Is Important?
Developed with the help of AI, the Risk Score offers unique insights, allowing companies to benchmark their security postures, identify vulnerabilities, and develop strategic plans for mitigating cyber threats.
Why the Kiteworks Risk Score Is Valuable?
Unlike other cyber-risk measurement tools, the Kiteworks Risk Score provides a comprehensive view across multiple risk factors including data breaches, victim counts, and breach severity.
Key Findings From the 2024 Industry Risk Score Report
Overall Increase in Cybersecurity Risk
The average Risk Score across industries rose by 21.7% from 2022 to 2023, driven by rising threats in sectors such as financial services and hospitality.
Government
Government institutions saw a 97.5% increase in Risk Score between 2019 and 2023, underscoring rapidly growing cyber threats.
Financial Services
The financial services sector recorded the highest Risk Score at 8.5 in 2023, indicating increased vulnerabilities.
Hospitality
Hospitality showed the steepest rise, with the Risk Score jumping to 10.0 in 1H 2024, highlighting increased vulnerabilities in guest and payment systems.
Manufacturing
Manufacturing saw its Risk Score more than double, signaling new cybersecurity challenges.
Strengthen Your Cybersecurity With the Risk Score
1. Cyber Threat Escalation
There is an alarming increase in cyber threats across all industries, driven by sophisticated tactics such as supply chain vulnerabilities, ransomware, and human error. Organizations across sectors are witnessing a surge in attack frequency, highlighting the critical need for adopting proactive cybersecurity measures. With average Risk Scores rising by 21.7% from 2022 to 2023, the urgency to implement defensive strategies has never been higher.
2. Third-party Vendor Risk
A significant portion of the risk highlighted in this year’s report stems from third-party vendors and the broader software supply chain. For example, 40% of healthcare breaches in 2023 were linked to third-party service providers. As industries rely more on external vendors, the Risk Score reveals that weak links in the supply chain are now a critical threat vector for industries such as finance, healthcare, and government.
3. Industry-specific Actions
The report provides tailored action steps for each sector, from improving third-party security protocols to enhancing internal risk assessments. Industries such as manufacturing, which experienced a 132% increase in Risk Scores, are encouraged to focus on securing their supply chains and adopting stringent vendor management practices. Meanwhile, sectors like financial services, facing escalating threats from sophisticated attacks, must prioritize advanced risk monitoring and enhance compliance frameworks.
Why Proactive Cybersecurity Measures Are Critical in 2024
With cyber threats becoming more sophisticated, it is crucial for organizations to adopt proactive measures. The 2024 Risk Score highlights the need for improved vendor risk management, enhanced data protection strategies, and the use of predictive risk models to anticipate threats.
Organizations should invest in AI-driven threat detection and predictive models to stay ahead of cybercriminals
Strengthen third-party vendor relationships with rigorous risk assessments
Benchmark your security posture against industry peers using the Kiteworks Risk Score
Get the Complete Kiteworks 2024 Industry Risk Score Report
Access the full report to dive deeper into industry-specific findings, actionable insights, and strategies to improve your organization’s cybersecurity posture. Learn how to benchmark your security efforts and address the most pressing cyber threats of 2024.
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Kiteworks Industry Risk Score Reveals Heightened Risk in 2024 Across Many Industries
San Mateo, October 10, 2024, Kiteworks, the leader in sensitive content communications privacy and compliance through its Private Content Network, today Kiteworks, today released its “2024 Industry Risk Score Report,” which is built on industry data and developed with human-guided.