Morning Business Report: Verizon report warns of escalating global threat

A new report from Verizon paints a troubling picture of the global cybersecurity landscape, with cyberattacks increasing at an alarming rate.

(LILAMAX)-A new report from Verizon paints a troubling picture of the global cybersecurity landscape, with cyberattacks increasing at an alarming rate. The company’s latest findings show a dramatic rise in third-party involvement and vulnerability exploitation, presenting serious concerns for businesses and individuals alike.

According to the report, the percentage of breaches involving third parties has doubled to 30%, while the exploitation of known vulnerabilities has jumped by 34%. These trends, experts warn, highlight growing risks within supply chains and partner networks — and the urgent need for stronger, more proactive cybersecurity measures.

Verizon’s Vice President of Global Cybersecurity Solutions, Chris Novak, says the findings should serve as a wake-up call. The report analyzed over 22,000 security incidents and emphasizes the importance of a multi-layered approach to protection. That includes implementing strong password policies, prompt patching of vulnerabilities, and comprehensive cybersecurity awareness training for employees.

One of the most concerning findings: ransomware attacks have surged 37% since last year and are now present in 44% of all data breaches. While the median ransom payment has decreased — now sitting at $115,000 — the frequency and scale of attacks continue to climb. Novak underscores the importance of understanding these risks not just at the organizational level, but also for individuals managing personal data.

“The report serves as a wake-up call,” he said. “We’re seeing an evolving threat landscape that demands immediate attention and action.”