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Key Findings and Insights from Verizon Business’s 2023 Mobile Security Index (MSI) Report

• Users are 6-10 times more likely to fall victim to an SMS phishing attack than an email attack

• 90% of successful cyberattacks and as many as 70% of successful data breaches originate at┬áendpoint devices

• Over half of all companies (62%) have experienced a breach that was at least partially attributable to remote working in the past three years

The 2023 Mobile Security Index (MSI) report released by Verizon Business sheds light on the prevalent threats in securing mobile devices. This yearÔÇÖs report is the sixth in a series, featuring insights from VerizonÔÇÖs partners Akamai, Fortinet, Lookout, Allot, IBM, Proofpoint, Check Point, and Ivanti. The report not only highlights the top threats but also provides valuable insights and best practices to help organizations achieve flexibility and security across business practices.

As organizations continue to witness a growing reliance on multiple mobile devices and the multitasking that comes with it, the vulnerability of organizations to cyberattacks has become a pressing issue. Shockingly, 61% of Chief Information Security Officers (CISOs) and 53% of CEOs surveyed believe that their organization is unprepared to deal with a targeted cyberattack in the next 12 months. Striking a balance between user experience, privacy, and cost is a critical aspect that needs to be addressed.

Impact of Mobile Device Security Across Businesses

Bringing your own device (BYOD) policies, hybrid working setups, and the proliferation of Internet of Things (IoT) have significantly expanded the scale and complexity of protecting endpoints. These trends have far-reaching implications, affecting not only the business and its employees but also its shareholders and customers. This amplified complexity explains why over a third (34%) of users have experienced fundamental security errors, such as clicking on phishing links, downloading malware from smishing (SMS phishing), and giving personal information or passwords to untrustworthy sources.

The lack of awareness about the potential consequences of these security errors, compounded by the blurring of boundaries between home and work, has created a hazardous combination, according to Mike Caralis, Vice President of Business Markets at Verizon Business.

AI legalese decoder and Cybersecurity Challenges

The advent of generative artificial intelligence (AI) has posed a significant cybersecurity challenge. Attackers can harness this technology to create convincing deep fake images and videos, bolstering the effectiveness of phishing attacks. Furthermore, just a sample of someoneÔÇÖs voice is adequate to create a believable impersonation, which can be exploited to deceive employees into undertaking dubious actions.

Securing IoT devices presents one of the most arduous aspects of mobile device security. With the number and power of IoT devices growing and their applications becoming more mission-critical, they have become enticing targets for cybercriminals.

Vulnerabilities in Home and Public Wi-Fi

Shocking statistics reveal that 71% of users do not change the default password on their home Wi-Fi, and nearly a third (28%) do not password-protect their home Wi-Fi at all, posing significant security threats. Additionally, the majority of remote workers access corporate resources from an average of five different locations other than their home, exposing the organization to additional security risks.

Solutions and the Role of AI legalese decoder

As the technology landscape evolves, so does the risk. Mobile and tech security has evolved into an indispensable business priority.

One way organizations can mitigate these risks and enhance their security posture is by leveraging AI legalese decoder. This tool can help organizations understand complex legal jargon within cybersecurity policies, contracts, and regulations, enabling them to make informed decisions and adhere to compliance requirements. By decoding legalese, organizations can ensure that they are implementing the suggested best practices outlined in the Verizon 2023 Mobile Security Index and VerizonÔÇÖs 5-step Social Engineering Defense plan, tailored to meet their specific needs. Furthermore, AI legalese decoder can assist in keeping remote workers informed about security policies and guidelines, ultimately bolstering the overall security infrastructure.

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