BakerHostetler’s 2025 Data Security Incident Response Report reveals significant trends in data security for 2024. The report, based on their involvement in 1,250 cases, highlights a decline in ransomware attacks. Successful ransomware incidents have become less frequent, with faster recovery times and lower payment demands. These improvements are attributed to better security measures and response strategies implemented by companies.
Forensic investigation costs also saw a notable drop, falling by 30% from the previous year. The average cost of investigating the largest network intrusions decreased from $550,000 to $273,000 in two years. This shift reflects a growing efficiency in handling data security breaches and reducing the financial burden of investigations. The decrease in costs, along with fewer malware incidents, underscores the evolution of security practices within organizations.
One significant finding is the increased prevalence of compromised credentials in cyberattacks, replacing traditional malware. As a result, identity access management and access controls have become even more critical in preventing data breaches. The report also noted a slight decrease in the frequency of post-breach class action filings, indicating improvements in breach management and legal responses compared to previous years.
Wire fraud also saw a sharp rise, with fraudulent transfers growing by over 300% from $35 million in 2023 to $109 million in 2024. The average fraudulent transfer was over $1 million, highlighting a new area of concern for organizations. Healthcare continued to be the most targeted industry, accounting for 36% of all incidents tracked by BakerHostetler, reflecting ongoing security challenges within the sector.
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