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US government financial losses in data breach

A report from Infoblox reveals that nearly 300 US federal, state and local government IT decision-makers see dangers ahead as teams continue remote work into 2021

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US government financial losses in data breach

Today, Infoblox Inc., the Secure Cloud-Managed Network Services leader, unveils new research into the foundational infrastructure challenges faced by networking and security decision-makers in the US government. The report reveals a disruptive year of workforce transformation forced by the COVID-19 shutdowns during which respondents also handled expensive fallouts from network outages and data breaches.

Based on 294 responses from federal, state and local government IT decision-makers, key survey findings include:

  • Cybersecurity breaches inflict multi-million dollar pain on government organizations: 81% of respondents estimated data breaches had cost their organizations at least $1 million.
  • The majority of network outages exceeds $1 million in damages: 60% of networking outages cost at least $1 million in operational disruptions, reputational damage, lost data, and financial losses.
  • Networking and security challenges are inter-connected: 40% said preventing network outages was their top cybersecurity challenge, edging out the hiring and retention of qualified IT staff and securing cloud application data (38% each). Respondents rated network monitoring (73%) and threat intelligence (66%) as the most effective technologies for mitigating these challenges.
  • Cloud networking attacks are rising: 84% of respondents experienced one or more cloud networking attacks in the last 12 months.
  • As cyber-attacks escalate, security budgets continue to grow: 67% of respondents’ budgets grew from 2019 to 2020, and 73% estimate an increase from 2020 to 2021.

Respondents also indicated that the costs of network outages extend far beyond direct financial damages. They cited concerns over lost productivity, reputational damage, loss of intellectual property, breach notification processing, and legal ramifications as unpleasant consequences to prevent.

Allen McNaughton, Director of Sales Engineering, Infoblox Public Sector
Allen McNaughton, Director of Sales Engineering, Infoblox Public Sector

“The COVID-19 shutdowns strained government IT resources as teams were time-pressed to secure remote workers while building out the infrastructure,” says Allen McNaughton, Director of Sales Engineering, Infoblox Public Sector. “As the cascading SolarWinds breach reminds us, the US government faces well-resourced attackers capable of finding and exploiting unexpected gaps. Government IT teams have the tough job of building out cloud infrastructure while defending it and legacy systems, which raises the stakes.”

“Fortunately, government IT teams are prioritizing network visibility and security investments to address their areas of top concern directly,” notes McNaughton. “This correlates with demand for our core networking and security services, which has grown substantially year-over-year. Infoblox securely extends a customer’s network into the cloud, and sources DNS traffic insights that BloxOne Threat Defense uses along with other threat intelligence feeds and mitigation tools to provide defence-in-depth for on-premises and remote systems.”

Download the report here.

[email protected]

1 Comment
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