According to the research, more than two-thirds (68%) of organisations in the region have had to postpone a digital transformation programme owing to cybersecurity concerns, with 65% saying that they had discontinued such an endeavour entirely.

Effective safeguards, such as brand exploit protection services and DMARC, can help criminals avoid imitating well-known companies and duping their customers. According to Mimecast’s State of Email Security 2021 report.

“When responding to advanced cyber threats, enterprise organizations need to move fast and have all relevant information at their disposal to avoid a devastating breach,” said Matthew Polly, vice president, Worldwide Alliances.

The more popular the brand, the more likely it will be co-opted into cybercriminals’ nefarious plans. Mimecast’s State of Brand Protection report highlights how companies on the Brandz Top 100 Most Valuable Global Brands 2020 index experienced a massive 381% increase in brand impersonation attacks during the two months of May and June 2020 compared to January-February, before the pandemic struck.

“History will look back and declare how well the cybersecurity industry succeeded in putting collaboration above the competition to help protect our organizations and institutions,” said Gorka Sadowski, of the XDR Alliance.