Many organizations are still compromising mobile security in favor of efficiency, according to the third annual Verizon Mobile Security Index.

More than four out of 10 respondents (43 percent) reported that their organization had sacrificed mobile security in the past year and were twice as likely to suffer a compromise in comparison with  those that did not compromise security.

Verizon’s research further found that 39% of those surveyed had a mobile-security-related compromise, with 66% of organizations calling the impact “major,” and 55% saying the compromise had lasting repercussions.

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This year’s Verizon Mobile Security Index 2020 features supplemental vertical reports in key segments including: Financial services; healthcare; manufacturing; public sector; retail and small and medium business. The report also discusses the importance of mobile security in technologies such as cloud and IoT and how the emergence of 5G will impact security.

“In today’s world, mobile connectivity is more important than ever. Organizations of all sizes and in all industries rely on mobile devices to run much of the day to day operations, so mobile security is a priority,” said Bryan Sartin, executive director, global security services with Verizon, in a prepared statement. “The types of devices, diverse applications and further emergence of IoT devices further complicate security. Everyone has to be deliberate and diligent about mobile security to protect themselves and their customers.”

Other survey findings:

  • Five of six (83%) of respondents answered 8 or higher (on a 10-point scale) when asked to rate how crucial mobile is to the smooth running of their business.
  • Forty-three percent of organizations sacrificed security, with the top reasons being time (62%), convenience (52%) and profitability targets (46%).
  • Twenty percent of organizations that suffered a mobile compromise said that a rogue or insecure Wi-Fi hotspot was involved.

The report findings are similar to those of the previous year’s index.

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