Companies Are Confident in Their Cybersecurity Actions, Yet Attacks Remain Alarmingly High

Safety concept: Closed Padlock on digital backgroundAt a time when it seems like cyberattacks are being reported almost daily, a number of security executives are confident in their cybersecurity initiatives. This is according to a recent report, Building Confidence: Facing the Cybersecurity Conundrum, which shows there's clearly a disconnect between companies' perceptions and reality.

The report surveyed 2,000 security executives at large, global enterprises across 12 industries and 15 countries. On average, an organization faces over a hundred focused, targeted breach attempts each year, with one in three attempts being successful.

Yet, 75% of survey respondents said they were confident they were doing the right things with their security strategies. A similar number said security is completely embedded in their cultures, with support from the highest-level executives.

Part of the problem is the time taken to detect a breach. Fifty-one percent of respondents said it takes months to detect successful breaches, while another 17 percent said it takes within a year or longer.

Other key findings of the study include:

  • Internal security teams discover only 65% of the effective breaches, with employees, law enforcement, and ethical hackers finding most of the rest.
  • Ninety-eight percent of breaches not detected by the security team are discovered by employees.
  • More than 50% of respondents said internal breaches made by malicious insiders have the greatest security impact, yet most continue to focus on external security issues.

The results of this and other studies show that many companies are not taking the right approach to cybersecurity. Malicious hackers are becoming increasingly sophisticated, and attacks can happen to anyone, making it more crucial than ever to implement the right strategy and be proactive in mitigating the risks of a breach.

Dr. Eric Cole is a leading cybersecurity expert and key note speaker who can educate your organization on cybersecurity and help you curtail your risks. Dr. Cole delivers invaluable knowledge and real-world strategies you can immediately apply to your organization, all in an engaging presentation. Contact Dr. Cole today to book him for a lecture or event.

 

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