According to a study published by the Ponemon Institute, most senior IT experts believe that their organization is very likely to encounter a catastrophic data breach that would seriously affect shareholders’ interests.
Enterprise executives do not pay enough attention to network security
Despite the growing security threats, cybersecurity issues have not received the attention of senior leadership teams.
The main findings of the study include:
* 82% of respondents expect to encounter catastrophic data breaches in their work environment in the next three years due to security vulnerabilities in Internet of Things (IoT) devices.
* 67% of respondents believe that the frequency of network extortion (such as ransomware) and data breaches will increase.
* 60% of respondents expect state-supported cyber attacks against governments and commercial organizations will become more intense and may lead to cyber warfare.
* 46% of respondents believe their cybersecurity strategy will improve, which is lower than 59% in 2015.
* 60% of respondents expect their companies to take on more strict regulatory compliance and the costs of responding to litigation and legal matters.
Despite the growing concerns about the high-complexity and long-term cyber threats, only 36% of respondents believe that the top leaders of their organizations will see the network as a strategic priority.
68% of CISO/IT executives said that their organization’s board of directors did not hear any briefings related to preventing or mitigating the consequences of cyber attacks, and also considered that the senior leadership team treated the cybersecurity strategy in an insignificant manner.
Has network security become a strategic priority?
The Chairman and CEO of Raytheon, said, “I hope that CISO (Chief Information Security Officer) and senior leaders can fully leverage the instrumental role of this report, based on the criticality of the organization’s network security level. In-depth dialogue on demand. Cyber threats are becoming more complex and proactive, and have created real risks for practitioners across industries around the world. To reduce this risk, senior leaders must work hard to collaborate with their IT teams to identify potential vulnerabilities. Develop an action plan and invest in protecting all types of valuable assets within the organization.”
The 4 indicators for the prediction of technology and practice are:
*The United States and other countries will implement privacy and data security regulations similar to the European Union’s General Data Protection Regulations (GDPR)
*Organizations will increase the use of big data analytics to support cyber defense capabilities
*Threat intelligence sharing will be a valuable tool in organization’s security portfolio
*Organizations will further rely on managed service providers to help improve their safety
The founder and board of the Ponemon Institute, pointed out that “the top intelligence officers at the national level are actively discussing issues related to cybersecurity resiliency, but business leaders still fail to make cybersecurity a priority in the enterprise. This important study suggests that managers urgently need to adjust their thinking in a targeted manner to ensure that their organizations are properly responding to upcoming cyber threats.”
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