News

Reports: Cybersecurity Risks and Strategies

January 11, 2018
Categories: Cybersecurity

The frequency, power and disruptiveness of cyberattacks continue to increase globally yet organizations remain unprepared, according to a new PwC report, The Global State of Information Security Survey 2018. The report also notes that large data breaches are raising concerns about how cyberattacks will ripple throughout economies and result in lasting impacts.

Key takeaways from this survey include:

  • 44% of the 9,500 executives in 122 countries surveyed by the 2018 GSISS say they do not have an overall information security strategy.
  • 48% say they do not have an employee security awareness training program, and 54% say they do not have an incident response process.

Business leaders, according to the survey, are not being served well by the prevailing cybersecurity commentaries which are either exaggerated or treat cyber threats as routine.

The United Nations International Telecommunication Union wrote in its 2017 Global Cybersecurity Index report that global interconnectivity could expose “anything and everything” to cyber risks. Furthermore, the UN found that:

  • Only 38% of member states have a published cybersecurity strategy
  • Only 11% have a dedicated standalone strategy
  • Only 12% have a cybersecurity strategy in development.
  • 61% of member states have an emergency response team with national responsibility
  • 21% of states publish metrics on cybersecurity incidents.

The survey notes that the number of private sector organizations surveyed possessing a cybersecurity strategy is particularly high in Japan – at 72 percent – where cyberattacks are seen as a leading national security threat.

The frequency and damage of cyberattacks will continue to increase and it will remain important for organizations to understand the value of a cybersecurity strategy. Additionally, an organization’s preparedness does not decrease the level of risk it faces. The survey makes several recommendations ranging from engaging boards on cybersecurity, to using lessons learned and pursuing resilience as a path to stronger long-term economic performance.

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