In a global study of more than 2,200 organizations across 22 different countries, NTT Security's 2019 Risk:Value research found that cyberattacks (43%), data loss or theft (37%), and attacks on critical infrastructure (35%) — aimed particularly at telecoms and energy networks — concern respondents the most. The survey respondents figured these threats would present a greater risk to their organization over the next 12 months than trade barriers and other critical global issues such as the environment, terrorism, and government failures.
Fortunately, corporate awareness of the need for beefed-up cybersecurity is growing. Eighty-four percent and 85% of businesses, respectively, said that strong information security and protecting data integrity were just as important as business continuity, and even more important than revenue growth. Nine in 10 respondents said strong cybersecurity would be a boon for their organization.
Cybersecurity Policies and Incident Response Plans MissingHowever, many organizations are having a hard time maintaining even basic levels of security. Only 58% have a formal security policy, but only 48% of those say their employees know what's in it, meaning that just 28% of companies have security policies that are broadly understood by their employees. They also fall short in incident response planning, which maps out what stakeholders must do in the event of a security incident. Just 52% of the respondents have such a plan. While this is 3% higher than in 2018, only 57% of the respondents from companies with a policy actually know what's in it. The potential ramifications are clear: If they were hit by a successful cyberattack, the organizations unfamiliar with their own plans would struggle to handle the incident, and, if they managed to muddle through it, would take longer to recover.
Despite Increasing Risks, Secu ..
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