Home | Tech | Over one-third of global organizations still lack confidence in their ability to detect sophisticated cyber attacks

Over one-third of global organizations still lack confidence in their ability to detect sophisticated cyber attacks

By
Font size: Decrease font Enlarge font
Over one-third of global organizations still lack confidence in their ability to detect sophisticated cyber attacks

88% of companies don't believe their information security fully meets their organization's needs.

More than one-third (36%) of global organizations still lack confidence in their ability to detect sophisticated cyber attacks, according a survey by professional services firm EY.

The survey of 1,755 organizations from 67 countries examines some of the most important cybersecurity issues facing businesses today and finds that 88% do not believe their information security structure fully meets their organization's needs. When it comes to IT security budgets, 69% say that their budgets should be increased by up to 50% to align their organization's need for protection with its managements' tolerance for risk.

"Businesses should not overlook or underestimate the potential risks of cyber breaches."

The most likely sources of cyber attacks: criminal syndicates (59%), hacktivists (54%) and state-sponsored groups (35%) retained their top rankings. However, compared with last year's survey, respondents rated these sources as more likely: up from 53%, 46%, and 27%, respectively, in 2014.

Ken Allan, Global Cybersecurity Leader, EY, commented on the report: "Organizations are embracing the digital world with enthusiasm, but there must be a corresponding uptick in addressing the increasingly sophisticated cyber threats. Businesses should not overlook or underestimate the potential risks of cyber breaches. Instead, they should develop a laser-like focus on cybersecurity and make the required investments. The only way to make the digital world fully operational and sustainable is to enable organizations to protect themselves and their clients and to create trust in their brand."

Vulnerabilities and threats: a shift in perceptions

The survey found that companies currently feel less vulnerable to attacks arising from unaware employees (44%) and outdated systems (34%); down from 57% and 52%, respectively, in the 2014 Global Information Security Survey (GISS). However, they feel more threatened today by phishing and malware. Forty-four percent of respondents (compared with 39% in 2014) ranked phishing as their top threat; 43% consider malware as their biggest threat versus 34% in 2014.

1 2 »
Join PRESIDENT&CEO on LinkedIn

Subscribe to comments feed Comments (0 posted)

total: | displaying:

Post your comment

  • Bold
  • Italic
  • Underline
  • Quote

Please enter the code you see in the image:

Captcha