EY: 87% executives lack confidence in cyber security level
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E-mail China.org.cn, April 19, 2017
Eighty-seven percent of the interviewed board members and executives said that they lack confidence in their companies' level of cyber security, according to the 19th Global Information Security Survey 2016-17, a report released by EY in Beijing yesterday.
Nearly half (48%) of the interviewees said the far-lagged-behind cyber security management in their organizations becomes a vulnerable area for attackers, 64 percent of the respondents do not have, or only have an informal, threat intelligence program and, 62% would not increase their cyber security spending after experiencing a breach which did not appear to do any harm.
The report, with the theme of "Path to cyber resilience: Sense, resist, react," explores the challenges and measures for organizations in cyber security defense. For the report, EY, a global leader in assurance, tax, transaction and advisory services, conducted a survey among 1,735 leaders and information security and IT executives/managers, from 72 countries across all major industries, from June to August of 2016.
Organizations have learned over decades to defend themselves and respond better, yet because of the changing threat landscape, cyber threats also pick up their speed despite corporate security upgrades, said Keith Yuen, EY China Advisory partner yesterday.
Actively defending against cyber attacks is the only way to get ahead of cyber criminals and gain the trust of customers, said Yuen.
The report suggests three steps to achieve cyber resilience: sense, resist and react (sharpen awareness of cyber attacks, upgrade resistance and react better).
Yuen said China needs more cyber security talents as more traditional Chinese enterprises are transforming in the Internet Plus campaign and more Chinese enterprise are expanding business overseas where they will have to meet local cyber security requirement.
Cyber security is a core critical element necessary for the organization to survive and be sustainable in the future.
Yet Cyber security is not merely a technology issue and shouldn't remain just in the IT domain, added Yuen. It is the responsibility of every employee of the company, as the report shows careless or unaware employees, malware and unauthorized access ranked the top three vulnerabilities and threats that have most increased risk exposure over the last 12 months.
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