If it were a foot race, cyber criminals would win.
The number of cybercrimes is increasing at an astonishing rate, yet many organizations are dragging their feet when it comes to defending their business against cyber attacks.
According to a recent report by Ernst & Young (EY), Get ahead of cybercrime: EY’s Global Information Security Survey 2014, there are generally 3 roadblocks that keep companies from being ready to deal with a cyber attack efficiently and appropriately: lack of agility, budget, and skills.
3 cybersecurity roadblocks
Lack of agility
Survey respondents are well aware of current vulnerabilities in their systems, but they are not moving fast enough to effectively deal with those weaknesses.
- 37% have no real-time insight on cyber risks
- 27% say such insight is available only “sometimes”
- 38% cite “careless or unaware” employees as a top risk factor
- 35% list outdated information security controls or architecture as their top priority
Lack of budget
This is one of the most challenging roadblocks for organizations. Despite the increasing risk of cyber threats, cybersecurity budgets remain flat in many businesses. Although cybercrime is gaining more attention in the media and in corporate boardrooms, that interest in not translating into more money dedicated to addressing the problem.
- 43% of respondents say their organization’s total information security budget will remain about the same in the next 12 months
- 5% say their budget will actually decrease
Lack of skills
It appears cyber criminals have the upper hand when it comes to cybersecurity skills. Even as cyber criminals become more advanced and sophisticated in their attacks, the lack of specialists in the corporate world is putting a serious strain on security.
- 53% of organizations say the lack of skilled resources is one of the main cybercrime obstacles
- Only 5% of respondents have a threat intelligence team with dedicated analysts and advisors to evaluate information and expose ongoing security threats
These roadblocks continue to slow organizations down while cyber criminals are quickening their pace. It may seem like businesses are losing the cybersecurity race.
So how can you get ahead of cybercrime? Read Fighting Cybercrime: The 3 A’s Of Readiness.
Cybersecurity is no longer just the CIO’s domain. Find out Today’s #1 Cybercrime Fighter (It’s Not Who You Think).
To learn more about preparing for cyber attacks:
- Read the full report: “Get ahead of cybercrime: EY’s Global Information Security Survey 2014”
- View the video: “Experiencing a new normal”
- See the infographic with some cybercrime stats
This information was based on EY’s Global Information Security Survey 2014, “Get ahead of cybercrime” (Ernst & Young Copyright ©2014).
For more information about cyber security and digital transformation, download the SAP eBook, Digital Disruption: How Digital Technology is Transforming Our World.
For a detailed look at how the digital age is affecting business, download the SAP eBook, The Digital Economy: Reinventing the Business World.