Almost three in five large businesses have increased cybersecurity
spending because of the threat to their business, according to a major
new global survey.
PwC’s 2017 Global State of Information Security Report, which
surveyed 10,000 participants in 133 countries, found that 59% of
respondents said they have increased cybersecurity spending as a result
of digitization of their business ecosystem.
It found that more than two out of five large businesses were subject
to so-called phishing scams, where criminals try to obtain sensitive
information such as usernames, passwords, credit card details and even
money.
The majority of organizations around the world -- 63% of survey
respondents -- say they run IT services in the cloud. Additionally,
approximately one-third of organizations were found to entrust finance
and operations to cloud providers, reflecting the growing trust in cloud
models.
The report found 56% of respondents currently require employees to
complete privacy training, that 57% of businesses are turning to
advanced authentication technologies to add an extra layer of security
and improve trust among customers, and over half (57%) are using
biometrics for authentication.
Organisations are beginning to update their cybersecurity safeguards,
with 46% of respondents investing in a security strategy for the
Internet of Things. Phishing is the most-cited vector of cybersecurity
incidents this year, with 43% of large businesses reporting phishing
incidents.
Pat Moran, PwC Ireland Cybersecurity Leader, said: “From my
experience of working with clients in Ireland, the global survey
findings are very relevant and are very well aligned. Clients are
investing in security to provide them with a competitive advantage. I
see more confidence from clients in leveraging from cloud based
technologies to identify cyber threats.”
He said business leaders understood cybersecurity was a vital component to remain competitive.
“Organisations must make a budgetary commitment to the integration of
cybersecurity with digitisation from the outset,” he added.c. Read More...