A new survey reveals some of the biggest challenges organizations face when implementing an effective cyber/IT risk management program. Among those challenges, 49% of respondents say an increase in the quantity of cyber threats and 49% say increase in the severity of cyber threats.
The Cyber Risk Viewpoints Survey, released last week by RiskOptics, reveals that while those working in information security (InfoSec) and governance, risk and compliance (GRC) have high levels of confidence in their cyber/IT risk management systems, persistent problems may make them less effective than perceived. Other top challenges included a lack of funding (37%) and a lack of staffing/cyber risk talent (36%). The report also found that general misunderstandings in common cyber risk terminology could be a deterrent in developing effective strategies and communicating risk to company leadership.