Forty-one percent of investors and analysts are now extremely concerned about cyber threats, ranking it as the largest threat to business, according to the PwC Global Investor Survey 2018.
A breach results in loss of trust, proprietary information, trade secrets and consumer confidence. On the other hand, investing in cybersecurity and breach preparedness creates trust, boosts consumer confidence, and incites innovation – all generators of revenue.
Organizations now believe that their cyber assets are more valuable than plant, property and equipment assets, even though they are spending four times more budget on insurance protecting cyber risks.
A study conducted for Hiscox shows that, out of 3,000 companies in the U.S., UK and Germany, slightly more than half (53 percent) of these organizations are not prepared to effectively handle a cyber-attack.
Security professionals are unable to keep pace with cybersecurity threats against companies as external and internal threats mushroom from both known and emerging technologies, according to a Trustwave survey.
