Of all the digital threats organizations are facing today, nothing beats the worst of the worst, otherwise known as human error. Data theft, information leaks, virus infections, spear phishing, spam, identity theft, corporate espionage, and the latest, cryptojacking infections are now all working together to compromise the systems and steal the data of online businesses. As a result, a July survey conducted by 111 Irish IT leaders at DataSolutions has outlined their findings.
Based on the survey, 63% of the participants admitted that their firms are not ready with all the cyber threats. Cyber defense comes with a cost, both in the acquisition of the necessary security software and the hiring of IT personnel knowledgeable in managing the former. The good news disclosed in the survey is that 76% of the respondents expect increased spending to strengthen their organization’s cyber defense.
However, 51% of IT leaders confessed that their firm’s top management may not agree with a higher budget for cybersecurity spending. Human error is the biggest threat to an organization is catalyzed by phishing attacks, which uses email as the infection vector, as reflected by 57% of the participants. This is seconded by malware @54% and followed by ransomware @52%.
“It is really encouraging to see companies investing more in their cybersecurity strategy. This is needed in an ever-evolving and increasingly sophisticated threat environment. Of those surveyed, 70% recognize the highly complex nature of modern cyber threats as the leading reason why security teams are not fully prepared to face today’s challenges. One-third of respondents feel that their security teams are not completely prepared for today’s cybersecurity challenges due to a lack of training. An increased focus on training could help equip companies for the biggest perceived security threats. From carelessness and error to phishing attacks, most of the leading security threats are heavily influenced by people and so employee cybersecurity training is a no-brainer for business leaders who are serious about cyber protection,” emphasized by David Keating, Security specialist from DataSolutions.
DataSolutions, by conducting this survey don’t want to focus the issue with the controversy of cybersecurity software acquisition being an expense for a firm. But rather a reasonable level of funding to have credible security setup, protecting the business from cyber risks.
“Simply throwing more money at cybersecurity is not the answer to these new challenges. Organisations must adopt a strategic and targeted approach to effectively combat threats. Investing in current cybersecurity technology is a logical step for many, although one in five IT professionals admitting to using outdated technology. Irish businesses are starting to take a more mature approach to security and accept that it is very likely they will be hit by an emerging threat. Hackers are always going to be one step ahead, so it is essential that companies have the right defense technology in place,” added Keating.
Employee education is also specified to play a huge role in securing any organization. Keating concluded: “An increased focus on training could help equip companies for the biggest perceived security threats. From carelessness and error to phishing attacks, most of the leading security threats are heavily influenced by people and so employee cybersecurity training is a no-brainer for business leaders who are serious about cyber protection.”