{"id":5466,"date":"2020-02-21T12:38:10","date_gmt":"2020-02-21T12:38:10","guid":{"rendered":"https:\/\/fintech.global\/cybertechforum\/?p=5466"},"modified":"2020-02-21T12:38:10","modified_gmt":"2020-02-21T12:38:10","slug":"cybersecurity-still-an-afterthought-for-businesses-despite-rising-threat-levels","status":"publish","type":"post","link":"https:\/\/fintech.global\/cybertechforum\/cybersecurity-still-an-afterthought-for-businesses-despite-rising-threat-levels\/","title":{"rendered":"Cybersecurity still an afterthought for businesses despite rising threat levels"},"content":{"rendered":"<p><em>From:\u00a0<\/em><a href=\"http:\/\/member.regtechanalyst.com\/cybersecurity-still-an-afterthought-for-businesses-despite-rising-threat-levels\/\">RegTech Analyst<\/a><\/p>\n<p><strong>While\u00a0<a href=\"http:\/\/member.regtechanalyst.com\/e-commerce-to-drive-cybersecurity-market-to-be-worth-281-74bn-by-2027\/\">cybersecurity is pegged to be\u00a0a $281.74bn<\/a>\u00a0industry by 2027, businesses are still seeing it as an afterthought, a study from EY claims.<\/strong><\/p>\n<p>The number of cyberattacks is increasing, with a study from Ponemon suggesting two-thirds of SMEs have been hit by a cyberattack and 58% have experienced a data breach in the past year.<\/p>\n<p>However, a new study from EY claims only one-third of organizations state cybersecurity functions are involved at the planning stage of a new business initiative.<\/p>\n<p>In its new Global Information Security Survey (GISS) it found 60% of firms have witnessed an increased number of disruptive attacks in the past 12 months.<\/p>\n<p>The report, which is comprised of responses from 1,300 cybersecurity leaders worldwide, also found that activists were the second most successful cyber attackers with 21% of the successful incidents. The figure is just below organized crime groups, which were responsible for 23% of the attacks, and it is nearly double the level it was last year where activists only represented 12% of attacks.<\/p>\n<p>While there are rising threat levels, only 36% of new, technology-enabled business initiatives have a security team from the start.<\/p>\n<p>EY cybersecurity leader Kris Lovejoy said, \u201cCybersecurity has traditionally been a compliance activity, bolted on by a checklist approach instead of built into every technology-enabled business initiative. This is not a sustainable model. If we ever hope to get ahead of the threat, we must focus on creating a culture of security by design.<\/p>\n<p>\u201cThis can only be accomplished if we successfully bridge the divide between the security function and the C-suite and enable the chief information security officer (CISO) to act as a consultant and enabler instead of the stereotypical roadblock.\u201d<\/p>\n<p>Inside the company, there is a consensus the cybersecurity teams have good relations with adjacent functions such as IT, audit, risk and legal. However, the survey claims there is disconnect with some areas of the business.<\/p>\n<p>Just under three-quarters (74%) of respondents said the relationship between marketing and cybersecurity was neutral, if not mistrustful or non-existent. Similar opinions were held in regard to the research and development teams.<\/p>\n<p class=\"highlight\">Copyright \u00a9 2020 RegTech Analyst<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From:\u00a0RegTech Analyst While\u00a0cybersecurity is pegged to be\u00a0a $281.74bn\u00a0industry by 2027, businesses are still seeing it as an afterthought, a study from EY claims. The number of cyberattacks is increasing, with a study from Ponemon suggesting two-thirds of SMEs have been hit by a cyberattack and 58% have experienced a data breach in the past year&#8230;. <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/fintech.global\/cybertechforum\/cybersecurity-still-an-afterthought-for-businesses-despite-rising-threat-levels\/\" class=\"gdlr-info-font excerpt-read-more\">Read More<\/a><\/p>\n","protected":false},"author":10,"featured_media":5467,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/fintech.global\/cybertechforum\/wp-json\/wp\/v2\/posts\/5466"}],"collection":[{"href":"https:\/\/fintech.global\/cybertechforum\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fintech.global\/cybertechforum\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fintech.global\/cybertechforum\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/fintech.global\/cybertechforum\/wp-json\/wp\/v2\/comments?post=5466"}],"version-history":[{"count":0,"href":"https:\/\/fintech.global\/cybertechforum\/wp-json\/wp\/v2\/posts\/5466\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fintech.global\/cybertechforum\/wp-json\/wp\/v2\/media\/5467"}],"wp:attachment":[{"href":"https:\/\/fintech.global\/cybertechforum\/wp-json\/wp\/v2\/media?parent=5466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fintech.global\/cybertechforum\/wp-json\/wp\/v2\/categories?post=5466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fintech.global\/cybertechforum\/wp-json\/wp\/v2\/tags?post=5466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}