UK organisations are failing to make progress towards strong cyber security postures and “facing paralysis” as cyber criminals become more advanced. These are the stark conclusions drawn from the findings of the 2019 Risk:Value Report issued by NTT Security.
Examining the attitudes of 2,256 non-IT decision-makers to risk and the value of security to the business, NTT Security’s annual Risk:Value Report – entitled ‘Destination Standstill. Are You Asleep at the Wheel?’ – focuses on C-Suite executives and other senior decision-makers across 20 countries in the Americas, Asia Pacific and Europe (including the UK) and from across multiple industry sectors.
UK respondents are aware of the risks posed by cyber threats, with over half (54%) ranking cyber attacks on their organisation as one of the Top Three issues that could affect businesses in the next 12 months – second only to ‘economic or financial crisis’ (56%).
While global organisations rank ‘loss of company data’ in third place, in the UK some 44% of respondents believe that cyber attacks on critical infrastructure pose a far greater threat. Of the most vulnerable components of Critical National Infrastructure (CNI), telecoms, energy and electricity networks take first, second and third place.
Almost all (90%) respondents in the UK believe that strong cyber security is important to their business over the next 12 months, compared to 78% who say the same about ‘growing revenue and profit’. 93% believe cyber security has a big role to play in society.
According to the report, strong cyber security allows UK organisations to ‘ensure the integrity of their data’ (58%) and ‘ensure only the right people have access’ to this data (56%), while around half say it ‘helps to protect the brand’.