ARTICLE
20 December 2017

New Survey Suggests Many Companies Are Still Unprepared For Cyber Risks

WS
Winston & Strawn LLP

Contributor

Winston & Strawn LLP is an international law firm with 15 offices located throughout North America, Asia, and Europe. More information about the firm is available at www.winston.com.
PwC recently released the first set of results from their 2018 Global State of Information Security® Survey, which was based on responses from 9,500 executives in 122 countries and more than 75 industries.
United States Technology

PwC recently released the first set of results from their 2018 Global State of Information Security® Survey, which was based on responses from 9,500 executives in 122 countries and more than 75 industries. PwC's key findings include: 

  • Former employees are the most likely source of data security incidents, compared to unknown hackers, competitors, or third parties (e.g. contractors, vendors).
  • Despite the increasing use of Internet of Things (IoT), only 34% of respondents said that their organizations had plans to assess IoT security risks across their business ecosystems.
  • Only 44% of respondents said that their corporate boards actively participate in their companies' overall security strategy.
  • Only 52% of the organizations surveyed employ a chief information security officer (CISO).
  • 48% of respondents said their companies do not have an employee security awareness training program.
  • 54% of respondents said they their companies do not have an incident-response process.

These findings demonstrate that, even with all of the attention to data security risks, many companies still have not taken appropriate steps to protect their data.

TIP: A company must do more than just recognize that its data is at risk—it must take cross-departmental precautions and implement cross-functional protocols to mitigate the risks.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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