Cybersecurity Confidence Down As Cyberattacks Rise

New research from CyberEdge Group shows that 2014 brought new levels of cybersecurity attacks, despite an increase in IT security spending — leading to a dip in confidence among the industry.

The data, which come from a survey compiled with results from 800 security decision makers and practitioners, show that a majority of IT departments expect to be be breached in some capacity or another in the next year. The report indicated that 71 percent of respondents had their networks breached last year, which was an increase from 62 percent the year prior. The survey also indicated that 22 percent of respondents reported being attacked at least six times in 2014. Of those surveyed, 52 percent believe another attack will hit in the coming year.

“Cyberthreats hit an all time high in 2014, in terms of not only the number of breaches but their impact on all aspects of business. Who would have thought that we would see a time when a simple movie would spur attacks that forced an entire industry to publicly address the way it thinks about privacy, piracy, and geopolitical implications of the product it produces,” said Steve Piper, CEO of CyberEdge Group, according to a company press release. “For the first time in our research, a majority of participants predict their networks will become compromised in 2015. These are indeed dangerous times, but there is still cause for optimism as organizations take active steps to prepare for the unexpected. Welcome to the new reality.”

In the same survey, 62 percent of survey respondents said they planned to up their security budgets this year, which is a 14 percent increase from last year's results. Respondents indicated that they typically allocate 6-10 percent of budgets on security, with a few companies allocating 16 percent or above. To combat the issue, investing in security analytics technology was cited as a plan for most of the respondents.

“It’s no surprise that security analytics is the most commonly cited network security technology planned for acquisition in this year’s report,” said Hugh Thompson, chief technology officer of Blue Coat Systems, according to the release. "This technology, coupled with SSL visibility and malware analysis capabilities, is reducing the time and effort needed to detect and eliminate sophisticated threats. Organizations are realizing that being prepared for advanced threats is the key to quick resolution and risk mitigation.”

Results from the mobile security side of the survey also indicated that businesses planned to increase additional security measures in 2015, as 59 percent of respondents saw an increase in mobile device cyberthreats in 2014, the report said.

“A key takeaway from this year’s Cyberthreat Defense Report is the dramatic rise in mobile device threats,” said Kurt Roemer, chief security strategist at Citrix. “With workforce mobility skyrocketing, mobile device and application management technologies are critical for maintaining the confidentiality and integrity of sensitive data. We’re proud to partner with CyberEdge Group to raise awareness of this issue.”



About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

Click to comment