Business continuity is key to building cyber resilience and there is the need for it to collaborate with cyber/information security departments to improve the way organizations deal with disruptions caused by cyber security incidents. This is one of the key findings of the 2018 Cyber Resilience Report, published by the Business Continuity Institute, in collaboration with Sungard Availability Services.
The cyber threat landscape is highly complex and rapidly changing and it has become clear that business continuity plays a key role in responding to an incident and ensuring that the organization is able to manage through any disruption and so prevent it from becoming a crisis.
Other key findings from the Cyber Resilience Report include:
- Two-thirds of respondents suffered at least one cyber disruption in the past 12 months.
- Two-thirds of respondents consider reputational damage as the most concerning trend when it comes to cyber security incidents.
- Cyber security incidents cannot be considered exclusively as non-physical incidents anymore. 46 percent of respondents consider cyber attacks with physical security consequences as one of the concerning trends.
- Organizations have adequate detection arrangements in place. One out of four organizations have reported being able to detect a cyber breach in less than one hour, with an additional 34 percent taking less than four hours to do so. 88 percent take one day or less to find out about a breach.
- Only 14 percent of organizations take more than four hours to respond to cyber incidents after their discovery.
- The top five secondary effects of cyber security incidents are: IT and telecom outages: 36 percent; Reputational damage: 18 percent; Loss of profits: 11 percent; Supply chain disruption: 9 percent; Physical security concerns: 8 percent.
The Cyber Resilience Report is based on an online survey conducted between the 27th February and 16th April 2018. 574 responses were received from 77 countries.