Ponemon Institute: 79 percent of businesses lack comprehensive strategies to manage cyber risks

Published: Tuesday, 19 July 2016 08:57

Despite acute awareness of the millions of dollars in annual costs, and the business risks posed by external Internet threats, security leaders highlight the lack of staff expertise and technology as a key reason that these attacks are unchecked, according to results from a new Ponemon Institute study sponsored by BrandProtect. 79 percent of the IT and IT security practitioners polled indicated their defensive infrastructure to identify and mitigate those threats are either non-existent, ad hoc or inconsistently applied throughout the enterprise. The findings reveal that the companies represented in this research averaged more than one cyber attack per month and incurred annual costs of approximately $3.5 million because of these attacks.

The report ‘Security Beyond the Traditional Perimeter’ examined the threats, costs and responses of companies to external internet cyber attacks. These threats include executive impersonations, social engineering exploits, and branded attacks arising outside a company’s traditional security perimeter. Security professionals cited an urgent need for expertise, technology, and external services to address their growing concerns about these external threats.

Some of the key findings include:

Read the report.