Subj : Most CEOs now see cybersecurity as more important than economic p
To   : All
From : TechnologyDaily
Date : Mon May 29 2023 13:30:03

Most CEOs now see cybersecurity as more important than economic performance

Date:
Mon, 29 May 2023 12:22:49 +0000

Description:
Growing cybersecurity threats are keeping many CEOs up at night.

FULL STORY
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A growing number of CEOs are starting to realize that cyberattacks are a 
bigger existential threat than economic uncertainty, a new report from Palo 
Alto Networks has claimed 

Based on a survey of 2,500 CEOs from the UK, Germany, France, Brazil, and the 
United Arab Emirates (UAE), Palo Alto found that CEOs fear what they dont 
know, while many dont even think theyre responsible for their organizations 
cybersecurity posture. 

However, this hasn't led to a drop in confidence, as the majority believe 
theyre well-prepared for a cyberattack scenario. Sleepless nights 

The report found 51% of CEOS think that as the risks of cyberattacks rise 
rapidly, their ability to keep their firms' endpoints safe keeps them awake 
at night. 

The majority dont even know what theyre up against, as roughly one in six 
(16%) feel they completely understand the risks their firms are facing. A 
fifth (21%) consider themselves wholly responsibly for their organizations 
cybersecurity, while a quarter (24%) see it as the job of the Chief 
Information Officer (CIO), but they do see themselves as somewhat 
responsible, too. Read more 

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But the vast majority think theyre well prepared. Almost four in five (78%) 
are confident in their (complete and tested) plans for threat protection and 
recoverability, with 74% stating their firms can easily adapt to changing 
threats. At the same time, just a third (36%) would work with an incident 
response team in case of an attack, and 34% would pay the ransom in case of a 
ransomware attack. 

Cybersecurity experts and law enforcement agencies are vehemently against 
paying the ransom, and advocate the use of (possibly airgapped) backup 
solutions. Paying the ransom demand doesnt guarantee the business will get 
their data back, and doesnt guarantee they wont get attacked (by the same, or 
a completely different threat actor) as soon as tomorrow. The only thing 
theyre doing is funding future ransomware operations and exacerbating the 
problem. Still, many firms do it because they see it as the fastest way to 
resume operations. These are the best firewall tools to keep you safe online



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Link to news story:
https://www.techradar.com/news/most-ceos-now-see-cybersecurity-as-more-importa
nt-than-economic-performance


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