Subj : Many cyber bosses just aren't confident in their company's defens
To   : All
From : TechnologyDaily
Date : Mon Oct 16 2023 10:15:04

Many cyber bosses just aren't confident in their company's defenses

Date:
Mon, 16 Oct 2023 09:07:23 +0000

Description:
More threats, greater risks, and increasing measures - companies need to 
simplify cybersecurity, report finds.

FULL STORY
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According to the latest Ernst & Young (EY) figures, only one in five (20%) 
cybersecurity leaders are confident in their organizations approach to 
cybersecurity a concerning figure in a landscape of increasing threats both 
by volume and variety. 

The EY 2023 Global Cybersecurity Leadership Insights Study of 500 global 
cybersecurity leaders found some of the key failings to be around 
organizations training measures and a lack of cybersecurity outside of the 
core IT team. 

Calling for immediate action to prevent future threats from affecting 
businesses, EY says that organizations need to simplify to survive. 
Businesses really arent getting cybersecurity right 

Recent years have seen threats develop and adapt, and companies have had to 
take new and innovative approaches to tackle them, which has seen the 
adoption of even more technologies. 

However, EY found that only around one-third (36%) of the studys participants 
were satisfied with the levels of adoption of best practices outside of their 
organizations IT department. 

The severity has never been higher, because the median cost of a breach to 
participants organizations has increased by 12% year-on-year to $2.5 million. 
That figure is expected to grow substantially, with a sum of $4 million 
firmly in sight. 

Richard Watson, EY Global and Asia-Pacific Cybersecurity Consulting Leader, 
summarized the companys findings: 

The levels of dissatisfaction are more worrying when seen in the context of 
increasing geopolitical instability, economic uncertainty and the rapid 
adoption of emerging technologies that will push the number of incidents to 
even higher levels and see cyber adversaries continually evolve. 

Looking ahead, this EY study is just one in a growing number finding that 
simplicity is key to ensuring better protection. Technologies like artificial 
intelligence and machine learning are also playing an important role in 
extracting value from existing tools. 

Referring to the clutter of technology affecting most organizations, Watson 
added: Instilling a culture of being brilliant at the basics of cybersecurity 
across the organization can prove to be the best defense. More from TechRadar 
Pro Many of us are giving up on cybersecurity best practices Nail the basics 
with the best endpoint protection software and best firewalls Worried you may 
have downloaded something dodgy? Step in the best malware removal



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Link to news story:
https://www.techradar.com/pro/many-cyber-bosses-just-arent-confident-in-their-
companys-defenses


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