They are investing significant amounts to protect themselves as the number of security breaches increases.EY's 16th annual report, "Global Information Security Survey 2013- Under cyber-attack" records the level of awareness and action of businesses to address cyber threats and explores the views of more than 1,900 senior executives worldwide.
This year’s results show that companies continue to invest significant amounts to protect themselves from cyberattacks as the number of security breaches increases. The question is no longer if, but when a company will be targeted.
31% of respondents say the number of security incidents at organizations has increased by at least 5% in the past 12 months. Many have realized the scope and depth of the threat they face, with 70% of organizations now making information security the responsibility of executives at the highest levels of the hierarchy.
Despite half of respondents planning to increase their budget by 5% or more in the next 12 months, 65% cite insufficient budgets for the number one challenge to meet the operating levels their business requires. Among businesses with revenue of up to $10 million, that percentage rises to 71%.
Among budgets for the next twelve months, 14% cover security modernization and emerging technologies. As today’s technologies become embedded in an organization’s network and culture, businesses need to be mindful of how employees use devices both in the workplace and in their personal lives. This is especially true with regard to social media, which respondents identified as the area where they still feel uncertain about their ability to address risks.
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