PwC Study Shows Firms NOT Prepared for Cyber Attacks

November 8, 2017 CyberCecurity Leave a comment

Despite the constant news reports of cyber breaches, PwC says that business leaders are not taking this to heart, which means that your data is still at risk.

Price Waterhouse Coopers surveyed 9,500 executives in 122 countries and came up with the following –

44% – almost half – say that their firms have not created an overall cyber security strategy.
54% – more than half – do not have an incident response program. This means that they likely will look a lot like Equifax after their breach – a bit of a pinball in a pinball game as they bounced from one screw-up to another.
48% have no employee awareness training. This stat is amazing. Given that people are at the root of most breaches and the affordability, even for small companies of cyber security training, that almost half of the companies do not train their employees is unbelievable.
39% are very confident in their cyber attack attribution capabilities.
40% say that an attack against their automation and robotics would disrupt operations and 39% say it would result in the loss of company or sensitive data.
32% say an attack would produce a decline in product quality
29% say an attack would result in a damage to physical property
22% are concerned about harm to human life. While this seems alarming, we have seen this when an attack takes out infrastructure.
Only 44% – less than half – say that their boards actively participate in their overall security strategy; the rest still think it is an IT problem.
For consumers, more think that their email will be hacked (45%) than a flight will be cancelled (36%).
And, last (there are more in the report) 10% think that their information is secure.