US Companies Unrealistic About Cybersecurity Skills

Cyberattacks are increasing, with the most significant malicious activity so far detected in the finance, professional and information sectors This is followed by manufacturing. Despite the increasing number of data breaches in critical sectors, there are discrepancies in how executives see cybersecurity and the threat landscape.

Some fear an attack is inevitable now but others display unrealistic confidence in their risk mitigation strategy, FICO research states.FICO's research reveals that 63 percent of executives predict an increase in security incidents and data breaches in coming months, but the most fearful are those in the financial services and retail and e-commerce.

As many as 80 per cent fear attack volumes will skyrocket, while only 39 per cent of telcos share that belief. On average, some 64 per cent of respondents predict a significant increase in cybersecurity budgets in the coming year.

FICO’s 2018 report states that only 33 per cent of respondents noticed an increase in the number of attacks this year, compared to 61 per cent in the previous annual report, while nine per cent say they decreased.

“This could be a reflection that the volume of attacks in the USA is starting to stabilise after a period of significant growth,” reads the report. “There were differences in the rate of attack by industry, which could indicate that cybercriminals are targeting attacks against certain types of organizations—perhaps those they perceive have the weakest defences.”

More on the FICO report is available here.

more news

65000 GDPR Data Breaches In Europe To Date


European privacy authorities have received almost 65,000 data breach notifications since the EU's new privacy law went into full effect. In addition, regulators in 11 European countries have imposed $63 million in General Data Protection Regulation fines.

read more

More than half of British firms 'report cyberattacks in 2019'


The proportion of UK firms reporting a cyberattack has jumped, despite most businesses admitting they are under-prepared for breaches, according to research from Hiscox reported by the BBC. The insurer found 55 per cent had faced an attack in 2019, up from 40 per cent last year.

read more

Sloppy IT Processes Risk Cyberattacks - McAfee


McAfee this week published a report that turns familiar survey findings on their heads by reporting that most cybersecurity breaches are the result of lax IT processes rather than mistakes made by end users.

read more

Cybercrime Soaring Reports MalwareBytes


Cybercrime is accelerating at a worrying rate, reports MalwareBytes in its Q1 2019 report. Every quarter that goes by shows more alarming data as to how much cybercrime activity is going on out there, with organizations and companies being called to face and deal with an increasing amount of threats, coming literally from everywhere.

read more