From: ComputerWeekly.com

Warwick Ashford

Businesses are overconfident about cyber security and should treat data security breaches as inevitable, says business advisory firm Deloitte.

A new study shows that 88% of companies in technology, media and telecommunications (TMT) do not think they are vulnerable to an external cyber threat.

Although 68% of companies said they understood their cyber risks and 62% said they had a programme in place to address them, 59% experienced a security breach, according to Deloitte’s sixth annual Global TMT Security Study.

With over half of those polled aware of security breaches in the past year, Deloitte said companies should invest significant time and effort in detection and response planning.

Despite the importance of disaster recovery, only half of companies have this planning in place, the study revealed.

“Cyber attacks are now so sophisticated and commonplace that it is impossible to be fully protected,” said James Alexander, lead partner for TMT security at Deloitte.

“Companies need to have a documented response plan in place so they can react when breaches occur. Unfortunately, not enough companies are doing this so we think companies are being overconfident in their resilience,” he said.

Employee mistakes is top threat

Companies rated mistakes by their employees as a top threat, with 70% highlighting a lack of security awareness as a vulnerability. Yet only 48% offer general security-related training.

Read Complete Article