Long Road Ahead or Unbridgeable Chasm? Lessons From the EY ‘Global Information Security Survey’

In many organizations, the executives need to increase the frequency and quality of interactions with the CISO and adopt a more hands-on approach to improving the way cyber risks are managed and governed. In companies where the cybersecurity function still reports to IT, dotted lines of reporting should be created to ensure direct access to top leadership.

If it appears to you that 2017 was a dismal year for cybersecurity, join the club: According to the latest edition of EY’s “Global Information Security Survey,” most security leaders feel they are more at risk today than they were 12 months ago.

The report surveyed chief information officers (CIOs), chief information security officers (CISOs) and other executives from 1,200 organizations around the world. More than 50 percent of survey responses came from small and midsized organizations with fewer than 2,000 employees. Although the top five sectors by respondents were banking and capital markets, consumer products and retail, government, insurance, and technology, other sectors, such as health, power and utilities, and real estate, were also included.

The report shed light on the state of cybersecurity and resilience, which is especially relevant since the global cost of cybersecurity breaches is estimated to reach $6 trillion by 2021. Cyberattacks are becoming more sophisticated, and new and disruptive technologies such as the Internet of Things (IoT) are rapidly increasing the level of connectedness across organizations, thus increasing the attack surface. Continue reading at SecurityIntelligence.com