Only 45 per cent of global companies feel safe: Report

Only 45 per cent of organisations worldwide are confident in their security posture as attackers are launching more sophisticated, bold and resilient campaigns, according to a report released yesterday.

The annual security report by Cisco examines threat intelligence and cybersecurity trends. 

The report further points out that while executives may be uncertain about their security strength, 92pc of them agree that regulators and investors will expect companies to manage cybersecurity risk exposure. These leaders are increasing measures to secure their organisations’ future, particularly as they digitize their operations.

The report highlights the challenges businesses face due to the rapid advancements of attackers. Hackers increasingly tap into legitimate resources to launch effective campaigns for profit-gain. Additionally, direct attacks by cybercriminals, leveraging ransomware alone, put $34 million a year per campaign into their hands. These miscreants continue to operate unconstrained by regulatory barriers.

Businesses are up against security challenges that inhibit their ability to detect, mitigate and recover from common and professional cyberattacks. Aging infrastructure and outdated organisational structure and practices are putting them at risk, the report adds.