Companies invest in information security only after devastating cyber attacks – study


The management of enterprises affected by quarantine restrictions due to the coronavirus pandemic approve IT spending only after the enterprise has already become a victim of a cyber attack, which puts its security at risk, according to a new report.
Information security companies Tanium.

According to the results of the study, 86% of surveyed IT specialists in the UK believe that the senior management of their companies “are ready to invest in cybersecurity only after a devastating cyber attack.”

According to 75% of respondents, “in order for management to increase investments in technology, security incidents must occur.”

“The funding is more aimed at eliminating hacks after they have already occurred. This is equivalent to the fact that the company would have left the front door and windows of its offices open and locked them only after a burglary,” said senior IT architect of EMEA Information Technology company Tanium.

56% of survey participants reported that the greatest damage from a cyberattack is a decrease in productivity as a result of forced downtime. In their opinion, this is even worse than the theft of intellectual property or damage to reputation.

Banks and universities are most concerned about material damage from cyber attacks, while private medical institutions, technology and telecommunications companies are more worried about downtime.

48% of respondents are concerned about damage to reputation, and 46% – theft of intellectual property/data.

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