"Cyber Threats Top Business Leaders' Biggest Concerns"

According to insurance provider Travelers, cyber threats are the number one concern for US business decision makers, beating worries over economic uncertainty, rising energy costs, and hiring.  The firm polled over 1200 US business leaders.  It was noted that this is the third time in four years that cyber has emerged as the top concern, with more than half (57%) of respondents believing a future cyberattack on their organization is inevitable.  A quarter (26%) said their company had already been a breach victim, the seventh successive year, this figure has risen.  The top two cyber-related concerns were suffering a security breach (57%) and a system glitch causing computers to crash (55%).  Becoming a cyberextortion victim rose from eighth position to third this year.  Travelers noted that despite general concern about cyber threats, business decision-makers may also be guilty of overconfidence in their organization’s security posture.  Nearly all respondents (93%) said they’re confident their company has implemented best practices to prevent or mitigate a cyber event.  Yet most have not deployed endpoint detection and response tools (64%), they haven’t conducted a vendor cyber assessment (59%), and they don’t have an incident response plan (53%).  Further, while 90% said they were familiar with multi-factor authentication (MFA), only 52% had implemented it for remote access.

Infosecurity reports: "Cyber Threats Top Business Leaders' Biggest Concerns"