Author Topic: Systemic cybersecurity crisis looms  (Read 17 times)

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Offline Scarlett

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Systemic cybersecurity crisis looms
« Reply #1 on: April 25, 2017, 05:16:16 PM »
Systemic cybersecurity crisis looms
25 April 2017, 4:03 pm

The number of large-scale, highly damaging data breaches over the past few years has led some to believe the market is on its way to another systemic crisis, similar to the Great Recession.

Corporate greed, lax risk management procedures and insufficient oversight by regulators contributed to the 2008 financial crisis. Likewise, the perception that cybersecurity is just another cost center coupled with organizations’ tendencies to implement bare minimum security measures could be paving the way for a systemic cybersecurity crisis. 

+ Also on Network World: How CISOs should address their boards about security +

There is a widespread notion that cybersecurity is one more hurdle for executives to deal with that drains company resources. Cisco surveyed more than 1,000 executives, and 74 percent of participants said the main purpose of cybersecurity is to reduce risk rather than enable growth. This ideology that cybersecurity is costly, hinders productivity and is maintained based on a company decision maker’s level of paranoia is not just inaccurate, it is harmful. As a result, many organizations underinvest in their cybersecurity programs, implementing minimal security measures that may be obsolete in a few short years as cyber threats evolve and new attack vectors emerge.

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Source: Network World Security

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