E&Y Survey Find Enterprises Lack Confidence in Cyber-Security Efforts

1 - E&Y Survey Find Enterprises Lack Confidence in Cyber-Security Efforts
2 - Boards Lack Confidence in Organizational Security
3 - Many Organizations Do Not Have a SOC
4 - Breaches Don't Always Lead to More Cyber-Security Spending
5 - IoT Visibility is a Key Challenge
6 - User Behavior is a Top Mobile Risk
7 - The Changing Threat Landscape
8 - Business Continuity Management is a Top Priority
9 - Security Budgets Are Increasing
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E&Y Survey Find Enterprises Lack Confidence in Cyber-Security Efforts

The latest Ernst & Young Global Information Security Survey analyzed the views of security professionals worldwide, finding numerous shortcomings in IT security.

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Boards Lack Confidence in Organizational Security

A key finding in the EY report is the lack of confidence in their company’s cyber-security from 87 percent of C-level executive and board members.

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Many Organizations Do Not Have a SOC

A security operations center (SOC) is considered to be a best practice to help enable a more secure enterprise. EY's study found that 44 percent of organizations do not have a SOC.

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Breaches Don't Always Lead to More Cyber-Security Spending

Security often is thought of as being a “knee-jerk" reaction to a security incident, but EY's study found that not to be the case. Sixty-two percent of respondents indicated they would not spend more on cyber-security after a data breach that did not appear to have any immediate impact. EY warns that even though organizations may not notice an immediate impact, they should assume that harm has been done.

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IoT Visibility is a Key Challenge

Identifying suspicious traffic over the network was reported as the top security challenge for the internet of things (IoT).

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User Behavior is a Top Mobile Risk

Users apparently are not on their best behavior when using mobile devices. EY found that 73 percent of respondents cited poor user awareness and behavior as the main risk associated with the growing use of mobile devices.

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The Changing Threat Landscape

EY has been conducting its Global Information Security Survey study for 19 years and, as such, has observed a number of trends. Specifically during the last four years (2013-2016), organizations are facing increased risk exposure from unauthorized access, malware and phishing attacks.

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Business Continuity Management is a Top Priority

When it comes to priorities, 57 percent of respondents identified business continuity management (BCM) as a top priority. BCM was tied with data leakage and data loss prevention, which also were rated top priorities by 57 percent of respondents.

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Security Budgets Are Increasing

On a positive note, 53 percent of organizations reported that security budgets have increased over the last 12 months. Despite this, 69 percent of EY's survey respondents indicated they need more money in their security budget.

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