Cyber-Security Measures: Confidence in Them Lacking Among Execs
A whopping 97 percent of enterprises with annual security budgets totaling more than $1 million reported concerns about malware attacks and cyber-espionage tactics.There is broad concern among enterprises about the vulnerability of their systems against cyber-attacks. More than two-thirds of C-level executives are concerned their companies will not be able to stop such threats, and one in five say their biggest concern is not knowing whether an attack is underway, according to a survey of 200 C-level executives at U.S.-based enterprises conducted by Opinion Matters on behalf of ThreatTrack Security. Despite these fears, they appear to have had little influence in encouraging executives to protect their networks by adopting best practices in cyber-defense technologies and specialized personnel. Forty-two percent reported not having an incident response team in place, and nearly half (47 percent) reported that they are not making use of advanced malware analysis tools. "Enterprises are facing an unprecedented surge of highly targeted and sophisticated threats that are designed to evade traditional malware detection technologies," ThreatTrack security CEO Julian Waits Sr. said in a statement. "The only way to battle these threats effectively is with a combination of highly skilled cyber-security professionals armed with the strongest malware analysis tools available. Companies that don’t employ the right mix of people, process and technology are making themselves excellent targets for the cyber bad guys." According to the study, a whopping 97 percent of enterprises with annual security budgets of more than $1 million still report concerns that they are vulnerable to malware attacks and cyber-espionage tactics, and 69 percent of executives were concerned that their organizations may be vulnerable to targeted malware attacks, advanced persistent threats (APTs) and other sophisticated cyber-crime and cyber-espionage tactics.
One-third of the enterprises surveyed say they are aware of a targeted malware attack against their companies, including 50 percent of financial services firms and 53 percent of manufacturing companies. The survey found 82 percent of financial services firms are concerned about APTs and sophisticated attacks, but only half of them employ an advanced malware analysis tool.