Se­cu­rity Blues

IT de­ci­sion mak­ers be­lieve board mem­bers still do not treat cy­ber se­cu­rity as top pri­or­ity

Dataquest - - C9ONTENTS -

The year 2017 can be billed as ‘the year of liv­ing dan­ger­ously’ for many en­ter­prises when it comes to cy­ber se­cu­rity. The threat land­scape has mor­phed into a new an­i­mal with ran­somware at­tacks like Wan­naCry and Petya open­ing up a new premise. While an­a­lysts al­ways ad­vo­cate a pro-ac­tive se­cu­rity man­age­ment ap­proach, but at ground zero, it seems there is a lot of ground yet to be cov­ered. MY­OPIC AP­PROACH A re­cent Fortinet study un­rav­els some dis­turb­ing trends. Fortinet an­nounced the find­ings of its new Global Enter- prise Se­cu­rity Sur­vey. The re­search re­veals that de­spite high pro­file cy­ber at­tacks con­tin­u­ing to oc­cur, al­most half of IT de­ci­sion mak­ers (ITDMs) at 250+ em­ployee or­ga­ni­za­tions around the world, in­clud­ing In­dia, still be­lieve that busi­ness ex­ec­u­tives are not mak­ing cy­ber se­cu­rity a sig­nif­i­cant enough pri­or­ity or focus. How­ever, many IT pro­fes­sion­als be­lieve that the tran­si­tion to the cloud as part of their or­ga­ni­za­tions’ dig­i­tal transformation will in turn make se­cu­rity a grow­ing pri­or­ity.

Pa­trice Perche, se­nior ex­ec­u­tive vice pres­i­dent, world­wide sales and sup­port at Fortinet says, “Over the years, we’ve seen that cy­ber se­cu­rity has be­come a key in­vest-

ment for or­ga­ni­za­tions, with more and more C-level ex­ec­u­tives con­sid­er­ing it as part of their broader IT strat­egy. As or­ga­ni­za­tions now em­brace dig­i­tal transformation and turn to tech­nolo­gies like the cloud, cy­ber se­cu­rity is no longer just an IT in­vest­ment but a strate­gic busi­ness de­ci­sion. In to­day’s dig­i­tal econ­omy, I ex­pect the trend we’ve seen at the board level to ac­cel­er­ate with se­cu­rity be­ing treated as a top pri­or­ity within an or­ga­ni­za­tions’ broader risk man­age­ment strat­egy. By do­ing so, com­pa­nies will be in a bet­ter po­si­tion to suc­ceed in their dig­i­tal transformation ef­forts.”

TRENDS IN IN­DIA

Board mem­bers are not treat­ing cy­ber se­cu­rity as a top pri­or­ity: 42% of IT de­ci­sion mak­ers in In­dia be­lieve that IT se­cu­rity is still not a top pri­or­ity dis­cus­sion for the board. This doesn’t seem to af­fect bud­gets since 74% of en­ter­prises stated that they spend over 10% of their IT bud­get on se­cu­rity, which is a high in­vest­ment. 89% of the sur­veyed re­spon­dents said their IT se­cu­rity bud­get has in­creased from the pre­vi­ous year. Now, IT de­ci­sion mak­ers feel strongly that cy­ber se­cu­rity should be­come a top man­age­ment pri­or­ity with 87% of the re­spon­dents say­ing that the board should ac­tu­ally put IT se­cu­rity un­der greater scru­tiny. Three key driv­ers for cy­ber­se­cu­rity be­com­ing a top pri­or­ity: In­crease in se­cu­rity breaches and global cy­ber at­tacks: In the last two years, 84% of busi­nesses have ex­pe­ri­enced a se­cu­rity breach, with the most com­mon vec­tor of at­tack be­ing mal­ware and ran­somware for 54% of re­spon­dents.

71% of ITDMs said there has been an in­creased focus on IT se­cu­rity fol­low­ing global cy­ber at­tacks, such as Wan­naCry. The scale and pro­file of global cy­ber at­tacks is bring­ing se­cu­rity to the at­ten­tion of the board. Se­cu­rity is no longer just an IT department dis­cus­sion.

In­creased pres­sure from the reg­u­la­tors: An­other im­por­tant driver of board aware­ness is the pro­lif­er­a­tion of reg­u­la­tion, 47% of re­spon­dents re­ported. With ma­jor fines threat­en­ing the bot­tom line, such as the im­pend­ing GDPR com­pli­ance for Euro­pean data, the board now has a man­date to take in­ter­est.

Tran­si­tion to the cloud as a cat­a­lyst for se­cu­rity pri­or­i­ties: As or­ga­ni­za­tions look at mi­grat­ing to the cloud as part of their dig­i­tal transformation, 88% of IT se­cu­rity de­ci­sion mak­ers be­lieve that cloud se­cu­rity is be­com­ing a grow­ing pri­or­ity. 92% of the re­spon­dents also af­firm that cloud se­cu­rity – along with the in­vest­ment in se­cu­rity to sup­port it – is be­com­ing a key pri­or­ity for the board. As a re­sult, half of those sur­veyed (71%) are plan­ning in­vest­ment in cloud se­cu­rity in the next 12 months.

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