There are a number of headaches that IT executives, such as CTOs and CIOs, face in any type of business, including financial services companies. The things that keep these executives up at night involve a number of challenges. Some that stood out from a recent article discussing this very topic are worth mentioning.
Even though organizations know about the importance of data breach preparedness with 86% of companies having a data breach response plan in 2016 versus 61% in 2013, a recent study by the Ponemon Institute shows that they’re far from implementing their plans in a way that helps them weather the storm if breach happens.
There’s always a lot of talk about the board and cybersecurity. This topic is important because without the board’s approval, organizations can’t take the necessary steps to improve cybersecurity. As time passes and mega breaches keep popping up, like the recent Yahoo mega breach, the board does seem to be getting more interested in cybersecurity. However, the question remains, what’s the board’s cybersecurity ‘why’?
The number of vulnerabilities that organizations can confront are so many that if you’re not in the business of security or dealing with security matters, it can come as a bit of a shocker. Furthermore, the types of vulnerabilities can also be foreign territory for those who haven’t had extensive experience in the field. It is for this very lack of knowledge and expertise that so many businesses find themselves at a loss in tracking, as well as minimizing their security risks.
A little over a year ago Tripwire conducted a study that showed energy sector IT professionals were overconfident in their ability to detect breach. Unfortunately, this overconfidence persists. This year’s Tripwire study showed that 72% of energy IT pros believe they could detect configuration changes to endpoint devices on their organization’s network within the hour.