Many businesses, especially in Europe, fully understand the cyber risk they face, but have yet to implement solid plans to address it, including declining to buy cyber insurance, according to a new Risk:Value survey from NTT Com Security.
“Study any risk-based discipline for long enough, and you will see a worrying trend: A large proportion of people understand the risk is there, but often do not address the problem until it is too late. People smoke, fail to exercise and eat bad food, while admitting that they understand the mortality statistics. On a broader scale, we know the climate change risks, but continue to burn carbon at furious rates. It’s as though we are somehow programmed to procrastinate,” stated the authors of the report. “The same is true in cybersecurity. Organizations may understand the likelihood of an intruder stealing their data. They may even understand how badly it will impact them. But they often tend to react impulsively after the fact, rather than responding thoughtfully to a threat well in advance.”
Read more at http://www.advisenltd.com/2016/04/28/cyber-risk-awareness-not-turning-into-action-survey-finds/
Erin Ayers, Cyber risk awareness not turning into action, survey finds (April 28, 2016), available with subscription at Advisen Cyber Front Page News.
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