Security Breaches Not Limited to Big Retailers, Cybercrime Spree Continues

By:
07/20/2015
CMO: Numbers that Count

Is it Cybersecurity or Cyber-insecurity? CSO’s 2015 U.S. State of Cybercrime Survey results indicate that despite years of reports saying organizations are increasing their resources allocated to preventing cybercrime, 76% are more concerned about cybersecurity events in 2015 than ever before, a sharp increase from the 59% who were more concerned in 2014.

A closer look at the results of this study – which represents the views and experiences from more than 500 executives at U.S. businesses, law enforcement services and government agencies – tells a metaphoric story of a river dam with a gaping hole through the middle that only gets bigger as the water flows through. An alarming 79% of security executives said their organization has had at least one cybersecurity event in the last 12 months, and the average number of security incidents experienced is still in the hundreds (currently 163) and growing with a 21% increase from one year ago. Additionally, enterprise organizations (1,000+ employees) were impacted more often by cybercrime as they experienced an average of 305 cybersecurity incidents within the last 12 months, well above the average. Nearly half (47%) of enterprises saw an increase in cybersecurity events from this year compared to last.

Overall, organizations are implementing strategies but criminals seemingly remain effective by staying a step ahead. They are able to evolve their attacks faster than organizations can adapt to defend. One way organizations may finally be able to turn the tide and become proactive is by collaborating with one another. Collaboration among organizations has been a growing trend of late especially from government agencies, including a recent executive order from President Barack Obama to encourage reliable, actionable and timely intelligence sharing. Yet, only 25% of respondents to the survey said they participated in Information Sharing and Analysis Center (ISAC) activities and only 26% claimed to have received a cyber-threat intelligence briefing from a government agency/law enforcement group in the past 12 months. Those are low participation levels for organizations that are seeing an increase in cybersecurity events and costs.

Collaboration will have to remain a focus in the near future between companies, especially for CSOs, as they struggle to adapt and stay ahead of cybercrime trends.

Source: The 2015 U.S. State of Cybercrime Survey, in partnership with PwC, CSO, U.S. Secret Service, and CERT Division of Software Engineering Institute at Carnegie Mellon University

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