Annual industry survey report launch: ‘Intelligent Security: Protect. Detect. Respond. Recover’

Annual industry survey report launch: ‘Intelligent Security: Protect. Detect. Respond. Recover’

LONDON – 09 April 2015 – Europe’s leading infosecurity conference and exhibition has officially launched its annual industry survey report based on this year’s exhibition theme Intelligent Security: Protect. Detect. Respond. Recover. In the past year, major security breaches have been in the spotlight, and a staggering 42.8million¹ security incidents have been reported globally. Infosecurity Europe recently surveyed 1,336 industry professionals on the subject of ‘Intelligent Security’ and exposed interesting insight into protecting information assets, detecting incidents and of response and recovery.

Prevention is not enough, incident response is an increasing priority

It is no longer a question of debate if companies will be breached, but when. Alongside a strong prevention strategy, practitioners are now investing more in response and recovery tactics. They are recognising the need to adopt a response-focused strategy, with 69% of those who participated in the Infosecurity Europe industry survey indicating that their organisation recognises the need to invest more in incident response.

External attacks are currently the key concern

When asked about the greatest information risk facing their organisation today, 32% of survey respondents cited external threats such as hacking, malware, APTs / Advanced threats and DDoS attacks as their biggest concern. Recently, high-profile hacks such as Sony Pictures have highlighted the potentially devastating consequences of external attacks. Not only costly, security breaches can severely damage a firm’s reputation. Information security vulnerabilities such as Heartbleed and Shellshock, and breaches such as JPMorgan and Target have raised the profile of cyber risk, helping businesses to understand the level of risk. 67% of Infosecurity Europe industry survey participants revealed that recent high-profile breaches had a positive effect on making the business understand the potential threats.

Most breaches are detected within 7 days

As the number of attacks increases, having robust and rapid detection strategies in place has never been more critical, to minimise the business impact. Although many recent breaches revealed long detection periods, the Infosecurity Europe industry survey results suggest that organisations today are discovering breaches quickly, with 62% of participants claiming to be able to detect a breach within 7 days. However, there is still a way to go for some, as 2% said that it took at least a year, with a further 15% claiming not to know.

Reputation, reputation, reputation

Financial losses caused by a hack can be devastating, such as Target losing almost £110million after being breached in 2013. The Infosecurity Europe industry survey found that the main concern for an organisation is reputational damage (62%) with only 14% stating financial loss as their prime concern. Ultimately, 90% of participants felt confident that their organisation would be capable of effectively recovering from a significant breach. According to those who took part in the survey, the two biggest priorities facing an organisation in the wake of a security breach are minimising the impact on the customer (34%) and business continuity (31%). Organisations need to find ways of enabling business continuity and protecting their customers. According to the survey results, the most essential element of a successful incident response strategy is the ability to continually evolve the incident response plan to incorporate lessons learned.

To download the full report please click here:

¹ PricewaterhouseCoopers

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