New systems needed to deal with evolving cyber risk - study

The increasing use of IoT devices is a cause of great security concern among organizations

New systems needed to deal with evolving cyber risk - study


By Allie Sanchez

Organizations are aware that they need a system overhaul to deal with emerging cyber risks, according to a study by the Ponemon Institute, commissioned by technology firm Citrix.

Results of the study revealed that 69% of businesses across five continents consider their information technology security systems to be “outdated and inadequate” in dealing with the risks that come with the adoption of new technology.

However, the top concern for these organizations is their preparedness to deal with the new dangers that come with the use of internet of things (IoT) devices. Seventy five per cent of businesses say that they do not think their organization is fully prepared to deal with the risks that come with the increasing adoption of these devices, which allow for the collection, exchange and monitoring of information through data networks.

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At a close second, 74% said they need a new security framework to deal with these emerging risks.

Meanwhile, organizations identified the following as the top three cybercrime risks that threaten current IT systems: nation state attackers (80%); breaches involving high value information (79%); and tied in the third place were malicious or criminal insiders (76%) and cyber warfare or cyber terrorism (76%).

Furthermore, the study cited employee behaviours as a source of dangers “that pose significant risk to organizations.”

While insufficient security staff with the proper experience and know how (81%) seems to be a perennial human factor risk, the study noted that employee complacency (74%) and the lack of employee awareness of security practices (72%)  should also be closely watched as potential loopholes in the IT security equation.

To deal with the cornucopia of risks that come with the use of new technologies, organizations cited that the most important technologies to adopt are identity and access management (78%); machine learning (77%); and configuration and log-in management (76%).

The study surveyed more than 100,000 organizations across Asia, Australia, North America, South America, and Europe.

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