More than 91% of businesses have adopted a security framework

Rebecca Gibson
Rebecca Gibson
By Rebecca Gibson on 13 October 2015
More than 91% of businesses have adopted a security framework

More than 91% of organisations have adopted a security framework to protect themselves against cyber attacks and data privacy breaches, according to PwC US.

PwC US’ The Global State of Information Security Survey 2016 revealed that 91% of organisations have adopted a security framework or, more often, an amalgam of frameworks to produce holistic, integrated safeguards against cyber attacks.

According to the report, 69% of respondents now use cloud-based security services to protect sensitive data. These solutions are also playing a key role in developing new network infrastructure capabilities that enable improved intelligence gathering, threat modelling, defence against attacks and incident response.

To prevent emerging technologies like big data and the internet of things (IoT) from becoming a ‘cyber liability’, 59% of respondents are shifting security away from perimeter-based defences to using real-time data-powered analytics. To date, only 36% of survey respondents have a strategy specifically addressing potential IoT security threats.

“We are seeing more of what we once saw as a risk, being turned into possible solutions,” said David Burg PwC’s Global and US Advisory Cybersecurity Leader. “For example, many organisations are embracing advanced authentication as a cloud service in place of solely password based authentication.”

Survey respondents also raised their information security budgets by around 24% in 2015, while 59% of business have purchased cyber security insurance to help mitigate the financial impact of cyber crimes. Plus, 54% of respondents have a CISO in charge of the security programme and 45% of company boards now participate in the overall security strategy.

Over the past three years, more organisations have collaborated with others to improve security. More than two thirds of the survey respondents said that they share intelligence on cyber security threats and responses.

“There is no one-size-fits-all model for effective cyber security,” said Burg. “It’s a journey toward a future state that starts with the right mix of technologies, processes and people skills. With those components in place, cyber security potentially serves as an indispensable ongoing business enabler.”

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