Are You Really Prepared for a Potential Cyber Attack?
The technology company, Cisco, conducted a 2024 Cybersecurity Readiness Index report that revealed alarming statistics that present a significant challenge for businesses worldwide regarding cybersecurity preparedness. Despite the increasing sophistication of cyber threats, including phishing, ransomware, supply chain and social engineering attacks, an overwhelming 73% of organisations are preparing for cybersecurity impacts on their operations within the next year or two. This concern is further highlighted by the fact that only 3% of organisations worldwide currently have a ‘mature’ level of readiness to respond to the modern cybersecurity risks. This is a significant drop from the previous year when 15% of companies were considered mature.
Despite efforts to bolster their defences against various cyberattack techniques, companies are experiencing a decline in readiness. The complexity of security infrastructures, often assembled from multiple point solutions, is hindering their ability to effectively combat these threats. Surprisingly, 80% of companies report moderate to high confidence in their current infrastructure’s ability to withstand a cyberattack, despite the evident readiness gap. This disparity between confidence and actual preparedness suggest that companies may be underestimating the severity of the cybersecurity challenges they face.
The situation is exacerbated by the widespread use of unmanaged devices to access company platforms, a practice recognised by 85% of companies. Notably, 43% of employees spend up to 20% of their work time on company networks using these unmanaged devices. Furthermore, 29% of respondents indicate that they navigate across at least six different networks weekly.
Additionally, the cybersecurity landscape is struggling with a significant talent shortage, which is a critical barrier to progress in this field. A substantial 87% of companies identified this as a pressing issue, with 46% reporting more than ten unfilled cybersecurity positions within their organisations.
Due to this information, it is required for organisations to reevaluate their cybersecurity strategies. it is recommended to simplify the security frameworks, enhance employee awareness and trainings, and adopt a more holistic approach to cybersecurity. It is important to be ready and establish a resilient defence against potential threats.
Business Tips:
- Evaluate and Simplify Security Infrastructure: Assess current security measures and consider streamlining security stack to enhance effectiveness and response capabilities against cyber threats.
- Strengthen Cybersecurity Awareness and Training: Invest in regular training initiatives for employees to identify and address cyber threats, particularly in light of the risk associated with using unmanaged devices.
- Adress the Talent Shortage: Recruiting new talent and upskilling existing staff
The findings from the Cisco Cybersecurity Readiness Index underscore the urgent need for businesses to take instant and decisive action to enhance their cybersecurity posture in response to rapidly evolving threats and challenges.