C-suite support cuts cyber-attack growth by 50 per cent

A proactive C-suite can reduce the growth of various cyber-attacks by 50 per cent, a new study by the Economist Intelligence Unit (EIU) says.

The new report, entitled Data Security: How a proactive C-Suite can reduce cyber-risks for the enterprise, was sponsored by Oracle, and polled 300 C-suite executives about their company's security practices.

As it turns out, a successful company starts with the adoption of a proactive cyber-defence strategy. More than a quarter (28 per cent) of companies with such an approach managed to cut down the growth of cyber-breaches by more than 50 per cent.

The second significant factor was the active support of a C-suite or board of directors. With the support of a company’s highest executives, companies manage do cut the growth of cyber-attacks by an average of 53 per cent.

Breaking that average down, the report says that hacking was supressed by 60 per cent, ransomware by 47 per cent and malware by 40 per cent.

Companies with a better security record were twice as likely to include security staff in the planning phase, and 56 per cent were more likely to maintain a standing board committee regarding cyber-security.

“Cyber-criminals are now targeting all parts of the enterprise, probing for weaknesses and penetration points,” says the report’s editor, West Coghlan.

“All parts of the organisation need to be educated and mobilised as part of an effective defence. Only the C-suite or board can provide the leadership and authority to make this proactive, cross-enterprise strategy work. Cyber-security cannot be pursued as an isolated IT initiative—it requires the active leadership of the C-Suite and Board of Directors to reduce the rate of attacks on the firm.”

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