For a growing number of UK companies, being hit by a cyber breach is not a matter of ‘if’ – it’s a matter of ‘when’.
This is according to a new report by KPMG based on a poll of 150 UK leaders.
When compared to the rest of the world, though, the UK is performing well, as according to the report. 39 per cent of businesses said the agreed with the inevitability of being attacked, compared to a global average of 49 per cent - which KPMG says is ‘disheartening, but optimistic’.
Bernard Brown, vice chair at KPMG UK said: “The seeming inevitability of a cyber attack crosses all borders and has now crossed firmly over the threshold for board-level discussions. Protecting the business from a cyber-attack has jumped further up the boardroom agenda and we are seeing businesses making their defences the best that they can be.”
At the same time, 40 per cent of UK CEOs consider data protection their utmost priority. The report argues that with the new GDPR now in effect, ‘just’ 40 per cent of worried leaders is cause for alarm.
UK business leaders see a strong cyber security strategy as critical to building trust with key stakeholders.
“It is reassuring that UK CEOs see the value in having a good cyber security strategy which enables trust. The reality is that without trust, customers are likely to be increasingly resistant to sharing personal information, potentially undermining business models and strategies. Businesses need to turn privacy into a source of competitive advantage which will no doubt enable long-term growth of the customer base,” added Brown.
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