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CEOs fear falling victim to next big breach

(Image credit: Image source: Shutterstock/deepadesigns)

Despite most business leaders having confidence in their IT security teams and the way they handle potentially dangerous situations, many are still worried about falling victim to the next big breach.

This is according to a new report from cybersecurity firm Forcepoint published in partnership with WSJ Intelligence, based on a global poll of 200 CEOs and CISOs.

Most respondents said having a cybersecurity strategy is necessary to drive digital transformation, yet two thirds also think digitisation exposes them to a greater number of threats. Further, less than half of businesses regularly review their cybersecurity strategies.

According to the report, the fact CEOs and CISOs are increasingly concerned about  cybersecurity is driven by an acute awareness among decision makers of the potential cost.

There also seems to be a divide between these two executive positions over how to tackle cybersecurity. While CEOs prefer a more proactive, risk-focused approach, CISOs are more reactive and incident-driven.

The report also found that businesses in different territories opt for differently approaches to cybersecurity. For example, while safeguarding customer data is of highest priority in the US and Europe, Asian companies are more focused on protecting organisational IP. Forcepoint believes GDPR might have played a key role in this distinction, together with the California Consumer Privacy Act (CCPA).

“At a time when cybersecurity is more strategic to business growth than ever before, it is time senior business and security leaders reassess their cybersecurity strategy to one that enables them to move left of breach,” said Nicolas Fischbach, Forcepoint CTO.

“Leader companies understand that behaviour-based technologies are the modern cybersecurity path forward and those that get cybersecurity right today will see this be a key competitive differentiator for their business in the years ahead," he added.