Nearly half of businesses don't think they could stop a cyberattack

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Almost half of organisations in the UK are pretty sure hackers can breach their network whenever they feel like it. 

This is according to a new CyberArk survey, which claims that multiple factors are compounding risk. These include, first and foremost, a general lack of awareness about the existence of privileged credentials, mostly across DevOps, robotic process automation (RPA) and the cloud.

Then, there’s also the increased investment in automation and agility, which is often followed by lagging security solutions.

The lack of privileged access security strategies for DevOps, IoT and RPA allows hackers easy access to a network, and even easier lateral movement, for the purpose of network analysis.

Some organisations understand the risks, as well as the dangers of hackers moving laterally across their network, which is why more than a quarter (27 per cent) plan to spend extra cash in the next two years to prevent privilege escalation and lateral movement.

For CyberArk, an increase in investment s is “critical” because of the identified top threats, which include hacking attacks, organised crime, privileged insiders, phishing, ransomware and Shadow IT.

“These findings are sober reading for businesses and cyber security practitioners,” says Rich Turner, SVP EMEA, CyberArk.

Despite the vast sums being spent on cyber security, it’s clear that businesses have very little confidence in their ability to defend themselves from cyber attacks, protect their most critical assets, or their value creation activities.  UK businesses must look at their cyber security investments, both current and future pragmatically making sure not to over invest in one area only to be exposed in another.”