The recent surge in cyber attacks has forced organisations to align cyber security efforts across all of their operations, rather than focusing on IT, but CEOs now need to take the lead in protecting their organisations.
In this report, PwC calls on private and public sector leaders to gain a better understanding of the cyber threats they are facing and outlines six key steps necessary to be cyber-ready.
PwC polled 9,600 executives worldwide. More than two-thirds (69%) of 733 UK respondents said the increasingly aggressive risk environment, fuelled by the global economic downturn, has boosted the importance of the security function.
The increased profile of cyber security is not being matched by the amount being spent on shoring up organisations from the threat of attacks. Only 35% of UK respondents said they plan to spend more on information security over the next year, compared to the global figure of 51%.
In other findings, PwC finds that the rise of cloud computing had improved, but also complicated, the security landscape. 39% of organisations said cloud technologies had improved security while 30% percent claimed it had increased vulnerability, and the largest risk to cloud computing was the inability to coherently enforce provider security policies.
Mobile devices and social media also represent a significant new line of risk – and a demand for prevention. Organisations are beginning to ramp up their efforts to prevent mobile and social media based attacks. In terms of security around employees’ personal devices, the UK lagged the rest of the world.
PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice.