Cyber-attacks a chief concern for continuity business
Published: February 22, 2017
Updated: July 24, 2018
Author: Luke Jones
CATEGORY: Industry News
The evidence of cyberattack concern in business is growing. Numerous studies have shown companies and professionals are concerned by the growing number of attacks and ability to deal with them. The latest study shows that cyber-attacks, data breaches, and outages are the biggest concern amongst business continuity professionals.
The data was released a part of the sixth annual Horizon Scan Report. Released on Tuesday, the report lists the top three concerns among professionals. These worries have remained unchanged year-on-year.
In a release, the report published (U.K.-based Business Continuity Institute (BCI)) says cyber-attacks are the top concern. The report was compiled in collaboration with the British Standards Institution (BSI).
88 percent of polled companies say they are either “extremely concerned” or “concerned” about potential cyber-crime perpetrated against them. The threat of a data breach was cited by 81% of respondents and network outages by 80%, the report concludes.
Below the top three concerns, the report shows some movement in the remaining positions:
- security incident – up one spot;
- adverse weather – up three spots;
- interruption to utility supply – static;
- act of terrorism – down three spots;
- supply chain disruption – down one spot;
- availability of key skills – static;
- threat of uncertainty around the introduction of new laws or regulations – new entry (representing the issue’s first time in the Top 10 in the study’s six-year history).
“With the top four threats all showing an increasing in level of concern, it is worrying that 14% of respondents will experience business continuity budget cuts over the next year, making them less likely to be able to respond effectively to these threats,” the statement adds.