Consumer Businesses Have False Confidence in their Security: Deloitte

Consumer Businesses Have False Confidence in their Security: Deloitte

Consumer business executives are confident in their ability to respond to cyberattacks but fail to document and test response plans.

Consumer companies may be operating with false confidence in their cybersecurity posture. A new study from Deloitte polled more than 400 CIOs, CISOs, CTOs, and other security execs about cyber risk and response plans affecting customer trust, payments, executive engagement, human capital, and intellectual property.

Researchers discovered 76% of executives are highly confident in their ability to respond to a cyber incident; however, 82% have not documented or tested cyber response plans with business stakeholders within the past year. Less than half (46%) report their business has performed threat simulation on a semiannual basis.

Results indicate companies aren’t prepared for the future of cybercrime. Only 30 to 40% percent of companies investing in platforms like analytics, cloud, connected products, and mobile payments have implemented mature programs to address the related risks.

Read more details here.

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