Cybersecurity report card: Why too many companies are graded ‘could do better’

Despite a year of high-profile cybersecurity incidents including the WannaCry ransomware outbreak, many organisations still lag behind when it comes to cybersecurity. A new report, Cyber Readiness by insurance and underwriting firm Hiscox has found 73 percent of organisations have major shortcomings in their readiness to protect against cyber-attacks.

Part of the problem lies with a shortage of cybersecurity professionals, with organisations left trying their best to ensure their networks are safe, but often without the necessary staff required to do so.

The report claims that a common problem across organisations is that many still view cybersecurity as a technology problem. While the data by Hiscox suggests that those who spend more on cybersecurity are in a better position to fend off attacks — organisations which spent twice as much as the $9.9m average IT budget were found to devote a higher percentage of those funds to security and were more resistant to attacks — there’s still an issue around ensuring that people and processes are up to scratch.

Read more about the findings of the Hiscox Cyber Readiness report on ZDNet.

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