Cyber-crime is greatest global threat to organisations’ survival today

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With information security functions not fully meeting the needs of the vast majority of organisations, 93% of companies globally are maintaining or increasing their investment in cyber-security to combat the ever increasing threat from cyber-attacks, according to a new survey recently released by EY.

“Under cyber-attack”, EY's 16th annual Global Information Security Survey, tracks the level of awareness and action by companies in response to cyber threats and canvases the opinion of over 1,900 senior executives globally. This year’s results show that as companies continue to invest heavily to protect themselves against cyber-attacks, the number of security breaches is on the rise and it is no longer a question of if, but when, a company will be the target of an attack.

Thirty-one percent of respondents report the number of security incidents within their organisation has increased by at least 5% over the last 12 months. Many have realised the extent and depth of the threat posed to them; resulting in information security now being ‘owned’ at the highest level within 70% of the organisations surveyed.

“This global report highlights the importance of organisations taking effective and appropriate measures to combat cyber-crime because cyber threats are real and can happen to all companies, regardless of their size,” David Moore, Advisory Partner at EY in the Channel Islands.

“It’s crucial that Channel Islands companies take these threats seriously because none of us are immune to cyber-attacks. 2

“It’s good news that this year’s survey shows that organisations are moving in the right direction, but more still needs to be done, and urgently. There are promising signs that the issue is now gaining traction at the highest levels. In 2012, none of the information security professionals surveyed reported to senior executives – in 2013 this jumped to 35%.”

For further information and to download the 2013 report, visit www.ey.com/GISS