A new EY report highlights the growing threats to cybersecurity.

New report illustrates growing threats to cybersecurity

Stephen Perkins

Cybersecurity is now one of the top concerns for organizations across all industries as the number of malicious attacks and growing sophistication continue to rise, according to recent research.

The report conducted by EY – formerly Ernst & Young – "Under Cyber Attack, EY's Global Information Security Survey 2013," found that the rising threat of cyberattacks is changing the way businesses prepare and defend against external hazards.

Nearly three-quarters of organizations surveyed noted "information security policies are now owned at the highest organizational level," the report cited. The reality of IT security is leading companies to adopt more proactive data protection approaches to counter growing risks.

EY categorized cyberattacks into three divisions, according to Forbes contributor Tom Groenfeldt:

  • State actors attempting to steal intellectual property
  • Organized crime aimed at stealing money
  • Hackers disrupting organizations for belief in some cause

From cybercrime syndicates in China to hacker groups like Anonymous, the rewards of network intrusions can be bountiful, and businesses need to make the necessary adjustments to prevent potential IT security breaches of stored data.

"Data protection is no longer being treated as another line item in a contract or something that organizations simply assume third parties do," the report cited. "Three-quarters of respondents indicate that their organizations mandate self-assessments, or commission an independent external assessment, of the information security measures performed by external partners, vendors or contractors who have access to their data."

Advanced solutions are crucial to overall security, especially since many organizations continue to run on legacy technology that is sometimes 15-years-old, creating an easy target for hackers looking to gain access into stored data.

The importance of secure data storage cannot be overstated. For businesses that lack in-house expertise or infrastructure, deploying solutions offered by credible service providers can be the most dependable method for protecting stored company data.

Categories: Data Protection