According to a recent survey conducted by DarkMatter, private sector and government employees ranked the rising sophistication of cyber attacks as the leading challenge to enterprise security in the foreseeable future.
According to feedback from more than 1,500 respondents, 28 per cent of private sector employees and 35 per cent of government employees ranked this factor as the single greatest challenge facing enterprise security out a list of nine issues.
Top three challenges
Other than sophisticated cyber attacks, private sector employees went on to rank a lack of budget and the requirement to manage security in a 24/7 live business environment as the second- and third-most crucial challenges facing enterprise security moving forward, with government employees identifying the very same challenges, only placed in reverse order – to them, lack of budgets come third, while security management requirements come second.
The survey showed that 59 per cent of private sector respondents believe their organisations experience multiple material cyber security incidents on an annual basis, with a further 22 per cent stating they were unsure whether their firms were experiencing this or not.
“Given that organisations regularly face cyber incidents, or even breaches, that they remain unaware of, it is reasonable to expect that the number of organisations that suffer some type of cyber security incident on an annual basis is significantly higher than survey participants’ estimates,” the survey believes.
In findings that run contrary to the expanding threat surface of the modern cyber security landscape, 67 per cent of private sector respondents and 78 per cent of government employees said they believe cyber defences are effectively keeping up with the expansion of cyber threats.
Despite organisations spending billions of dollars a year on cyber security defences, the number and impact of cyber breaches continues to rise.
Cost or investment?
More than 30 per cent of respondents said they perceived spending on cyber security within their organisations as being partly a cost and partly an investment, rather than being completely one element or the other.
Further, 17 per cent considered organisational spending on cyber security as a cost to the business, while almost 30 per cent considered it an investment – results that were widely echoed in responses from government employees.