Under half of business leaders are confident about data security

Only 45 percent of organisations worldwide are confident in their data security, according to the Cisco® 2016 Annual Security Report released this week.

The report says that 92% of business leaders feel that regulators and investors will expect companies to manage cybersecurity risk exposure.

The report highlights the challenges businesses face due to the rapid advancements of attackers. Hackers increasingly tap into legitimate resources to launch effective campaigns for profit-gain. Additionally, direct attacks by cybercriminals, leveraging ransomware alone, put $34 million a year per campaign into their hands. These miscreants continue to operate unconstrained by regulatory barriers.

Businesses are up against security challenges that inhibit their ability to detect, mitigate and recover from common and professional cyberattacks. Aging infrastructure and outdated organizational structure and practices are putting them at risk.

“Today, more than ever before, increased collaboration, communication and coordination – both within organizations and across the security industry – are required to effectively combat the cyber threats. Across the board, organizations in the UAE will need to invest in the people, processes and technologies that will enable themselves to become more resilient in the face of new attacks and compete in the new digital age,” says  Rabih Dabboussi, General Manager, Cisco UAE