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Cybersecurity professionals believe catastrophic data breach is inevitable

Staff Writer |
A new global cybersecurity study commissioned by Raytheon in partnership with Ponemon Institute, reveals a majority of senior-level IT professionals fully expect their organization will experience a catastrophic data breach that could greatly impact shareholder value.

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The 2018 Global Megatrends in Cybersecurity survey of 1,100 senior-level IT and IT security global practitioners also shows that despite growing threats, IT professionals believe cybersecurity is still not considered a strategic priority among senior leadership.

The study looks at how cyber trends have evolved since Raytheon first sponsored the research in 2015. It also asks security professionals in the U.S., Europe, Middle East and North Africa to identify future trends over the next three years.

82% of respondents predict their workplace will suffer a catastrophic data breach in the next three years as a result of unsecured IoT devices. 66% say such an attack would seriously diminish shareholder value.

67% believe cyber extortion, such as ransomware and data breaches will increase in frequency and payout.

60% predict nation-state attacks against government and commercial organizations will worsen and could potentially lead to a cyber war.

46% believe their cybersecurity strategy will improve, down from 59% in 2015.

60% expect their companies will have to spend more to achieve regulatory compliance and respond to lawsuits and litigation.

Despite growing concerns about sophisticated and persistent cyber threats, only 36% of respondents believe senior leadership consider cybersecurity a strategic priority.

Senior leadership are also seen as seemingly disengaged in the oversight of their organization's cybersecurity strategy with 68% of CISO/IT Executives surveyed saying their Boards are not being briefed on measures taken to prevent or mitigate the consequences of a cyberattack.

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