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Businesses are not giving up on defending themselves from cyberattacks—even though the outlook may seem bleak.
Verizon’s 2015 Data Breach Investigations Report, companies lost an estimated $400 million as a result of 700 million compromised records worldwide.
And, as the Society for Human Resource Management reported earlier this year, 37 percent of respondents to an International Foundation of Employee Benefit Plans (IFEBP) poll said their
biggest worry was being the victim of a cyberattack—an increase of nearly 75 percent from five years ago.
New York City-based venture capitalist company CB Insights reports that within the last five years, $7.3 billion has been invested into 1,208 private cybersecurity startups.
Many information security professionals believe that by 2018, organizations can win the war against cyberattacks, according to the newly released
2015 Global Megatrends in Cybersecurity research report.
Sponsored by Raytheon and independently conducted by the Ponemon Institute, information security leaders identified the most important trends for the next three years and recommended that organizations do the following:
“While leadership for cybersecurity initiatives will improve, other governance issues will become more troublesome,” the report predicted. “These [issues] are the inability to secure access rights to data, systems and physical spaces, complexity of business and IT operations, the growth of unstructured data assets, and the inability to integrate disparate technologies.”
The report also suggested that organizations prepare to manage “the increasing litigious environment due to class action and tort litigation over cyber breaches.” Organizations should expect to experience a rise in costs due to compliance obligations that mandate they protect data.
The report was conducted among more than 27,000 senior-level IT and IT security professionals in the United States, Europe, and the Middle East and North Africa.
Aliah D. Wright is an online editor/manager for SHRM.
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