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Nearly two-thirds (36%) of IT managers withhold breaches for fear of losing their jobs, according to a new study, complicating efforts to improve security.
Keeper Security surveyed 1,000 UK IT decision makers in companies with 100 to 5,000 employees to compile its 2021 Cybersecurity Census Report.
She found that security breaches are widespread: 92% of those surveyed said their organization had experienced one in the past year and more than three-quarters (78%) felt unprepared to deal with cyber threats. .
The financial fallout from successful attacks is also significant, costing nearly one in 10 businesses more than £ 1million.
Disturbingly, many IT executives appear to be silent on breaches rather than actively taking action to address their causes.
Almost all (92%) of the respondents said they were aware of the gaps in their defenses, but less than half (40%) filled them all. A third (32%) even admitted to using weak credentials such as “password” or “admin” to protect data.
Training and skills appear to be the main weaknesses: 58% of IT professionals said employees do not understand the consequences of poor cyber hygiene, while an even higher number (61%) do complained about cyber skills shortages.
This is increasingly important in the context of today’s work environment where remote employees may be more exposed to threats.
Two-thirds (66%) of UK organizations said they had relaxed their cybersecurity policies to support productivity in the past 12 months.
“UK businesses are clearly concerned about their cybersecurity and the challenges are manifold, affecting everything from budgets to productivity,” said Darren Guccione, CEO and co-founder of Keeper Security.
“Businesses currently face many competing challenges and, naturally, may not always make cybersecurity investments a priority. Our report is an urgent reminder for organizations to proactively tackle their cybersecurity challenges as a priority, as deferring them will make the consequences much more serious. “
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