March 6, 2013 by Canadian Underwriter
Sixty-five percent of polled organizations report being extremely concerned or concerned about a cyber attack in 2013, notes a new survey from the Business Continuity Institute (BCI) and the British Standards Institution (BSI).
Horizon Scan 2013 Survey Report, released earlier this year, involved 730 organizations from sectors ranging from financial services to public administration, defence, retail and manufacturing in 62 countries, including the United States, the United Kingdom, India, China, South Africa, Egypt and Brazil.
Survey results indicate that 71% of respondents see the use of the Internet for malicious attacks as a major trend that requires a business continuity response, and 42% seeking to manage the prevalence and high adoption of Internet-dependent services, such as the cloud, within their preparedness activities, notes a joint statement from BCI and BSI, both based in the U.K.
Additional survey findings include the following:
“The high level of concern over a cyber attack may well be misplaced, but it demands a considered independent analysis of the threat to avoid hype and disillusionment and ensure a proportionate response is in place,” Lyndon Bird, technical director of the BCI, commented in the joint statement.
“This latest report shows that businesses need to be more prepared than ever for every type of risk,” added BSI chief executive, Howard Kerr. “Cyber resilience must become part of an organization’s wider business resilience strategy.”
The survey concludes the level of concern across sectors and geography over a cyber attack is a major challenge for public policymakers and boardrooms, the statement adds. “More needs to be done to gain a better understanding of the threat and underlying trends that drive the vulnerability to ensure that a proportionate business continuity approach is in place.”
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