The Business World Is Not Prepared for a Cyber Attack
January 12, 2016
Cyber threats have been a concerning topics since computers became functional and daily tools for people. The idea of a hacker brings up images of IT geeks sitting in a dark basement with their laptops and cracking top secret codes in a matter of keystrokes. Hacking has turned from a limited crime to a huge international problem comparable to the mafia. While hackers are interested in targeting individuals, the bolder thieves target big businesses. News of Bahrain shares that “Biz Not Prepared For Cyber Threat,” translated from headline speech that means the business world would not withstand a cyber attack.
KPMG International released the 2015 KPMG CEO Outlook Study that found businesses are aware of risks associated with cyber attacks, but only forty-nine percent have prepared for one. The study surveyed 1,200 CEOs and one out of five are concerned about cyber risks. The concern has led many CEOs to take action with security measures and safety plans.
“ ‘The most innovative companies have recognized that cyber security is a customer experience, not just a risk that needs to be managed or a line item in the budget. In Bahrain, some firms are finding ways to turn cyber preparedness into a competitive advantage with customers, and they are using this as a differentiator.’ ”
Many companies that are attacked thought they were prepared for any threats, but they underestimated hackers’ intelligence, sophistication, and persistence.
Some of the companies with good cyber security are advertising their technical achievements to prevent attacks. It is a desirable feature, especially as more information is housed on cloud storage and businesses need to be aware of potential threats.