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Hackers are winning the war as companies worldwide fail on cyber security

Monday 31 July 2017

A new security measurement index benchmark survey has shown that nearly a third of companies are blindly making cyber security investments

Most companies worldwide are failing to measure cyber security effectiveness and performance, according to a cyber security report from Thycotic – a provider of privileged account management (PAM) and endpoint privilege management solutions.

Based on internationally accepted standards for security embodied in ISO 27001, as well as best practices from industry experts and professional associations, the survey provides a comprehensive way to define how well an organisation is measuring the effectiveness of its IT security.

According to the findings, more than half of the 400 respondents in the survey, 58%, scored an “F” or “D” grade when evaluating their efforts to measure their cyber security investments and performance against best practices.

“It’s really astonishing to have the results come in and see just how many people are failing at measuring the effectiveness of their cybersecurity and performance against best practices,” said Joe Carson, chief security scientist at Thycotic. “This report needed to be conducted to bring to light the reality of what is truly taking place so that companies can remedy their errors and protect their businesses.”

With global companies and governments spending more than $100 billion a year on cyber security defenses, a substantial number, 32 percent, of companies are making business decisions and purchasing cyber security technology blindly.

Read more: Information Age

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