About 27 per cent of global companies –one in four- surveyed by PwC have reported that they suffered a data breach that cost them US$1- 20 million or more in the past three years.
The PwC’s annual Global Digital Trust Insights Survey, which surveyed more than 3,500 senior executives across 65 countries, stated that the percentage rises to one in three (34 per cent) for companies surveyed in North America, with only 14 per cent of firms globally reporting that no data breaches have occurred during the period.
Despite cyber attacks continuing to cost businesses millions of dollars, fewer than 40 per cent of executives surveyed say they have fully mitigated cybersecurity risk exposure in a number of critical areas.
This includes, enabling remote and hybrid work, 38 per cent say the cyber risk is fully mitigated; accelerated cloud adoption 35 per cent; increased use of internet of things 34 per cent; increased digitisation of supply chain 32 per cent and back office operations 31 per cent.
For operations-focused executives surveyed, cybersecurity of the supply chain is a major concern. Nine in ten expressed concern about their organisation’s ability to withstand a cyber attack…
