People known to a company rank amongst the biggest threats
Staff, service providers, suppliers or business partners are rated among the biggest risks for Kiwi companies, according to the latest PwC’s global state of information security survey.
The study showed that 29.6% of respondents said current staff were responsible for cyber-attacks in New Zealand.
PwC Partner and Cyber Practice Leader Adrian van Hest said: “The ‘unknown hacker’ was picked as the largest category responsible for cyber-attacks and that’s because attribution is difficult and most companies end up not knowing where or who the attackers are. However, it became clear that people known to the company were also among the biggest threats.
"We've seen that the amount being invested in cybersecurity is increasing, but the number and cost of incidents are also increasing. So while there's continued spending, it doesn't mean that the investments are effective or that they're being spent on the right things."
The findings also revealed that new business models present different cyber risks. The ongoing uptake of cloud computing and reliance on mobile devices brings new risks – not because the technologies are not safe, but because they require companies to take a different approach to the way they manage cybersecurity.
Van Hest said investment in identity management is growing faster overseas and Kiwi companies are slightly behind this trend as most of New Zealand cyber incidents occur because of outdated software. “However, as more businesses move to the cloud, it’s only a matter of time before we face the same risks,” he said.
The report concluded that cybersecurity is no longer just an issue for IT departments – it’s an issue that cuts across our entire digital society.
PwC said companies that stay competitive in our digital landscape can’t blindly trust that their businesses and customer data will stay secure.
Related stories:
Government issues cyber-warning to businesses
How prepared is the NZ insurance industry for its biggest risk?
The study showed that 29.6% of respondents said current staff were responsible for cyber-attacks in New Zealand.
PwC Partner and Cyber Practice Leader Adrian van Hest said: “The ‘unknown hacker’ was picked as the largest category responsible for cyber-attacks and that’s because attribution is difficult and most companies end up not knowing where or who the attackers are. However, it became clear that people known to the company were also among the biggest threats.
"We've seen that the amount being invested in cybersecurity is increasing, but the number and cost of incidents are also increasing. So while there's continued spending, it doesn't mean that the investments are effective or that they're being spent on the right things."
The findings also revealed that new business models present different cyber risks. The ongoing uptake of cloud computing and reliance on mobile devices brings new risks – not because the technologies are not safe, but because they require companies to take a different approach to the way they manage cybersecurity.
Van Hest said investment in identity management is growing faster overseas and Kiwi companies are slightly behind this trend as most of New Zealand cyber incidents occur because of outdated software. “However, as more businesses move to the cloud, it’s only a matter of time before we face the same risks,” he said.
The report concluded that cybersecurity is no longer just an issue for IT departments – it’s an issue that cuts across our entire digital society.
PwC said companies that stay competitive in our digital landscape can’t blindly trust that their businesses and customer data will stay secure.
Related stories:
Government issues cyber-warning to businesses
How prepared is the NZ insurance industry for its biggest risk?
