DALLAS, July 5, 2016 /PRNewswire/ -- Only a fifth of IT
decision makers in large multinational corporations are confident
that their organisation is fully prepared against the threat of
cyber-criminals. The vast majority of companies feel constrained by
regulation, available resources and a dependence on third parties
when responding to attacks, according to new research from BT and
KPMG.
The report, Taking the Offensive – Working together to
disrupt digital crime finds that, while 94 per cent of IT
decision makers are aware that criminal entrepreneurs are
blackmailing and bribing employees to gain access to organisations,
roughly half (47 per cent) admit that they don't have a strategy in
place to prevent it.
The report also finds that 97 per cent of respondents
experienced a cyber-attack, with half of them reporting an increase
in the last two years. At the same time, 91 per cent of respondents
believe they face obstacles in defending against digital attack,
with many citing regulatory obstacles, and 44 per cent being
concerned about the dependence on third parties for aspects of
their response.
Mark Hughes, CEO Security, BT,
said: "The industry is now in an arms race with professional
criminal gangs and state entities with sophisticated tradecraft.
The twenty-first century cyber criminal is a ruthless and efficient
entrepreneur, supported by a highly developed and rapidly evolving
black market."
"With cyber-crime continuing to escalate, a new approach to
digital risk is needed – and that means putting yourself in the
shoes of attackers. Businesses need to not only defend against
cyber-attacks, but also disrupt the criminal organisations that
launch those attacks. They should certainly work closer with law
enforcement as well as partners in the cyber security
marketplace."
Paul Taylor, UK Head of Cyber
Security, KPMG said: "It's time to think differently about cyber
risk – ditching the talk of hackers – and recognising that our
businesses are being targeted by ruthless criminal entrepreneurs
with business plans and extensive resources – intent on fraud,
extortion or theft of hard won intellectual property."
"Talking generically about cyber risk doesn't deliver insight.
You need to think about credible attack scenarios against your
business and consider how cyber security, fraud control, and
business resilience work together to prepare for, and deal with
those threats. If that's done, then cyber security can become a
mainstream corporate strategy as a vital component of doing
business in the digital world."
The BT-KPMG report shows that Chief Digital Risk Officers
(CDROs) are now being appointed to hold strategic roles which
combine digital expertise with high-level management skills. With
26 per cent of respondents confirming that a CDRO has already been
appointed, the report's data suggests that the security role and
accountability for it is being re-examined.
The research also flags the need for budgets to be adjusted,
with 60 per cent of decision makers reporting that their
organisation's cyber security is currently financed by the central
IT budget while half of those (50 per cent) think it should come
from a separate security budget. One major challenge identified by
the report is the funding and scale of R&D spending that the
criminals can bring to bear on breaching the defences of target
companies.
The "Taking the Offensive – Working together to disrupt
digital crime" extensively quotes a number of security
directors of well-known global organisations and lists examples of
the many forms of criminal attacks encountered by global
organisations, including various types of malware or phishing
attacks. It also describes the business models favoured by the
criminals and the black market behind them, whether they carry out
high-end targeted assaults on the finance system or regular attacks
on businesses and high net worth individuals, or even the
commoditised attacks affecting all of us.
The conclusions of the research point to the need to change
mindset and to regard security not simply as a defence exercise. It
is, in fact, the enabler that facilitates digital innovation and
ultimately drives profit.
BT and KPMG are now engaging with large organisations around the
world to debate the learning points of their joint research and
advise on the changes that need to be undertaken. The report is
available for download on bt.com/taking-the-offensive.
Notes to Editors
The findings and recommendations in
the "Taking the Offensive – Disrupting Cyber Crime" report are
drawn from interviews conducted in partnership with Vanson Bourne with directors responsible for IT,
resilience and business operations at major companies in the US,
the UK, Singapore, India and Australia. To download the report, visit
bt.com/taking-the-offensive.
About BT
BT's purpose is to use the power of
communications to make a better world. It is one of the world's
leading providers of communications services and solutions, serving
customers in 180 countries. Its principal activities include the
provision of networked IT services globally; local, national and
international telecommunications services to its customers for use
at home, at work and on the move; broadband, TV and internet
products and services; and converged fixed-mobile products and
services. With effect from 1 April
2016, the group has been reorganised and the customer-facing
lines of business are now: Global Services, Business and
Public Sector, Consumer, EE, Wholesale and Ventures, and
Openreach.
For the year ended 31 March 2016,
BT Group's reported revenue was £19,042m with reported profit
before taxation of £3,029m.
British Telecommunications plc (BT) is a wholly-owned subsidiary
of BT Group plc and encompasses virtually all businesses and assets
of the BT Group. BT Group plc is listed on stock exchanges in
London and New York.
For more information, visit www.btplc.com
About KPMG
KPMG LLP, a UK limited liability
partnership, operates from 22 offices across the UK with
approximately 12,000 partners and staff. The UK firm recorded
a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of
professional firms providing Audit, Tax, and Advisory services. It
operates in 155 countries and has 174,000 professionals working in
member firms around the world. The independent member firms of the
KPMG network are affiliated with KPMG International Cooperative
("KPMG International"), a Swiss entity. Each KPMG firm is a
legally distinct and separate entity and describes itself as
such.
Photo -
http://photos.prnewswire.com/prnh/20160705/386163-INFO
Logo - http://photos.prnewswire.com/prnh/20150929/271848LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/industrialisation-of-cybercrime-is-disrupting-digital-enterprises-300294046.html
SOURCE BT