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Economist Intelligence Unit and Arbor Networks Research Show 83 Percent of Businesses are Not Fully Prepared for an Online Security Incident
|By Business Wire
|March 18, 2014 04:00 AM EDT
Networks, Inc., a leading provider of DDoS and advanced threat
protection solutions for enterprise and service provider networks, today
announced the results of a survey it sponsored with the Economist
Intelligence Unit on the issue of incident response preparedness. The
Economist Intelligence Unit surveyed 360 senior business leaders, the
majority of whom (73%) are C-level management or board members from
across the world, with 31% based in North America, 36% in Europe and 29%
The report entitled “Cyber
incident response: Are business leaders ready?” shows
that despite 77 percent of companies suffering an incident in the past
two years, over a third of firms (38 percent) still have no incident
response plan in place should an incident occur. Only 17 percent of
businesses globally are fully prepared for an online security incident.
More prepared firms that do have a response plan in place typically rely
on the IT department to lead this process, but the majority also draw
upon external resources – primarily IT forensic experts, specialist
legal advisers and law enforcement experts.
“There is an encouraging trend towards formalizing corporate incident
response preparations. But with the source and impact of threats
becoming harder to predict, executives should make sure that incident
response becomes an organizational reflex rather than just a plan pulled
down off the shelf,” said James Chambers, a senior editor at The
Economist Intelligence Unit.
Arbor Networks President Matthew Moynahan added, “As these findings
show, when it comes to cyber-attacks, we live in a “when” not “if”
world. In the wake of recent high profile targeted attacks in the retail
sector, a company’s ability to quickly identify and classify and
incident, and execute a response plan, is critical to not only
protecting corporate assets and customer data, but the brand, reputation
and bottom line of the company.”
Level of preparedness is being held back by lack of understanding
Only 17 percent of business leaders feel fully prepared for an
41 percent of business leaders feel a better understanding of
potential threats would help them be better prepared.
Having a formal plan or team in place has a significant effect on
feeling of preparedness among executives.
Half of all companies feel that they are unable to predict the
business impact when a breach occurs.
Emphasis on reputation is driving formalization of plans and processes
Two-thirds of executives say that responding effectively to an
incident can enhance their firm’s reputation.
The percentage of organisations that now have an incident response
team and plan in place is set to rise above 80 percent in the next few
Firms that have suffered an incident in the past 24 months are twice
as likely to have an arrangement with a third party expert as firms
that have not suffered an incident.
Firms remain reticent about disclosing incidents and sharing
intelligence about threats
57 percent of organisations do not voluntarily report incidents where
they are not legally required to do so.
Only a third of companies share information about incidents with other
organisations to spread best practice and benchmark their own response.
Download the full report here
Visit the Arbor Networks blog
for a summary of key findings
on Twitter for more key findings
About The Economist Intelligence Unit
The Economist Intelligence Unit is the world leader in global business
intelligence. It is the business-to-business arm of The Economist Group,
which publishes The Economist newspaper. As the world's leading provider
of country intelligence, the Economist Intelligence Unit helps
executives make better business decisions by providing timely, reliable
and impartial analysis on worldwide market trends and business
strategies. More information about The Economist Intelligence Unit can
be found at www.eiu.com
or follow us on www.twitter.com/theeiu.
About Arbor Networks
Arbor Networks, Inc. helps secure the world’s largest enterprise and
service provider networks from DDoS attacks and advanced threats. Arbor
is the world’s leading provider of DDoS protection in the enterprise,
carrier and mobile market segments, according to Infonetics Research.
Arbor’s advanced threat solutions deliver comprehensive network
visibility through a combination of packet capture and NetFlow
technology, enabling the rapid detection and mitigation of malware and
malicious insiders. Arbor also delivers market leading analytics for
dynamic incident response, historical analysis, visualization and
forensics. Arbor strives to be a “force multiplier,” making network and
security teams the experts. Our goal is to provide a richer picture into
networks and more security context - so customers can solve problems
faster and help reduce the risk to their business.
To learn more about Arbor products and services, please visit our
website at arbornetworks.com.
Arbor’s research, analysis and insight, together with data from the ATLAS®
global threat intelligence system, can be found at the ATLAS
Trademark Notice: Arbor Networks, Peakflow, ArbOS, ATLAS, Pravail, Arbor
Optima, Arbor Cloud, Cloud Signaling, the Arbor Networks logo and Arbor
Networks: Smart. Available. Secure. are all trademarks of Arbor
Networks, Inc. All other brand names may be trademarks of their
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