Welcome!

News Feed Item

Economist Intelligence Unit and Arbor Networks Research Show 83 Percent of Businesses are Not Fully Prepared for an Online Security Incident

Arbor 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% in Asia-Pacific.

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.”

Key findings:

Level of preparedness is being held back by lack of understanding about threats

  • Only 17 percent of business leaders feel fully prepared for an incident.
  • 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 years.
  • 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.

Additional Resources:

  • Download the full report here
  • Visit the Arbor Networks blog for a summary of key findings
  • Follow @arbornetworks 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 Threat Portal.

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 respective owners.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
IBM helps FinTechs and financial services companies build and monetize cognitive-enabled financial services apps quickly and at scale. Hosted on IBM Bluemix, IBM’s platform builds in customer insights, regulatory compliance analytics and security to help reduce development time and testing. In his session at 21st Cloud Expo, Lennart Frantzell, a Developer Advocate with IBM, will discuss how these tools simplify the time-consuming tasks of selection, mapping and data integration, allowing devel...
SYS-CON Events announced today that Cedexis will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Cedexis is the leader in data-driven enterprise global traffic management. Whether optimizing traffic through datacenters, clouds, CDNs, or any combination, Cedexis solutions drive quality and cost-effectiveness.
SYS-CON Events announced today that Mobile Create USA will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Mobile Create USA Inc. is an MVNO-based business model that uses portable communication devices and cellular-based infrastructure in the development, sales, operation and mobile communications systems incorporating GPS capabi...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, will discuss how data centers of the future will be managed, how th...
There is huge complexity in implementing a successful digital business that requires efficient on-premise and cloud back-end infrastructure, IT and Internet of Things (IoT) data, analytics, Machine Learning, Artificial Intelligence (AI) and Digital Applications. In the data center alone, there are physical and virtual infrastructures, multiple operating systems, multiple applications and new and emerging business and technological paradigms such as cloud computing and XaaS. And then there are pe...
Why Federal cloud? What is in Federal Clouds and integrations? This session will identify the process and the FedRAMP initiative. But is it sufficient? What is the remedy for keeping abreast of cutting-edge technology? In his session at 21st Cloud Expo, Rasananda Behera will examine the proposed solutions: Private or public or hybrid cloud Responsible governing bodies How can we accomplish?
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
SYS-CON Events announced today that Keisoku Research Consultant Co. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Keisoku Research Consultant, Co. offers research and consulting in a wide range of civil engineering-related fields from information construction to preservation of cultural properties. For more information, vi...
Today most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes significant work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reducti...
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
Most of the time there is a lot of work involved to move to the cloud, and most of that isn't really related to AWS or Azure or Google Cloud. Before we talk about public cloud vendors and DevOps tools, there are usually several technical and non-technical challenges that are connected to it and that every company needs to solve to move to the cloud. In his session at 21st Cloud Expo, Stefano Bellasio, CEO and founder of Cloud Academy Inc., will discuss what the tools, disciplines, and cultural...
SYS-CON Events announced today that Enroute Lab will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enroute Lab is an industrial design, research and development company of unmanned robotic vehicle system. For more information, please visit http://elab.co.jp/.
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...
Today traditional IT approaches leverage well-architected compute/networking domains to control what applications can access what data, and how. DevOps includes rapid application development/deployment leveraging concepts like containerization, third-party sourced applications and databases. Such applications need access to production data for its test and iteration cycles. Data Security? That sounds like a roadblock to DevOps vs. protecting the crown jewels to those in IT.
What is the best strategy for selecting the right offshore company for your business? In his session at 21st Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, will discuss the things to look for - positive and negative - in evaluating your options. He will also discuss how to maximize productivity with your offshore developers. Before you start your search, clearly understand your business needs and how that impacts software choices.