Chief Technology Officers aka CTOs, as they are not ready to take the blame for cyber attacks and so are hiding secrets related to digital attacks, says research carried out by Keeper Security. The password management company has insisted that such scenarios often deteriorate the efforts carried out to bolster security and, as a result, it can break a business within no time.
Among the 1000 who took part in the research, 36% of them admitted they will never reveal the attack details outside as it could tarnish the image of the company and can also make them lose their valuable jobs.
The 2021 Cybersecurity Census Report released by the Illinois based security firm confirmed that nearly 78% of survey respondents are unprepared or under-prepared for cyber threats and 92% feel that they cannot win state funded attacks, as they lack sophistication due to budget constraints.
Going with the financial implications, nearly 2 in 10 businesses have witnessed a security breach in the past one year and are not confident enough that they can sustain another such attack near-time.
While most of the technology heads agree budget issues are causing a lot of trouble in training and creating awareness among employees, almost half of them admit they lack technical expertise to guide them through scenarios.
Interestingly, over 66% of organizations admit that they have relaxed their security policies to support productivity in the past 6-8 months……surprising…. isn’t it?
Darren Guccione, the CEO of Keeper Security, lent his support to the CEOs and CTOs of UK businesses. Since they are facing a lot of challenges such as rising inflation and production costs, understandably, this is leading to a situation of cost cutting some of the perennial costs. And this is where cybersecurity is taking an initial big hit!