PwC in Ireland has this month launched its 2018 Global State of Information Security Survey (GSISS), based on responses of more than 9,500 senior business and technology executives from 122 countries including Ireland.
The survey shows that Irish organisations are still slow to invest in appropriate security measures, with most ignoring areas such as cyber awareness and global security standards.
Forty percent of survey respondents cite the disruption of operations as the biggest consequence of a cyberattack, followed by the compromise of sensitive data (39%), harm to product quality (32%), and harm to human life (22%).
Forty-four percent of the 9,500 executives in 122 countries, including Ireland, surveyed say they do not have an overall information security strategy and nearly half (48%) do not have an employee security awareness training programme.
The report shows that the soaring production of insecure internet-of-things (IoT) devices is creating widespread cybersecurity vulnerabilities and massive cybersecurity breaches have become almost commonplace, regularly grabbing headlines that alarm consumers and leaders.
But for all of the attention such incidents have attracted in recent years, many organisations worldwide still struggle to comprehend and manage emerging cyber risks in an increasingly complex digital society.
Speaking about the report, Cyber Leader at PwC Ireland, Pat Moran said, "Few business issues permeate almost every aspect of business and commerce like cybersecurity does today. Public-private coordination is critical to effectively addressing cybersecurity. The bottom line is that leaders can seize the opportunity now to take meaningful actions designed to bolster the cyber resilience of their organisations, withstand disruptive cyber threats and build a secure digital society."