36% of CTOs are not disclosing data breaches

36% of CTOs are not disclosing data breaches

The 2021 Cybersecurity Census Report by Keeper Security has revealed that almost two-thirds (36%) of IT leaders polled are not disclosing data breaches due to fear of losing their jobs.

1,000 IT decision-makers in the UK at businesses were polled to compile the report, which revealed that security breaches were commonplace. 92% of respondents stated that their organisation had experienced an attack in the past year, and 72% were successfully breached at least once.

The report also highlighted that the financial implications of the successful attacks varied, with the most common cost being between £10,000 and £49,000, accounting for 23% of respondents.

Screenshot from Keeper Security’s 2021 Cybersecurity Census Report

The pressure senior IT leaders are currently facing is greater than ever before. They are continuing to protect their organisations – often with limited resources – while the pandemic is rapidly changing the world around them. With this in mind, it comes as no surprise that nearly all (92%) of respondents are aware of gaps in their organisation’s defences, with only 40% addressing these issues.

32% admitted to using weak credentials such as “password” or “admin” to protect data, and 36% admitted to keeping a cyber attack quiet.

The immense pressure senior IT leaders are under in their roles is causing them to frequently ignore their own security advice, which can ultimately lead to serious ramifications.

“UK businesses are clearly worried about their cybersecurity and the challenges are manifold, affecting everything from budgets to productivity,” said Darren Guccione, CEO and Co-Founder of Keeper Security.

“Companies are facing many competing challenges right now and, understandably, might not always make cybersecurity investments a priority. Our report is an urgent reminder for organizations to proactively address their cybersecurity challenges as a priority, since deferring them will make the consequences far more severe.”

Copyright Lyonsdown Limited 2021

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