BUSINESS surveillance
While organisations increasingly fall victim to cybercriminals , the attacks used to compromise networks are familiar to defenders .
Cyberincidents have far-reaching impacts
Cybersecurity incidents have increasingly significant impacts on organisations , ranging from financial to reputational challenges . More than half ( 53 %) of leaders say breaches cost their organisations over US $ 1 million in 2023 , with North America and APAC reporting the most financially damaging attacks . Regarding recovery time , 63 % said it took more than one month to bounce back from a cyberattack , with the average time being nearly three months .
In addition to monetary ramifications and lengthy recovery times , corporate leaders are held accountable when breaches occur : 51 % of IT and security leaders say that board members or executives have faced fines , jail time , loss of their position and loss of employment following a cyberattack .
A robust cybersecurity programme requires technology , training and awareness
The stakes are high for organisations when it comes to cybersecurity . Breaches continue to take a financial toll and senior leaders are sometimes penalised when they happen . With the growing skills gap creating additional risks for organisations , many businesses are embracing new , creative approaches to recruiting , hiring and retaining skilled professionals . It ’ s encouraging that leaders pursue unique initiatives and collaborate across the public and private sectors to address this challenge , as this is a crucial piece of the puzzle when it comes to strengthening an organisation ’ s overall defences .
Given these complexities , organisations should focus on a three-pronged approach to cybersecurity that
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