FICO Survey: US Firms Are Too Confident About Their Cybersecurity
Highlights:
- 68 percent of US firms surveyed said they are better prepared for data breaches than their competitors — up from 60 percent last year
- Of the eight regions surveyed, Canadians were more likely to rate their firm a top performer for cybersecurity
- Power and utilities providers respondents in the US were the most confident, or least realistic, with 86 percent rating their firms above average or top performers
- Financial services respondents were the least confident, or most realistic, with 60 percent rating their firms above average or top performers
- Ovum conducted telephone surveys for FICO of security executives at 500 companies in the US and 10 other countries.
- FICO will host a Tweet Chat on this survey,
July 19th at11.00 am Eastern Time ,8:00 am Pacific Time ,4:00 pm UK Time. Use #cybertrends to follow the discussion.
Despite the growth in data breaches, senior executives at US firms think their cybersecurity protection is top-notch, according to a new survey conducted by research and consultancy firm Ovum for
More information: http://www.fico.com/en/latest-thinking/ebook/usa-views-from-the-c-suite-survey-2018
FICO will host a Tweet Chat on this survey,
Among U.S. industries, power and utilities providers were the most confident of all — 86 percent said their firm was a top performer or better than average. Telecommunications providers were second, with 72 percent saying their firm was top or better than average for cyber-readiness. The least confident — or most realistic — respondents were in financial services, where 60 percent reported their firm being a top industry performer or better than average.
Despite this, only 44 percent of telecommunications providers believe their firm's cybersecurity position will improve in a year's time. In fact, the same percentage of respondents believes their firm's position will remain the same, showing a lack of confidence in their firm keeping up with the latest cybersecurity threats.
"Firms have a lot to lose when it comes to their privacy and security risk and must have an accurate picture of how protected they really are," said Doug Clare, vice president for cybersecurity solutions at FICO. "These figures point to the fact that many firms don't know how they compare against to their competitors, which could lead to an under-investment in cybersecurity protection. Based on the survey results, many organizations would be surprised by what an objective view from the FICO Enterprise Security Score could tell them about their relative levels of cyber risk."
"IT leaders have greater funding than ever to protect organizations from the continuously evolving threat landscape and meet complex compliance demands," said
Ovum conducted the survey for FICO through telephone interviews with 500 senior executives, mostly from the IT function, in businesses from the US,
Last month, FICO announced that it is offering free subscriptions to the Portrait portal of the FICO® Enterprise Risk Suite, which gives businesses access to their FICO® Enterprise Security Score. The score, a machine learning-based cybersecurity rating service, can show organizations how business partners and cyber insurance underwriters see their network security, and can help them benchmark their performance. More information is at http://securityscore.fico.com.
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About Ovum
Ovum is a market-leading research and consulting firm focused on helping digital service providers and their vendor partners thrive in the connected digital economy. Through its 150 analysts worldwide, it offers expert analysis and strategic insight across the IT, telecoms, and media industries. Founded in 1985, Ovum has one of the most experienced analyst teams in the industry and is a respected source of guidance for technology business leaders, CIOs, vendors, service providers, and regulators looking for comprehensive, accurate, and insightful market data, research, and consulting. With 23 offices across six continents, Ovum offers a truly global perspective on technology and media markets and provides thousands of clients with insight including workflow tools, forecasts, surveys, market assessments, technology audits, and opinion.
Ovum is part of the
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SOURCE FICO
Media, Greg Jawski for FICO, Email: greg.jawski@porternovelli.com, Phone: +1 212-601-8248