Connect with us

Hi, what are you looking for?

HEADLINES

Two-thirds of industrial organizations don’t report cybersecurity incidents to regulators

Kaspersky’s “State of Industrial Cybersecurity 2019” report shows that many companies are flouting reporting guidelines – perhaps to avoid regulatory punishments and public disclosure that can harm their reputation.

A  Kaspersky survey has discovered that two-thirds (67% ) of industrial organizations do not report cybersecurity incidents to regulators. Though remaining compliant in modern industrial business is a necessity and a driver for investment, there are many factors that influence how companies follow compliance rules.

In a world where cybercriminals are using sophisticated attacks to breach industrial companies, robust cybersecurity policies and keeping up with regulations have never been more important. From the General Data Protection Regulation (GDPR) to standards set by the International Electrotechnical Commission (IEC), industrial companies have a lot of requirements to adhere to.

However, Kaspersky’s “State of Industrial Cybersecurity 2019” report shows that many companies are flouting reporting guidelines – perhaps to avoid regulatory punishments and public disclosure that can harm their reputation. In fact, respondents said that more than half (52%) of incidents lead to a violation of regulatory requirements, while 63% of them consider loss of customer confidence in the event of a breach as a major business concern.

Apart from incident reporting, other survey results show that companies are taking compliance very seriously, with only a fifth (21% ) of industrial companies admitting that they do not currently comply with mandatory industry regulations. Crucially, organizations understand that regulatory demands must be met, despite their lack of reporting. Compliance is the top budget driver in cybersecurity investment strategies for 55%  of respondents. However, this focus on procedures may well be leading companies to become complacent over the quality of the cybersecurity solutions and not taking into account the actual threats – only 28% identified the threat landscape as a key budget driver.

“Industrial compliance and regulations should not be taken lightly. But it is also very important to keep in mind the real threat landscape that is changing dynamically. An efficient cybersecurity solution in combination with clear policy should help companies achieve the necessary level of protection in accordance with regulatory requirements. Such solutions should contain technology-oriented measures, vulnerability assessment and incident response measures, as well as security awareness initiatives for all employees who work with industrial automation systems,” comments Georgy Shebuldaev, Head of Kaspersky Industrial Cybersecurity Business Development, Kaspersky.

Advertisement. Scroll to continue reading.
Advertisement

Like Us On Facebook

You May Also Like

HEADLINES

Lazarus is one of today’s most prolific threat actors. Active since at least 2009, Lazarus has been involved in large-scale cyberespionage campaigns, ransomware campaigns,...

HEADLINES

Cybersecurity policy makers stressed the need for cybersecurity capacity building and investments in education in achieving cybersecurity preparedness to combat cyber threats.

HEADLINES

Canalys has found that Kaspersky improved in overall performance in the last 12 months, achieving a 12% year-on-year score increase. In the 2020 Canalys...

HEADLINES

While stalkerware is sometimes targeted at jealous partners for spying on their spouse and for employers to spy on their staff, the findings show...

HEADLINES

Kaspersky experts have analyzed malicious files behind nominated films as well as movie-related phishing websites designed to steal users’ credentials.

HEADLINES

According to the new report, cyberattacks on healthcare, manufacturing, and energy doubled from the year prior, with threat actors targeting organizations that could not...

HEADLINES

Providing a sense of security for its subscribers has pushed Converge to also provide quick access to online support while raising awareness through online...

HEADLINES

Poll shows how people are managing the pandemic as we approach the one-year anniversary of the start of large-scale quarantines that forced millions of...

Advertisement