Two-thirds of UK companies believe they are ‘highly protected’ and can adequately react to threats, but low ‘cyber IQ’ among employees poses a threat

LONDON, June 6 (Bernama-GLOBE NEWSWIRE) -- Two-thirds (63 percent) of UK businesses believe that their organisation is highly protected from attempts by outsiders to gain access to their systems and data, according to a survey by Willis Towers Watson. A similar proportion of organisations (66 percent) maintain that they have the right processes in place to adequately react to privacy and security threats.

The findings, from Willis Towers Watson’s Cyber Pulse Survey, illustrate responses from organisations and their employees on cyber security practices across the United States and United Kingdom. The survey found that a majority of companies feel that they are adequately prepared for cyberattacks on their organisations, despite the frequency and breadth of impact of cyberattacks across industries in recent years seemingly indicating the contrary.

However, the Survey also found that the disparity between corporate feelings of preparedness and the increasing number of cybersecurity incidents could be a result of lack of responsibility or accountability among employees, the human element of the cyber equation. UK employees ranked "insufficient understanding" (61 percent) as the biggest barrier to their organisation effectively managing its cyber risk. Nearly half (46 percent) spent 30 minutes or less on cybersecurity training in 2016, and over a quarter (27 percent) received none at all.

More concerning for employers is the discovery that of the employees that did complete cyber training, nearly two-thirds (62 percent) admitted they "only completed the training because it was required", and nearly half (44 percent) believe that "opening any email on their work computer is safe", suggesting that the employees may not be engaged or feel the personal accountability necessary to drive long-term, sustainable behaviours.

Anthony Dagostino, Head of Global Cyber Risk, Willis Towers Watson, said: “As the world has seen with the proliferation of phishing scams, most recently highlighted by the global WannaCry ransomware attack, the opening of just one suspicious email containing a harmful link or attachment can lead to a company-wide event. However there appears to be a disconnect between executive priorities around data protection and the need to invest in a cyber-savvy workforce through training, incentives and talent management strategies.”

Willis Towers Watson’s Survey also detailed additional barriers that companies feel impact their cyber preparedness and the degree to which corporations are providing cyber training to their employers. Some additional findings include:

“Hackers are exploiting the fact that while corporations are building walls of technology around their organisations and their networks, by far the biggest threat to corporate digital security and privacy continues to come from the employees within, often completely by accident,” said Dagostino. “A truly holistic cyber risk management strategy requires at its core a cyber-savvy workforce, however organisations first have to know where the vulnerabilities are in order to plug the gaps. Many organisations are facing talent deficiencies and skills shortages in their IT departments, which in turn are creating significant loopholes in their overall security measures. 

According to the Survey respondents, the costs associated with minimising cyber risk will continue to rise as technology evolves and becomes more sophisticated. This heavy emphasis on technology is crucial given the competing sophistication of cyber criminals, but it is also encouraging that human capital solutions and improvement of operating procedures will be a priority for over 70% of organisations in the next three years based on the Survey,” says Dagostino. 

About Willis Towers Watson

Willis Towers Watson (NASDAQ:WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 40,000 employees serving more than 140 countries. We design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.

Media contact

Jamie Kilduff: + 44 (0) 207 1703746
Jamie.kilduff@willistowerswatson.com

Claire Rumbellow: +44 (0) 207 4269433
willistowerswatson@cognitomedia.com

SOURCE : Willis Towers Watson Public Limited Company

--BERNAMA