|By Business Wire||
|February 24, 2014 07:01 PM EST||
New research released by BAE Systems Applied Intelligence today reveals that the majority of UK businesses (57%) now regard the threat from cyber attacks as one of their top three business risks. The research mirrors the recent warning from the World Economic Forum, which included cyber attacks in its 5 biggest threats facing the world in 2014.1 In the most recent research, conducted earlier this month, the majority of international respondents (58%) said that recent high profile cyber attacks on international businesses, including banks and retailers such as Target, have led to their organisation increasing its budget for cyber security.
The latest research comes as BAE Systems Applied Intelligence releases a new report, “Business and the Cyber Threat: The Rise of Digital Criminality”, based on a broader international survey2 which details business concerns and opinion around the cyber threat. It comes in the wake of a series of high profile attacks, where criminals have used highly sophisticated cyber techniques to conduct financial crime on a massive scale. It was immediately striking that organised fraudsters capable of carrying out increasingly sophisticated attacks are viewed by 67% of respondents in the UK (and 55% overall) as being the chief threat. This suggests that predictions that cyber-enabled fraud will become the new frontline in the war against digital criminality are rapidly becoming a reality.
Faced with these challenges it was alarming to note that a significant proportion of respondents internationally (30%) have concerns about their Board’s grasp of the risk posed by targeted cyber attacks. In the UK, however, confidence in Boards’ grasp of the issue was much greater – with 65% of UK respondents believing their Board fully appreciates the business risk presented by cyber attack.
Interestingly, the research showed that businesses’ awareness of the scale and size of the cyber threat appears to be growing, and the majority of respondents are confident that their organisations are well equipped to prevent targeted attacks, with 70% of UK companies possessing crisis plans in the event of a cyber attack. However, the research also found that a large majority of businesses (90% in the UK and 84% overall) expect the number of cyber attacks to increase over the next two years.
Martin Sutherland, Managing Director, BAE Systems Applied Intelligence, said:
“What this research clearly demonstrates is that whilst businesses are increasingly aware of the threat presented by digital criminality, the ever-evolving threat landscape means that there is a real need for continued agility in dealing with these threats. Digital crime as a whole - a dangerous combination of organised groups of criminals using cyber techniques to carry out financial crime on an industrialised scale - is a major concern, particularly since the most recent wave of high-profile attacks.
“We’re starting to see genuine interest from British businesses who realise that the threat of digital criminality is something that affects their whole business and is not just an IT issue. As the number of avenues open to criminals in a hyper-connected world increases, it is more essential than ever that organisations think carefully about the actions they need to take to protect themselves and their customers as effectively as possible.”
Further key UK findings include:
- Cost: In the UK, 40% of respondents estimated a successful cyber attack would cost their organisation more than £50 million, a further 10% of UK respondents said the cost would be more than £10 million.
- Concern: when asked what they would be most concerned about in the event of a successful attack, the most common responses was loss of customer data (60% of respondents internationally), theft of intellectual property (43%) and reputational damage (35%).
- Convergence: Organised groups of fraudsters were identified by respondents internationally as the most likely group to mount targeted cyber attacks. Of those respondents who had encountered cyber-enabled fraud, 77% of UK respondents expect cyber to play a greater role in financial fraud.
- Crisis Plans: 30% of UK organisations surveyed did not have, or were unaware of, crisis plans in the event of a cyber attack on their company. Of those respondents who did have crisis plans, 60% of UK respondents thought their companies’ plans were well publicised.
- Change: Majority of respondents internationally think that new business practices such as greater use of Mobile Technologies (71% of respondents) and Critical Operating Systems (69%) represent a significant cyber risk to their organisation.
The full report can be found at: http://www.baesystems.com/ai/cyberthreat
Notes to editors
1. From Global Risks 2014, published by the World Economic Forum in January 2014.
2. Our report, “Business and the Cyber Threat: the rise of Digital Criminality”, is based on 511 online interviews conducted by Ipsos MORI with strategic and IT decision makers in private sector companies in the US (300), UK(110), Australia (51) and Canada (50), carried out online using a business panel in Autumn 2013. Participants were drawn from companies with a turnover in excess of £350 million (or the equivalent in local currency) from a range of business sectors including Financial Services (Banking and Insurance), Telecoms, Energy, Transportation, Technology, Engineering, Mining, Legal, Media and Pharmaceutical. Additional research conducted with 256 respondents across US, UK, Canada and Australia was conducted online in February 2014 among a comparable audience.
3. Please contact us for a copy of the full report, or visit http://www.baesystems.com/ai/cyberthreat
About BAE Systems Applied Intelligence
We deliver solutions which help our clients to protect and enhance their critical assets in the intelligence age. Our intelligent protection solutions combine large-scale data exploitation, ‘intelligence-grade’ security and complex services and solutions integration.
We operate in four key domains of expertise: cyber security, financial crime, communications intelligence and digital transformation.
Leading enterprises and government departments use our solutions to protect and enhance their physical infrastructure, mission-critical systems, valuable intellectual property, corporate information, reputation and customer relationships, competitive advantage and financial success.
Applied Intelligence is part of BAE Systems, a global defence, aerospace and security company with approximately 90,000 employees worldwide. BAE Systems delivers a wide range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services. For more information, please visit www.baesystems.com
Cloud computing started a technology revolution; now DevOps is driving that revolution forward. By enabling new approaches to service delivery, cloud and DevOps together are delivering even greater speed, agility, and efficiency. No wonder leading innovators are adopting DevOps and cloud together! In his session at DevOps Summit, Andi Mann, Vice President of Strategic Solutions at CA Technologies, explored the synergies in these two approaches, with practical tips, techniques, research data, wa...
May. 24, 2015 11:00 AM EDT Reads: 6,495
SYS-CON Events announced today that EnterpriseDB (EDB), the leading worldwide provider of enterprise-class Postgres products and database compatibility solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. EDB is the largest provider of Postgres software and services that provides enterprise-class performance and scalability and the open source freedom to divert budget from more costly traditiona...
May. 24, 2015 11:00 AM EDT Reads: 1,375
Enterprises are fast realizing the importance of integrating SaaS/Cloud applications, API and on-premises data and processes, to unleash hidden value. This webinar explores how managers can use a Microservice-centric approach to aggressively tackle the unexpected new integration challenges posed by proliferation of cloud, mobile, social and big data projects. Industry analyst and SOA expert Jason Bloomberg will strip away the hype from microservices, and clearly identify their advantages and d...
May. 24, 2015 10:45 AM EDT Reads: 1,135
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
May. 24, 2015 10:30 AM EDT Reads: 5,076
Data-intensive companies that strive to gain insights from data using Big Data analytics tools can gain tremendous competitive advantage by deploying data-centric storage. Organizations generate large volumes of data, the vast majority of which is unstructured. As the volume and velocity of this unstructured data increases, the costs, risks and usability challenges associated with managing the unstructured data (regardless of file type, size or device) increases simultaneously, including end-to-...
May. 24, 2015 10:30 AM EDT Reads: 4,076
If cloud computing benefits are so clear, why have so few enterprises migrated their mission-critical apps? The answer is often inertia and FUD. No one ever got fired for not moving to the cloud - not yet. In his session at 15th Cloud Expo, Michael Hoch, SVP, Cloud Advisory Service at Virtustream, discussed the six key steps to justify and execute your MCA cloud migration.
May. 24, 2015 10:30 AM EDT Reads: 2,726
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
May. 24, 2015 10:00 AM EDT Reads: 1,793
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists will peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud en...
May. 24, 2015 10:00 AM EDT Reads: 1,666
Can the spatial component of your Big Data be harnessed and visualized, adding another dimension of power and analytics to your data? In his session at Big Data Expo®, John Meza, Product Engineer and Performance Engineering Team Lead at Esri, discussed the spatial queries that can be used within the Hadoop ecosystem and their integration with GeoSpatial applications. The GIS Tools for Hadoop project was also discussed and its implementation to discover location-based patterns and relationships...
May. 24, 2015 09:30 AM EDT Reads: 3,421
“We are strong believers in the DevOps movement and our staff has been doing DevOps for large enterprise environments for a number of years. The solution that we build is intended to allow DevOps teams to do security at the speed of DevOps," explained Justin Lundy, Founder & CTO of Evident.io, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
May. 24, 2015 09:30 AM EDT Reads: 4,510
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
May. 24, 2015 09:30 AM EDT Reads: 6,402
You often hear the two titles of "DevOps" and "Immutable Infrastructure" used independently. In his session at DevOps Summit, John Willis, Technical Evangelist for Docker, will cover the union between the two topics and why this is important. He will cover an overview of Immutable Infrastructure then show how an Immutable Continuous Delivery pipeline can be applied as a best practice for "DevOps." He will end the session with some interesting case study examples.
May. 24, 2015 09:00 AM EDT Reads: 1,497
Docker is becoming very popular--we are seeing every major private and public cloud vendor racing to adopt it. It promises portability and interoperability, and is quickly becoming the currency of the Cloud. In his session at DevOps Summit, Bart Copeland, CEO of ActiveState, discussed why Docker is so important to the future of the cloud, but will also take a step back and show that Docker is actually only one piece of the puzzle. Copeland will outline the bigger picture of where Docker fits a...
May. 24, 2015 09:00 AM EDT Reads: 5,996
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
May. 24, 2015 09:00 AM EDT Reads: 1,331
SYS-CON Media named Andi Mann editor of DevOps Journal. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Andi Mann, Vice President, Strategic Solutions, at CA Technologies, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, communicator, and thought lea...
May. 24, 2015 09:00 AM EDT Reads: 1,093