http://blogs.wsj.com/riskandcompliance/2014/07/11/survey-roundup-cybersecurity-complacency-threatens-ma-deals/
By BEN DIPIETRO
Wall Street Journal
July 11, 2014
Taking Risks for Granted: A global survey of 214 senior dealmakers by law
firm Freshfields Bruckhaus Deringer found a worrying level of complacency
toward the assessment of cyber risks during M&A deals. The survey found
90% of respondents said cyber breaches would result in a reduction in deal
value, but 78% say cybersecurity isn’t a risk that is currently analyzed
in-depth or dealt with in deal due diligence. On the bright side,
awareness of the threat posed by cyberattacks is growing, with 82% saying
the risk of cyberattacks will change deal processes over the next 18
months.
“It’s surprising that dealmakers recognize the growing threat of
cyberattacks to businesses, but generally aren’t addressing that risk
during deals,” said Chris Forsyth, co-head of the firm’s international
cybersecurity team. “You wouldn’t dream of buying a chemicals plant
without assessing environmental risk, so why would you buy a data-driven
business without assessing the risks it faces around data management and
cybersecurity?”
No Policy Required: Seven in 10 small-business owners and 30% of C-suite
executives say their companies don’t have a cybersecurity policy,
according to the Security Tracker survey from information security firm
Shred-it. The survey found 38% of C-suite execs say they have an employee
directly responsible for managing data security issues at the management
level.
Sharing is Not Caring: A survey from software security company IS
Decisions of 1,000 U.S. and 1,000 U.K. desk-based workers found 23% of
respondents said they have shared their password with one or more of their
colleagues, and 22% saying they share their work logins more frequently
now than they did two years ago.
[...]
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