More attention needed on technologies and trends on the horizon
TORONTO, Nov. 19, 2013 /CNW Telbec/ - While Canadian organizations say
they're focused on fending off cyber risks, more than half of those
surveyed report an increase in security incidents over the last 12
months, EY finds in a new survey. That's a 29% spike over the 2012
The news comes despite the fact that a further 53% of Canadian
respondents said they'd increased their security budget over the last
"Canadian companies acknowledge the threat of known cyber risks, but
they're comparatively conservative in the way they're tackling that
threat," says Rafael Etges, EY's Information Security practice leader
in Toronto. "It's not so much about handling what's happening right
now, but uncovering the still hidden or unknown cyber threats that are
right around the corner, and planning accordingly."
Under cyber-attack: EY's Global Information Security Survey 2013 shows only 13% of Canadian respondents prioritize the innovation of
security services and technologies to address new and emerging threats.
"Leading businesses do an excellent job of scanning the horizon for the
vulnerabilities and risks that often come with new technology," Etges
explains. "Organizations need to review, rethink and, in some cases,
completely redesign their information security program to prepare for
future technologies in order to capture the full potential benefits of
In fact, the survey finds Canada is lagging behind most developed
economies in terms of innovation, and trails emerging economies such as
Latin America and Asia. Etges pegs this to a mix of factors, including
risk appetite, market and culture. The good news is that unlike their
global counterparts, Canadian respondents name overall cyber
security/threats as a top priority for the next 12 months.
Etges concludes: "Businesses need to be more forward looking. That means
having an ongoing process in place for assessing risks. Such a rigorous
and robust, paired with innovative information security solutions, will
bolster a business's ability to plan for the future, and react quickly
should challenges arise."
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SOURCE: ERNST & YOUNG
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