Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Economist Intelligence Unit and Arbor Networks Research Show 83 Percent of Businesses are Not Fully Prepared for an Online Security Incident  Join our daily free Newsletter

MENAFN Press - 20/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN Press) Arbor Networks, Inc., a leading provider of DDoS and advanced threat protection solutions for enterprise and service provider networks, today announced the results of a survey it sponsored with the Economist Intelligence Unit on the issue of incident response preparedness. The Economist Intelligence Unit surveyed 360 senior business leaders, the majority of whom (73%) are C-level management or board members from across the world, including the Middle East



The report entitled "Cyber incident response: Are business leaders ready?" shows that despite 76 percent of companies suffering an incident in the past two years, over a third of firms (39 percent) still have no incident response plan in place should an incident occur. Only 17 percent of businesses globally are fully prepared for an online security incident



Mahmoud Samy, Area Head, Middle East, Pakistan and Afghanistan at Arbor Networks says, "Middle East enterprises are increasingly experiencing data breaches, denial of service attacks, systems errors and outages, having a significant impact in terms of business disruption, financial losses and loss of reputation. Regional organizations are waking up to the fact that they need to manage these data-related incidents more effectively by having response plans, technology and systems in place to guard against potential internal and external threats.



More prepared firms that do have a response plan in place typically rely on the IT department to lead this process, but the majority also draw upon external resources “ primarily IT forensic experts, specialist legal advisers and law enforcement experts



"There is an encouraging trend towards formalizing corporate

Incident response preparations. But with the source and impact of threats becoming harder to predict, executives should make sure that incident response becomes an organizational reflex rather than just a plan pulled down off the shelf," said James Chambers, a senior editor at The Economist Intelligence Unit



Arbor Networks President Matthew Moynahan added, "s these findings show, when it comes to cyber-attacks, we live in a "when" not "if" world. In the wake of recent high profile targeted attacks in the retail sector, a company's ability to quickly identify and classify and incident, and execute a response plan, is critical to not only protecting corporate assets and customer data, but the brand, reputation and bottom line of the company.




Key findings



Level of preparedness is being held back by lack of understanding about threat



Only 17 percent of business leaders feel fully prepared for an incident



40 percent of business leaders feel a better understanding of potential threats would help them be better prepared.



Having a formal plan or team in place has a significant effect on feeling of preparedness among executives



Half of all companies feel that they are unable to predict the business impact when a breach occurs.



Emphasis on reputation is driving formalisation of plans and processe



Two-thirds of executives say that responding effectively to an incident can enhance their firm's reputation



The percentage of organisations that now have an incident response team and plan in place is set to rise above 80 percent in the next few years



Firms that have suffered an incident in the past 12 months are twice as likely to have an arrangement with a third party expert as firms that have not suffered an incident



Firms remain reticent about disclosing incidents and sharing intelligence about threat



57 percent of organisations do not voluntarily report incidents where they are not legally required to do so



Only a third of companies share information about incidents with other organisations to spread best practice and benchmark their own response



Additional Resources:



Download the full report her



Visit the Arbor Networks blog for a summary of

Key finding



Follow @arbornetworks on Twitter for more key finding


About The Economist Intelligence Unit
The Economist Intelligence Unit is the world leader in global business intelligence. It is the business-to-business arm of The Economist Group, which publishes The Economist newspaper. As the world's leading provider of country intelligence, the Economist Intelligence Unit helps executives make better business decisions by providing timely, reliable and impartial analysis on worldwide market trends and business strategies. More information about The Economist Intelligence Unit can be found at www.eiu.com or follow us on www.twitter.com/theeiu.About Arbor NetworksArbor Networks, Inc. helps secure the world's largest enterprise and service provider networks from DDoS attacks and advanced threats. Arbor is the world's leading provider of DDoS protection in the enterprise, carrier and mobile market segments, according to Infonetics Research. Arbor's advanced threat solutions deliver comprehensive network visibility through a combination of packet capture and NetFlow technology, enabling the rapid detection and mitigation of malware and malicious insiders. Arbor also delivers market leading analytics for dynamic incident response, historical analysis, visualization and forensics. Arbor strives to be a "force multiplier", making network and security teams the experts. Our goal is to provide a richer picture into networks and more security context - so customers can solve problems faster and help reduce the risk to their business.

 


MENAFN Press




  MENA News Headlines
 Feb 12 2016 - Egypt logs 16.5pct drop in non-oil exports over 2015MENAFN
(MENAFN) Egypt's non-petroleum exports saw a 16.5 percent decline in value throughout the previous year as opposed to 2014, based on recent reports.Based on Egypt's General Authority for Export and ...

 Feb 12 2016 - UAE's new theme park's expenditure hits USD1.5bMENAFN
(MENAFN) Set to open its doors this Oct. the all new Dubai Parks and Resorts along with its land has had its overall project expenditure hit USD1.5 billion at the end of last year as opposed to much ...

 Feb 12 2016 - ACWA Power to collect USD8b debt in H1MENAFN
(MENAFN) ACWA Power, the Saudi-based power generation and desalinated water production plants' operator, intends to raise USD8 billion of debt over the first six month of the current year, according ...

 Feb 12 2016 - Spain dismantles falcon trafficking ring destined for UAE racesThe Peninsula
(MENAFN - The Peninsula) (file photo / Reuters ) Madrid: Spanish police said Thursday they had dismantled an international ring that smuggled falcons to the United Arab Emirates where ...

 Feb 12 2016 - Russia raises spectre of world war if nations fail to negotiate over SyriaThe Peninsula
(MENAFN - The Peninsula) Russian Prime Minister DmitryMedvedevchairs a meeting with ministers and top officials on social and economic policy in Moscow on February 10 2016. REUTERS ...

 Feb 12 2016 - Germany offers 500 mln euros in credits to IraqThe Peninsula
(MENAFN - The Peninsula) German Chancellor AngelaMerkel(L) and Iraqi Prime Minister Haider al-Abadi shake hands at a joint press conference after meeting at the Chancellery in Berlin on February 11 ...

 Feb 12 2016 - Russia claims US planes bombed Syria's AleppoThe Peninsula
(MENAFN - The Peninsula) Stalls are seen on a street beside damaged buildings in the rebel held al-Shaar neighborhood of Aleppo Syria February 10 2016. REUTERS Moscow:Russia's defence ...

 Feb 12 2016 - Erdogan threatens to send refugees to EU as NATO steps inThe Peninsula
(MENAFN - The Peninsula) Syrian people wait in front of the Oncupinar crossing gate to go back to Syria near the town of Kilis in south-central Turkey on February 11 2016. AFP Ankara:Turkish ...

 Feb 12 2016 - Qatar- LNG deal 'key to Pakistan's prosperity'The Peninsula
(MENAFN - The Peninsula) Pakistan Prime Minister Nawaz Sharif addressing members of the Pakistani community at the Four Seasons hotel yesterday. Pic: Abdul Basit / The Peninsula DOHA: ...

 Feb 12 2016 - Qatar- Emir visits Al Qassar Metro Station projectThe Peninsula
(MENAFN - The Peninsula) Emir H H Sheikh Tamim bin Hamad Al Thani is briefed on the project by Minister of Transport and Communications H E Jassim bin Saif Al Sulaiti. Doha: Emir H H Sheikh Tamim ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help