Cisco said over one-third of organizations that experienced a cyber security breach in 2016 reported substantial customer, opportunity and revenue loss of more than 20 percent according to latest Annual Cybersecurity Report (ACR) which examines security professionals’ perceptions of the state of security in their organizations.
The report highlights key findings from the third annual Cisco Security Capabilities Benchmark Study (SCBS). According Cisco, 90 percent of these organizations are improving threat defense technologies and processes after attacks by separating IT and security functions (38 percent), increasing security awareness training for employees (38 percent), and implementing risk mitigation techniques (37 percent).
Olakunle Oluruntimehin, general manager, Cisco Nigeria said “In Nigeria, we recognize that the penetration of mobile and growth in internet usage also means that we are more vulnerable to cybercrimes. That is why we leverage our partners, the Cisco Networking Academy program and certifications in addition to typical customer enablement activities to grow our Security market share. Cisco shares geopolitical trends, global developments around data localization, and the importance of cybersecurity as a boardroom topic. The report surveyed nearly 3,000 chief security officers (CSOs) and security operations leaders from 13 countries in the Security Capabilities Benchmark Study, part of the Cisco ACR.
The global report highlights challenges and opportunities for security teams to defend against the relentless evolution of cybercrime and shifting attack modes. Chief security Officers (CSOs) cite budget constraints, poor compatibility of systems, and a lack of trained talent as the biggest barriers to advancing their security postures.