New data from the 2018 Chubb Cyber Risk Survey shows people and companies have a false sense of cybersecurity and aren’t really doing much about it.
It’s a safe assumption to think that most everyone is very much aware of cyber threats, phishing attacks, ransomware, social engineering, and other cyberattacks. In fact, Chubb’s new risk report makes the case this is so – with 86% of people concerned about a cyber breach.
With such a large percentage of people aware, it’s surprising to find out that the very same people are completely unprepared for any kind of cyber attack. Consider these stats:
- Only 30% regularly change passwords
- Only 29% use multi-factor authentication
- Only 40% have malware protection in place
According to the Chubb report, employers should be leading the charge. And yet, while 75% of respondents say their company has cyber security practices and solution in place, Chubb has experienced a 930% increase in cyber insurance claims over the last 10 years.
So, what are companies doing about cyber risk?
- 89% of respondents say the cyber security policies their company have in place are simple in nature.
- Only 33% of respondents say their company holds some kind of company-wide cyber security training annually.
In short, companies aren’t doing enough either.
This is a recipe for disaster – organizations not implementing appropriate security controls, nor creating a proper security culture through Security Awareness Training only keeps these unaware users in the dark, making them a greater liability for the organization, and the reason for an increase in risk.
Are your user’s passwords…P@ssw0rd? Verizon's Data Breach Report showed that 81% of hacking-related breaches used either stolen and/or weak passwords. Employees are the weakest link in your network security, using weak passwords and falling for phishing and social engineering attacks.
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