Technology: 3600 directors were asked, the answer is clear: 2022 will be a more dangerous year

According to a survey of 3,600 CEOs and CEOs worldwide, 60 percent of those surveyed have no in-depth knowledge of the risks of data loss caused by third parties, while 20 percent know little or nothing about these risks. “PwC Hungary’s cyber defense group head and regional security center for the company, said Peter Dorogayi

“The results are ominous in an environment in which 60 percent of business leaders expect an increase in cybercrime in 2022.”

More than half of respondents (56%) expect an increase in data security breaches within the software supply chain, while only a third (34%) have formally assessed their company’s exposure to such risks. Similarly, the majority of respondents (58%) expect the number of attacks on their cloud services to rise, but only 37% said they have explored the risks associated with cloud-based solutions based on official risk assessments, according to the summary.

According to PwC’s cyber defense expert, companies can be vulnerable to attack even if their cyber defense is good; To search for a sophisticated attacker looking for the weakest link in the chain, possibly through the company’s suppliers. Therefore, transparency and management of corporate relationships and their affiliation with third parties is essential. However, less than half of the respondents responded to the increasing threats posed by the complex business environment as reducing the risk of third party cyber attacks is a complex process. However, we cannot ignore these threats, as some suppliers have almost free access to our companies’ systems with little exaggeration.

On the question of how their company can reduce third-party risk, the most common responses were: audit or supplier compliance checks (46%); share information with third parties or otherwise help improve their cybersecurity (42%); and addressing cost or time challenges related to cybersecurity (40%). However, the majority did not define their expectations from third parties (58%), did not modify their contracts (60%) or tighten due diligence procedures to identify third party risks (62%).

Nearly three-quarters of respondents say that the complexity of their organizations carries worrying levels of data and Internet protection risks. The easiest process is a challenge, but it’s definitely worth it.

While three out of ten respondents said their company had modernized their operations in the past two years, the top ten percent of companies working in cybersecurity, according to the survey, are five times more likely to streamline their operations. Additionally, companies in the top ten percent are ten times more likely to have introduced formal data security practices, and eleven times more likely to have a high level of knowledge of third-party data protection and cyber risks.

Most leaders believe that the most important step in achieving a safer digital society by 2030 is preparing CEOs and board members to better integrate cybersecurity considerations into strategic decisions.

“From the responses, we see that the most advanced organizations see cybersecurity not only as a means of defense and control, but also as an opportunity to achieve sustainable business outcomes and build trust among their clients. This approach begins with business leaders, so their willingness and knowledge plays a key role in enabling the company’s goals and decisions to Focus on long-term goals related to growth rather than narrower, short-term expectations. Thus, cybersecurity creates value rather than an obligation to comply,” added Chapa Gemisi, Director of Cyber ​​Defense Group at PwC Hungary.

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