Establishing Digital Trust: Don't Sacrifice Security for Convenience
A recent Silicon Valley Bank survey of 216 C-level tech and healthcare executives found that only 35 percent are completely confident or very confident in the security of their information, while 57 percent are moderately confident (h/t Help Net Security).
The survey also found that respondents are far less confident about the security of their critical business partners, including vendors, distributors and customers -- only 16 percent of respondents say they're completely or very confident.
Fifty-one percent of respondents rate see cyber attacks as presenting a serious or very serious threat to their business continuity, and 60 percent said such attacks present a serious or very serious threat to their data or intellectual property.
Fully 98 percent of respondents are maintaining or increasing their security resources.
"The survey shows us the threat of a cyber attack is not just hype," Bob Curley, managing director of corporate finance for Silicon Valley Bank, said in a statement. "A surprising number of technology companies we heard from say the threat to their IP and their business is very serious."
"Companies in the tech sector, particularly software companies, are feeling exposed, and increasingly having to expend resources to manage cyber attacks, rather than investing in the growth of their business," Curley added. "That's a huge impact on a growing company, and eventually the economy overall."