The World Economic Forum has warned that the theft of information and the intentional disruption of online or digital processes are among the very top business risks that major institutions face. It also suggests, however, that improved cyber security could save the world economy trillions of dollars.
Recent high profile attacks have highlighted just how much cyber crime can cost vulnerable business; risks are growing as digital criminals become more adept, now employing a portfolio of attacks with the potential to damage national economies and radically undermine an organisation’s ability to grow and innovate. Digital crime threatens to undermine not only an institution’s reputation but also its core competitive advantage.
Against this backdrop, we set out to explore how organisations are reacting to a new era of digital criminality. We therefore commissioned Ipsos MORI to survey strategic and IT decision makers in the UK, US, Australia and Canada to provide a global measure of the changing perceptions of, and response to, cyber threats.
The 2014 Cyber Security Monitor report, Business and the Cyber Threat: The Rise of Digital Criminality, is the result of this research. This report builds on a UK survey commissioned by BAE Systems in 2012, but also offers a more international perspective, comparing how different geographical markets have responded to the growing threat presented by the rise of digital criminality.