'Cyber-attacks top threat for businesses'by Alexander Pieri on Mar 29, 2016
Cyber-attacks have been highlighted as the top threat for businesses for a second year in a row, according to a new report.
The Business Continuity Institute (BCI) highlighted the threat in the 5th edition of its annual BCI Horizon Scan report.
Conducted in association with the British Standards Institution (BSI), the study assesses business preparedness and delves into the various continuity strategies employed by companies today.
Over 560 organisations from across the globe participated in the production of the annual report.
Theuns Kotzé, regional managing director, BSI Middle East and Africa, commented: “2015 saw a number of high profile businesses across the world hit by cyber-attacks, so it is reassuring to see that so many are aware of the threat it poses. Our research finds it to be the top concern in six out of the eight regions surveyed.”
According to the study, cyber-attacks remain a top threat, and is followed by other dangers, such as data breaches and unplanned IT and telecom outages.
Additionally, the BCI Horizon Scan report highlighted that organisations who were prepared with a comprehensive risk management systems, were able to minimise the negative impact on their respective reputation, business and brand.
Kotzé pointed out however, that many businesses across the close are not yet prepared for the dangers.
“We remain concerned to see that businesses are still not fully utilising the information available to them to identify and remedy weaknesses in their organisational resilience,” commented Kotzé.
He added: “It is difficult to conceive that either investors or employees will be reassured that the leaders of the organisations they trust are making strategic decisions without an effective evaluation of risk.”