Cyber Incidents Hit 85% Of Firms Over Past 12 Months

Insider threat is a key factor in the growth of cyber, fraud, and security incidents among global companies in 2016.

Eighty-five percent of executives say they were hit with a cyber incident in the past year, according to the 2016/2017 Kroll Annual Global Fraud and Risk Report. Malicious insiders prove the greatest threat.
One-third (33%) of respondents suffered virus attacks and 26% experienced email-based phishing attacks. Intellectual property theft/loss was the most common type of security incident, as reported by 38% of execs who experienced security problems. An increase in corporate fraud was driven by incidents of market collusion (15%) and misappropriation of company funds (11%).
Current and past employees are primarily responsible for fraud, cyber, and security issues. Nearly half (44%) of respondents hold insiders responsible for cyber incidents; more than half (56%) say insiders were key perpetrators of security problems.
Three-quarters (76%) of companies have begun to mitigate risk by implementing in-house security assessments of their IT and data infrastructure, execs report.
Krolls Tommy Helsby says: The impact of such incidents is significant, with punitive effects on company revenues, business continuity, corporate reputation, customer satisfaction, and employee morale.
Read full survey
here
.

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Cyber Incidents Hit 85% Of Firms Over Past 12 Months