More than half of firms not prepared for event like COVID-19
More than one-third (36 per cent) of business executives believe that cybersecurity threats have increased now that the majority of their employees work from home, according to a quick survey by CNBC.
“We are hearing from many clients and law enforcement that the level of cyberattacks, phishing attempts and scams occurring in light of COVID-19 has grown dramatically,” says Miriam Wugmeister, partner and co-chair of law firm Morrison & Foerster’s global privacy and data security group. “The bad guys know that every IT department and every cybersecurity group is currently overwhelmed and stretched.”
The survey included 33 responses from 157 members who serve in senior technology positions at large companies, as well as at government and nonprofit organizations.
One respondent says their organization saw phishing and other cyber scams rise 40 per cent, and some experts say the level of cyber risks is likely even higher than the survey indicates.
Nearly 85 per cent say at least half of their workforces are working from home while 25 per of organizations are now entirely remote, according to CNBC. More than half of the respondents said their firms never stress-tested their systems for an event like the COVID-19 coronavirus pandemic.
“Most companies prepare for peak traffic, security breaches and business continuity for natural disasters,” says Tom Hale, president of SurveyMonkey. “All of those have a degree of certainty that allows for preparation, but this crisis is more of a shift in behaviours with a tremendous amount of uncertainty.”
Only 15 per cent of business executives worldwide have confidence in their company’s top leadership to successfully manage disruption, including unexpected events such as pandemics.
While some employers have asked employees to work from home amid the COVID-19 pandemic, some have been forced to close shop.