• Businesses are not doing enough to stop cyber attacks, despite greater awareness

Despite there being a growing focus on cybersecurity in the media and in boardrooms, businesses are failing to do enough to keep themselves safe, according to research from security company CyberArk.  

The company’s Global Advanced Threat Landscape survey showed that although 82% of respondents thought that progress was being made in cybersecurity, 40% of businesses still store important passwords in word documents or spreadsheets, which present an attractive target to hackers.

The report claimed that firms are failing to protect themselves properly, adding that almost half (49%) give third-party vendors access to their internal network.

However, many companies claim they are now using attacks as an opportunity to learn so they are better prepared for future attacks. Almost all (95%) of those surveyed said that their business now has a cyber security emergency response plan, and three quarters believe they can prevent hackers from accessing their internal network.

John Worrall, CMO at CyberArk, said: “The findings of this year’s Global Advanced Threat Landscape survey demonstrate that cyber security awareness doesn’t always equate to being secure.

“Organisations undermine their own efforts by failing to enforce well-known security best practices around potential vulnerabilities associated with privileged accounts, third-party vendor access and data stored in the cloud.”

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