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UK CEOs fear cyber attacks

Mar 19, 2020
More than two thirds of UK CEOs fear a cyber attack as just under half delete social media or virtual assistant apps, according to PwC.

Cyber attacksThe findings, from PwC’s survey of almost 1,600 CEOs from 83 countries across the world, shows that the issues shaping UK CEOs’ cyber security strategies include, growing public concern over data privacy (57%), data privacy regulations (57%), vulnerabilities in supply chains (41%) and the shortage of cybersecurity talent (27%).

The results form part of PwC's 23rd annual CEO Survey, which was launched recently at the Annual Meeting of the World Economic Forum in Davos, Switzerland. 

Richard Horne, Cyber Security Chair, PwC UK, said: “It's clear that cybercrime continues to grow as an issue for CEOs around the world, meaning that for many, the threat to their margins, their brands and even their continued existence from cyber-attacks is no longer an abstract risk that can be ignored.  Criminals are becoming more adept at monetising their breaches, with a sharp rise in ransomware attacks this last year.  They can have a devastating impact on the organisations they hit, as seen in many high-profile cases.

To counterbalance this, CEOs need to focus on how their business is configured - with the ability to be resilient to cyber-attacks becoming a core requirement.  Cyber security can no longer be seen as a 'bolt on', but rather something to be designed into the business and IT architecture.”

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