Cybersecurity: Going Back To Basics Is Key To Success

HLB has released its fifth annual Cybersecurity Report, providing crucial insights from over 600 senior IT professionals. This year's theme, "Cybersecurity Fundamentals," explores the pressing need for organisations to focus on essential security practices amidst a landscape of increasing vulnerabilities and evolving technological challenges.

HLB undertook this research to empower organisations with the knowledge and strategies necessary to safeguard their digital assets. This annual report aims to provide valuable guidance and build a proactive approach to cybersecurity. By understanding the key challenges and trends identified in the report, HLB helps businesses enhance their resilience against cyber threats, ultimately contributing to a more secure and stable digital environment globally.

Report Highlights Include:

• Resilience & basic practices: A staggering 92% of participants noted ongoing cyberattacks, indicating the need for robust resilience strategies and fundamental cybersecurity measures like misconfiguration management and cyber hygiene practices.

• Third-party risk & regulatory compliance: With over a third of organisations experiencing vendor-related breaches, the report emphasises the importance of managing third-party risks and adhering to regulations such as NIS2 and DORA.
  

• AI & data protection: While AI offers revolutionary capabilities, it also poses significant security challenges. Only 30% of respondents have implemented additional security controls for AI, highlighting a critical gap in AI governance and data protection strategies.

Amy Spillard, Head of Technology Partnerships said: "Cybersecurity is more than just an IT issue; it's a business imperative. This report illustrates the urgent need for organisations to adopt proactive security measures and ensure all employees are well-trained."

"Despite heightened concerns, the report shows promising trends, with over 90% of businesses considering cybersecurity a strategic priority and more than 80% having comprehensive incident response plans in place.”

Gareth Rees, The Missing Link added, "While 45% of organisations now have dedicated teams focusing on cyber compliance, the findings of HLB's report demonstrate the true measure of success lies not just in resources but in the effectiveness and real-world application of security protocols."

"Effective security awareness training, regular security reviews and improved third-party vendor security measures, offers a high return on investment in mitigating these risks."

Download and read the full report here:

HLB-Cybersecurity-Report-2024.pdf

Download PDF • 4.80MB