Today, most organisations realise that cybersecurity has become a persistent, all-encompassing business risk. In some cases, it appears that information security programmes have weakened due to inadequate investments in information security. At the same time, the financial costs of investigating and mitigating incidents grow year over year.
The total number of security incidents detected by respondents climbed to 42.8 million this year, an increase of 48% from 2013. Taking a longer view, our survey data shows the compound annual growth rate (CAGR) of detected security incidents has increased 66% year over year since 2009.
Through the report, we found in China / Hong Kong:
The average financial cost from detected cybercrime in China and Hong Kong rose to US$2.4 million. This was higher than the Asia Pacific average of US$1.9 million, but was lower than the global average loss of US$2.7 million.
Average financial losses resulting from detected security incidents in China and Hong Kong increased sharply by 33% in 2014, keeping pace with a global increase of 34%.
Specifically, two out of every five China and Hong Kong respondents point to disgruntled former employees familiar with corporate security protocols and systems as one of the major threats to corporate information security.
More positively, 84% of China and Hong Kong respondents said that their organisations were increasing their information security budgets.
Cyber risks will never be completely eliminated. Today, organisations must remain vigilant and agile in the face of a continually evolving threat landscape. Find out more from the report why your organisation should consider implementing a risk-based approach.