Cyber security fears move to the fore

by

12 October 2014
Fortinet

Security is starting to take precedence over other business initiatives as boardrooms exert “serious pressure” to ensure that enterprises are protected. This has made the job of securing the business all the more challenging for chief information officers (CIOs) and chief technology officers (CTOs) in the Asia Pacific

According to new research from network security company Fortinet, 91 per cent of Asia Pacific CIOs and CTOs believe that the job of keeping their enterprise protected has become increasingly demanding. The independent survey commissioned by the company polled over 1,600 IT decision makers, 504 of whom were in the Asia Pacific countries of Australia, China, India, Japan and South Korea.

The study highlighted the biggest challenges that IT decision makers faced in keeping their organisations secure. These included the rising volume and complexity of APTs (advanced persistent threats), DDoS (distributed denial of service attacks and other cyber threats, as well as emerging technology trends such as the Internet of Things (IoT) which 87 per cent of IT decision makers in Asia Pacific considered to be their biggest challenge in keeping their organisations secure.

According to the survey, cyber-security fears caused 54 per cent of Asia Pacific IT decision makers surveyed to slow down or cancel the rollout of a new application or service.

Amongst industry sectors with the highest predisposition to invest in IT security, 61 per cent were from the Fast-Moving Consumer Goods (FMCG) sector and 59 per cent were from Retail.

In terms of manpower, 77 per cent of Asia Pacific IT decision makers said that they had been provided with sufficient human and financial resources for IT security in the preceding 12 months and 80 per cent felt they would have sufficient resources in the 12 months following the survey.

John Maddison, vice president of marketing, Products, Fortinet, said while it was good news that organisations were positive and feeling well equipped with human and financial resources for the IT security challenges that lie ahead, intelligent new strategies and more investment in security technologies will be needed to counteract upcoming problems.

He urged organisations to act immediately to address the impact of the growing threat environment and increased scrutiny on IT security and to re-evaluate their goals to ensure they strike the right balance and achieve resilience in the face of cyber threats.