Multinationals warned over risk of cyber attacks

Billy Bambrough
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Companies are beginning to appoint chief digital risk officers to handle both the technical and the management side of security (Source: Getty)

Large multinationals are being warned over their preparations against cyber attacks.

Companies have admitted to feeling constrained by regulation, resources, and dependence on third parties, with only a fifth of IT decision makers confident they are able to deal with the growing threat of cyber-criminals.

Research from KPMG and BT found that almost half (47 per cent) of company IT chiefs admit that they don’t have a strategy in place to prevent attacks that either blackmail or bribe employees to gain cyber access.

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“It’s time to think differently about cyber risk – ditching the talk of hackers – and recognising that our businesses are being targeted by ruthless criminal entrepreneurs with business plans and extensive resources,” said Paul Taylor, UK head of cyber security at KPMG.

The report shows chief digital risk officers are now being appointed to manage security, with the role already filled at 26 per cent of companies asked.

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