SecurityBrief Asia logo
Asia's leading source of cybersecurity and cyber-attack news
Story image

Cybersecurity problems are business problems, report finds

By Catherine Knowles
Wed 23 Jun 2021
FYI, this story is more than a year old

The vast majority of security leaders in the Asia Pacific region do not report directly to CEOs, according to a new report by LogRhythm titled 'Security and the C-Suite: Making Security Priorities Business Priorities'.

The research, which focuses on the roles and responsibilities of cybersecurity leaders, found that more than half of organisations (55%) in Asia Pacific (APAC) have experienced a cyber attack in the last two years and spend an average of US$17 million each on security activities.

Of these organisations, 43% of respondents believe that IT security leaders should be held most accountable for preventing or mitigating the consequence of a cyber attack, compared to the CEO (18%) or both the CEO and IT security leader (22%).

Cybersecurity leaders in APAC assume greater accountability and risk for ensuring a strong security posture in the past year (61%), compared with the global average (56%).

Specifically, cybersecurity leaders in this region believe that they must contend with risks like phishing and social engineering attacks (61%), ransomware (59%) and device vulnerabilities (58%).

At the same time, while 60% of respondents believe that cybersecurity leaders should report directly to the CEO, only 6% of security leaders in APAC actually do, the report finds.

On average, they are three levels away from the CEO, which poses challenges in ensuring that the leadership have an accurate and complete understanding of security risks facing the organisation.

Without securing buy-in from their senior leadership, cybersecurity leaders struggle to establish authority and establish their desired security posture.

In fact, only 37% of respondents in the region agree that their organisation values and effectively leverages the expertise of their cybersecurity, compared to 43% globally.

This lack of understanding from senior leadership (52%) and executive support (51%) have subsequently been identified as key factors leading to concerns around job security, the researchers state.

This comes at a time when the COVID-19 pandemic has brought about novel security challenges for cybersecurity leaders.

This is especially pertinent in APAC, with 69% of respondents, the highest globally, indicating that their biggest security challenge today is securing the remote workforce.

Across the region, close to 70% of organisations have more than a quarter of their employees and contractors working remotely.

This poses new threats and increases the risk to their sensitive data, with respondents attributing this to: employees using less secure home networks (71%), family members being allowed to use the work device (65%), and security protocols not being followed closely (63%).

The research also revealed that even amid the rising threat of cyber attacks, only 29% of cybersecurity leaders in the region report to the board of directors to brief them on cybersecurity risks.

In addition, only 43% of them do so reactively after a security incident occurs. 76% of organisations also do not have a board-level committee dedicated to cybersecurity threats and issues facing the organisation.

LogRhythm vice president of international markets Joanna Wong says, “In today’s fast-evolving cyber threatscape, security leaders are assuming more responsibility and bearing more risks.

"However, without organisational visibility and a direct line of contact with their CEO and board of directors, they lack the influence to implement a holistic and mature security program.

"It is crucial that organisations recognise the need to adopt cybersecurity priorities as a central plank in their business strategy, and empower their cybersecurity leaders and team with the support and resources they need to safeguard their business effectively.”

Related stories
Top stories
Story image
DevOps
Dynatrace extends application security capabilities for runtime environments
Dynatrace has announced that it has extended its Application Security Module to detect and protect against vulnerabilities in runtime environments.
Story image
Data Protection
Zero Trust, but verify - finding the OT in ZerO Trust
The move to remote and cloud-based technologies has shifted the goalposts for cybersecurity. It now needs to cover multiple people, devices, platforms, and networks.
Story image
Cloud Security
Tenable makes additions to Cloud Security portfolio
Tenable has announced additions to Tenable Cloud Security that represent the next step in assessing threats related to cloud vulnerabilities.
Story image
Microsoft
Avast reveals zero-day exploits targeting Chrome and Microsoft
Avast, released its Q2/2022 Threat Report today, revealing a significant increase in global ransomware attacks, up 24% from Q1/2022.
Story image
scam
Classiscam threat expands to target leading platforms in Singapore
Researchers at Group-IB have uncovered that Classiscam, a sophisticated scam-as-a-service operation, has expanded to Singapore.
Story image
Government
Mandiant researchers uncover significant new disinformation campaign
Researchers from Mandiant say they have uncovered a significant disinformation campaign from the Chinese Government in the wake of U.S. Speaker Nancy Pelosi's visit to Taiwan.
Story image
Web application firewall
Radware recognised in KuppingerCole’s 2022 Leadership Compass report
Radware has been named a Product, Innovation, Market and Overall Leader in the 2022 KuppingerCole Leadership Compass report for Web Application Firewalls.
Story image
Data Protection
Video: 10 Minute IT Jams - An update from SearchInform
Alexey Pinchuk joins us today to discuss the role the company plays in helping organisations manage risk and provide better security outcomes.
Story image
Gaming
Attacks on gaming companies more than double over past year
The State of the Internet report shows gaming companies and gamer accounts are at risk, following a surge in web application attacks post pandemic.
Story image
Malware
Nozomi Networks Labs identifies impacts on 2022 threat landscape
Nozomi Networks’ latest research finds that wiper malware, IoT botnet activity, and the Russia/Ukraine war have had the biggest impact on the threat landscape in 2022 so far.
AWS Marketplace
Learn how security orchestration, automation, and response (SOAR) enhances your security strategy.
Link image
Story image
Malware
Avast One extends protection with Online Safety Score
Avast One has extended its cross-platform support by adding its Online Safety Score feature to both the Mac and iOS platforms of Avast One.
Story image
Privileged Access Management / PAM
The importance of stopping identity sprawl for cybersecurity
The 2021 Data Breach Investigations Report (DBIR) shows that 61% of all breaches involve malicious actors gaining unauthorised, privileged access to data by using a compromised credential. Unfortunately, it is often too late when the misuse of a credential is detected.
Story image
Cybersecurity
Qualys develops EASM capabilities for Cloud Platform
"Qualys unique approach to EASM is integrating the internal and external asset data from CyberSecurity Attack Management with its VMDR solution into a single view."
Story image
Gartner Magic Quadrant
Gartner positions Commvault as Leader in 2022 Magic Quadrant
Gartner has named Commvault a Leader in its 2022 Gartner Magic Quadrant for Enterprise Backup and Recovery Software Solutions report.
Story image
Healthcare
SOTI research explores professional's thoughts on digitisation in the healthcare sector
Interconnectivity, automation and data management were the three key trends highlighted in the report as integral parts of successful medical technology implementation.
Story image
SaaS
Claroty launches new cloud-based industrial cybersecurity platform
The company says Claroty xDome is the industry's first solution to deliver the ease and scalability of SaaS without compromising on visibility, protection, and monitoring controls.
Story image
Cybersecurity
More than a fifth of cybersecurity teams ban the use of public WiFi
Verizon’s fifth annual Mobile Security Index report has revealed a continued rise in significant cyberattacks in the last year involving a mobile/IoT device.
Story image
Rubrik
Gartner names Rubrik Leader in 2022 Magic Quadrant
Rubrik has been positioned by Gartner as a Leader in the 2022 Magic Quadrant for Enterprise Backup and Recovery Software Solutions.
Story image
Cybersecurity
FirstWave responds to SMB demand for better cybersecurity
FirstWave developed the CyberCision Open Security Management Platform to respond to SMBs 'urgent' need for comprehensive cyber protection.
Story image
Firewall
Fortinet unveils compact firewall for hyperscale data centres, 5G networks
"Fortinet’s dedication to pushing the boundaries of what is possible in security performance has yielded the most powerful compact firewall yet."
Story image
Ransomware
Majority of execs in SEA anticipate ransomware attacks
Kaspersky's study uncovers that more than half believe a ransomware attack against their business is too small to worry about.
Story image
Gartner
Veeam named Leader in enterprise backup and recovery
"We believe our innovation and ability to execute validates our solid standing as the #1 trusted provider of modern data protection."
Story image
Data Protection
VMware introduces advanced workload protection for AWS
VMware Carbon Black Workload for AWS delivers comprehensive visibility and security across on-premises and cloud environments for AWS customers.
Story image
ExtraHop
Organisations exposing highly sensitive protocols to public internet
More than 60% of organisations expose remote control protocol SSH to the public internet, while 36% of organisations expose the insecure FTP protocol.
Story image
API
Security gaps in APIs plague organisations - study
Together, the findings highlight that existing solutions and API security tactics focused on shift-left strategies are failing to adequately protect APIs.
Story image
VMware
Latest VMware threat report reveals truth about deepfakes
"Cyber criminals have evolved. Their new goal is to use deepfake technology to compromise organisations and gain access to their environment."
Story image
Compliance
Why security needs to shape your journey to the cloud
It's estimated that 80% of workloads could be in the cloud in the next few years. How can you make all that data secure?
Story image
Open source
Flashpoint acquires Echosec Systems, elevates OSINT capabilities
Flashpoint has acquired Echosec Systems, a provider of open-source intelligence and publicly available information.
Story image
Indusface
Why enhancing bot protection for web and API endpoints matters
The trouble with bots is that they aren’t all bad. Unfortunately, this can make it challenging to detect malicious bots that find their way into your system and threaten your business.
Story image
IDC
High level of Customer Identity & Access Management adoption
The study from Okta revealed that the pandemic has either accelerated or highlighted the need for digital-first strategies.
Story image
SAP
Microsoft unveils two new security products to help reduce attack surfaces
The products are set to give companies deeper insights into threat actor activity and help them successfully navigate the changing threat landscape.
Story image
Malware
Research shows attacks on the gaming industry are getting worse
Web application attacks in the gaming sector have grown by 167% from Q1 2021 to Q1 2022, according to new research from Akamai.
Story image
Mergers and Acquisitions
Netskope acquires Infiot, delivers integrated SASE platform
Converged SASE platform provides AI-driven zero trust security and simplified, optimised connectivity to any network location or device, including IoT.
AWS Marketplace
Watch this webinar to gain building blocks for data mesh, and how AWS customers today are successfully enabling domain driven data.
Link image
AWS Marketplace
Whitepaper: A practical guide for mitigating risk in today’s modern applications
Link image
Story image
Cybersecurity
Palo Alto Networks responds to rise in threats with MDR service
Unit 42 Managed Detection and Response is a new service that can offer continuous 24/7 threat detection, investigation and response.
Story image
Machine learning
Sysdig releases CDR offering to combat cryptojacking
Sysdig has unveiled a cloud detection and response (CDR) offering powered by machine learning to combat cryptojacking.
Story image
Data Protection
CyberRes partners with Google Cloud in lead up to BigQuery release
CyberRes, a Micro Focus line of business, has announced a partnership with Google Cloud to support the upcoming release of BigQuery remote functions.
Story image
Ransomware
Ivanti and SentinelOne partner on patch management solution
Ivanti and SentinelOne will integrate their technologies Ivanti Neurons for Patch Management and SentinelOne's Singularity XDR platform.
Story image
Dark web
Beware the darkverse and its cyber-physical threats
A darkverse of criminality hidden from law enforcement could quickly evolve to fuel a new industry of metaverse-related cybercrime.