DOHA: In a study released by KPMG International, which tracks insights on the coming three years, chief executives of global businesses said that despite the risks associated with cyber breaches, only half (49 percent) are fully prepared for a future cyber event.
According to the 2015 KPMG CEO Outlook Study of more than 1,200 CEOs, one out of five indicated that information security is the risk they are most concerned about.
Rajesh Menon, Partner and Head of Management Consulting at KPMG in Qatar, said: “Cyber security is an important priority for all sectors and increasingly, we are seeing businesses and organisations in Qatar take steps to prepare for potential threats. The financial services and oil and gas sectors are particularly taking the lead, however cyber security is an issue which all organisations should be proactive in tackling.” Menon added: “The most innovative companies have recognised that cyber security is a customer experience, not just a risk that needs to be managed or a line item in the budget.
In Qatar, some firms are finding ways to turn cyber preparedness into a competitive advantage, with customers using this as a differentiator.”
Cyber security was seen as being the issue having the biggest impact on their company for nearly a third of the CEOs (29 percent). Yet only half of the respondents had appointed a cyber security executive or team and two in ten (21 percent) had no plans to do so. Similarly, only 37 percent have upgraded current technologies. “Many companies that suffer serious breaches think they were adequately prepared. A failure to imagine the sophistication and persistence of their attackers can lead to serious consequences,” he said.
THE PENINSULA
DOHA: In a study released by KPMG International, which tracks insights on the coming three years, chief executives of global businesses said that despite the risks associated with cyber breaches, only half (49 percent) are fully prepared for a future cyber event.
According to the 2015 KPMG CEO Outlook Study of more than 1,200 CEOs, one out of five indicated that information security is the risk they are most concerned about.
Rajesh Menon, Partner and Head of Management Consulting at KPMG in Qatar, said: “Cyber security is an important priority for all sectors and increasingly, we are seeing businesses and organisations in Qatar take steps to prepare for potential threats. The financial services and oil and gas sectors are particularly taking the lead, however cyber security is an issue which all organisations should be proactive in tackling.” Menon added: “The most innovative companies have recognised that cyber security is a customer experience, not just a risk that needs to be managed or a line item in the budget.
In Qatar, some firms are finding ways to turn cyber preparedness into a competitive advantage, with customers using this as a differentiator.”
Cyber security was seen as being the issue having the biggest impact on their company for nearly a third of the CEOs (29 percent). Yet only half of the respondents had appointed a cyber security executive or team and two in ten (21 percent) had no plans to do so. Similarly, only 37 percent have upgraded current technologies. “Many companies that suffer serious breaches think they were adequately prepared. A failure to imagine the sophistication and persistence of their attackers can lead to serious consequences,” he said.
THE PENINSULA
