About 67 percent of Philippine companies recently suffered from security “incidents”—primarily network breaches and outages, cyberattacks, accidental data leakage as well as insider abuse—based on a survey made by technology giant Cisco.
In some cases, such incidents also resulted in loss of competitive advantage, regulatory penalties or action, response and recovery costs, inability to generate revenue and legal costs or penalties.“Technology is transforming businesses at a scale and speed never seen before. While this is creating new opportunities, it also brings with it challenges, especially on the security front.
Respondents also identified network or data breach , malicious insider abuse and physical destruction among the most common incidents. Businesses that reported an excellent security culture scored 46 percent higher on average than those without, while companies that maintained extra internal staffing and resources to respond to incidents resulted in a 15 percent boost in resilient outcomes.
Globally, companies that reported implementing a mature “zero trust” model saw a 30 percent increase in resilience score compared with those that had none.
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