CEOs Prioritize Cybersecurity Over Economy

More and more CEOs believe that cyberattacks are a bigger problem than economic uncertainty, says Palo Alto Networks.

Palo Alto did a survey of 2,500 CEOs from different countries. They found out that CEOs are afraid of things they don't know. Many of them don't think it's their job to take care of their organization's cybersecurity.

But confidence remains high despite this, as most people feel ready for a cyberattack.

CEOs are worried about keeping their company's endpoints safe. A report found that 51% of CEOs are concerned about cybersecurity risks. These risks are increasing quickly. It's causing them to lose sleep.

Most people don't know the risks their companies are facing. Only 16% think they understand it all. 21% feel fully responsible for cybersecurity. 24% believe it's the CIO's job, but they still take some responsibility.

Most people believe they're ready for cyber threats. 78% of them have tested and complete plans and feel secure. 74% are sure that their company can deal with changing threats. However, only 36% would enlist the help of an incident response team in case of an attack. Additionally, 34% would pay the ransom for ransomware attacks.

Experts warn against paying ransom and suggest using backup solutions. Paying ransom won't guarantee safe data and could fund future ransomware operations. However, some companies pay the ransom to resume operations quickly.

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Sead is a freelance journalist from Sarajevo, Bosnia and Herzegovina. He writes about IT and cybersecurity. He's been writing for over 10 years and has worked for places like Al Jazeera Balkans. He's even taught content writing for Represent Communications.