A new study shows corporate IT security executives are now paying close attention to security breaches hitting the news.
Newton Lower Falls, Massachusetts-based information security provider CyberArk this week released a report on how Edward Snowden's revelations of the National Security Agency (NSA)'s surveillance activities and several retail security breaches have affected security strategies.
According to CyberArk's "8th Annual Global Advanced Threat Landscape" survey, the majority of respondents believe Snowden's NSA revelations (37 percent) and the number of retail or point of sale (PoS) breaches (31 percent) in the past year were the most impactful in terms of changing security strategies to protect against the latest threats hitting businesses.
"Loss of IP and competitive advantage, diminishing brand value, loss of customers and negative shareholder impact are just a few of the business impacts many organizations felt as a result of cyber-attacks this year," CyberArk Executive Vice President Adam Bosnian noted in a statement.
As far as trends go, survey respondents say the following trends were the most impactful in terms of shaping and changing security strategies: bring your own device (BYOD) (30 percent), cloud computing (26 percent), regulatory compliance (21 percent) and Internet of things (16 percent).
"This year’s survey results demonstrate that whether it’s an insider like Edward Snowden, or an outside-based attack like the retail or PoS breaches, attackers require the exploitation of insider credentials to successfully execute their attacks," Bosnian said.
CyberArk interviewed 373 C-level and IT security executives across North America, Europe and the Asia-Pacific for the report.