Study: Damage to reputation key cybersecurity fears

Loss of revenue is the biggest risk that many consumers apply to a cybersecurity breach, but according to new data, it isn't what businesses fear most. Instead, researchers with TrustWave found that nearly half (42%) fear damaging their reputation.

by Kristina Knight

Damage to the reputation - either to the business as a whole or to the individual - led both financial damage and job termination in Trustwave's 2017 Security Pressures Report. Just over one-third (38%) said they feared financial losses the most, and 11% said their greatest fear was the loss of a job.

"Findings show that the pressures cybersecurity professionals face have become much more personal than in previous years, as executives recognize that pressure does not translate into better performance - instead it may lead to stress and burnout. In an era where security talent is at a premium, organizations cannot afford to lose these skilled individuals," said Chris Schueler, Senior Vice President of Managed Security Services at Trustwave. "My advice to those facing these pressures head on is to no longer think of security as a siloed discipline. In order to build a successful security program, you must establish both internal and external allies.Partnering with a managed security service provider can help compensate for and amplify areas of your security program that you find too complex or lack the internal resources to address."

Other interesting findings from the report include:

• 29% cite advanced security threats as their biggest pressure, 15% cited security expertise
• 30% say customer data theft is the outcome they most fear from a cyber attack
• 51% say they are most pressured to defend against external threats, 49% say internal

Nearly have of those surveyed (43%) note that they partner with a security provider to help protect their business/brand from cyber attacks.

Tags: cyber attack, cyber threat trends, cybersecurity, ecommerce, SMB trends, Trustwave