9 in 10 businesses in UK also recognise Government and Industry may need to step in with education campaign and support with better training and guidelines so that businesses can stay on all cyber threats
The majority of cyber, risk and IT audit/audit professionals in the UK (53%) believe the Dark Web now poses a threat to business, according to the latest research published by leading cyber security job board CareersinCyber.com.
Respondents from the research, who recognise there is a threat, believe that their/a business’s survival, customer base and reputation could be put at risk because highly confidential client information could easily be leaked into the Dark Web as well as malicious viruses which cause data breaches.
Those who are keen to mitigate against the risks of the Dark Web state that their organisation will need to invest in technology (27%), a further quarter believe dedicated risk management and/or technology professionals will need to be hired and just over a fifth (22%) believe that current employees need to go on more training so they are equipped with the right skills.
Nearly nine in ten cyber, risk and audit professionals in the UK (87%) believe in-house cyber and data privacy teams could require the external support of industry and Government so they can keep on top of some of the biggest threats such as data breaches, phishing and the Dark Web and nearly seven in ten respondents (68%) would like industry to educate and support businesses with better training and guidelines. Whilst a further 21% would like the Government to up their game and introduce more stringent fines, legislation and or regulation.
Simon Wright, Director of the CareersinAudit Group, which includes global job boards, CareersinCyber.com, CareersinAudit.com, CareersinRisk.com and CareersinCompliance, comments:
“Business sentiment is definitely changing and more are catching up with the cyber realities of 2019 and potential dangers to businesses as a result of activity on the Dark Web. If you speak to technology experts and specialist software providers who are monitoring the Dark Web daily they impress that stolen business data is now regarded as huge collateral in the Dark Web marketplace.
“The stereotypical perception of Dark Web being a trading place primarily for firearms and drugs is outdated. With the increasing value of data, which we often hear termed the ‘new money or new currency’, it is not surprising that the leaking of highly sought after and sensitive information about a business is the ultimate collateral for cyber criminals.
“There is a stark call to action for business owners and the Board Directors to train up existing staff to ensure they are equipped with the right skill-base as well as hire highly skilled risk management and IT professionals who can advise and manage on threat management, in light of the ever-growing cyber threats. At the same time, it is clear many businesses will need better guidance from industry and even punitive measures from Government such as fines or possible a change in criminal law to ensure more is being done to deter perpetrators in the cybersphere.”
Insights from respondents working in the cyber security, risk and audit sectors who believe there is a threat include
“Highly confidential client information leaked into the Dark Web will surely bring our business to bankruptcy. We will lose our clients, get sued and be fined for being too reckless by letting our guard down”
“Leak of critical information about business deals and distributor agreed deals could lead to loss of information if a competitor has access to information.”
“The Dark Web pages contain malicious viruses which could infect the system and causes data breaches or operational halts, and even frauds”
“They (cyber criminals) may be selling our database to competitors.”
“Impact will be on the company’s reputation when clients or customers get affected”