Almost all C-suite and other executives (87 percent) expect the number of cyberattacks targeting their organizations to increase over the next 12 months, according to a recent Deloitte survey. But while 65 percent say that ransomware is their primary cyber threat concerns, only one-third say their organizations have simulated ransomware attacks to prepare for such an incident.
Only a small percentage of executives (about six percent) said their organizations are entirely unprepared for a ransomware attack, 54 percent said they have a response plan for cyber attacks, but it’s not specific to ransomware. This attack vector is a growing concern for organizations in the wake of several high-profile ransomware attacks in 2021, including against the Colonial Pipeline and meat-packing company JBS.
“Over the past 12 to 18 months, executives across industries and sectors have witnessed — and increasingly experienced first-hand — the jaw-dropping frequency, sophistication, cost, and both economic and operational impacts of ransomware attacks,” said Curt Aubley, managing director of Deloitte & Touche.
Ransomware outpaced other threats like software supply chain attacks (24 percent) and hacktivism (two percent) as executives’ biggest concern when it comes to cyber threats against their organizations.
About the survey
More than 50 C-suite and other executives were polled online during a Deloitte webcast held June 24, 2021 about cyber threat detection and response. Participating executives held leadership roles in areas including corporate boards (37 percent), IT (34 percent), risk management (12 percent) and security and privacy (6.7 percent). Answer rates differed by question.
Deloitte provides audit, consulting, tax and advisory services to hundreds of companies, including nearly 90 percent of the Fortune 500 and more than 7,000 private companies. Learn more at www.deloitte.com.