PwC report: 34% of firms expect to experience cyber crime by 2018

Some 34% of people believe that it is likely that their organisation will experience a cyber crime incident in the next 24 months, according to a recent PwC survey.

The Global Economic Crime Survey, which interviewed over 6000 people across 115 countries, also found that cyber crime incidents were up 8% to 32% and that over half of respondents (53%) perceived an increased risk of cyber threats over the last two years.

Andrew Gordon, global leader of Forensic Services at PwC, commented on the survey findings.

He said: “Overall, the report finds that business detection and response plans are not keeping pace with the level and range of threats now facing organisations, with a potential trend in fraud detection of too much being left to chance. It warns that a ‘passive approach to detecting and preventing economic crime is a recipe for disaster’.”

Additionally, the survey found that 45% of participants did not believe their local law enforcement agencies had the required skills and resources to combat cyber crime.

Some 37% of people surveyed said that they had a fully operational cybersecurity incident response plan in place, while 14% said they had no intention of implementing one.

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