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Cybercrime rises up the boardroom agenda

High profile corporate cybercrime is putting information security on boardroom agendas around the world, a global survey has revealed.

The need for increased measures to protect against corporate espionage and network hacking, the accidental or deliberate leaking of corporate data, and the loss or theft of company laptops, has never been so high, company bosses told a survey conducted by Erasmus University on behalf of the British Standards Institution (BSI).

According to the research, which analysed responses from 645 businesses in Asia, America, Europe and Australia, the risk of corporate data leaks is a key concern. Two thirds (64 percent) of the surveyed businesses that have implemented ISO 27001 cited this as the most important driving force behind adopting the information security standard.

In addition to risk, the BSI research also shows that 72 percent of businesses are worried about the financial damage of cybercrime.

Notably, 78 percent of organizations surveyed that have achieved ISO 27001 certification have implemented the standard from the senior management team down, with the board fully endorsing its adoption and adhering to its requirements.

This suggests that fears around data security breaches are now a real boardroom concern; a well overdue development since almost all the businesses surveyed (92 percent) said that the endorsement of senior management is crucial in the fight against information security breaches.

The Erasmus research also demonstrates that ISO 27001 tackles both the cost and risk surrounding information security directly, reducing the number of security incidents within certified organizations by 39 percent. Meanwhile, the research shows that almost one third (26 percent) of businesses that have achieved ISO 27001 certification have since seen a return on investment.

•Date: 19th August 2011 • Region: World •Type: Article • Topic: ISM

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