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Majority of technology companies view cyber security as a serious threat to business continuity

A Silicon Valley Bank survey has found that the majority of technology companies view cyber security as a serious threat to both their data and their business continuity; and only one-third are completely confident in the security of their information. The survey polled the views of 216 technology company executives.

The full report, ‘Cyber Security Impact on Innovation,’ also found that nearly all (98 percent) of companies are maintaining or increasing their cyber security resources and of those, half are increasing resources devoted to online attacks this year. Resources are most likely to be invested in monitoring, preventative policies, training and staffing rather than in preventative infrastructure, indicating they are planning for when, not if, they are attacked.

While most respondents were moderately confident in the security of their information, they were less confident in their partners’, vendors’ and clients’ security measures.

Most respondents are storing their data privately, showing a lower appetite for storing their information in the public cloud. Software companies were the exception with 59 percent using the public cloud, versus more private behavior by hardware, healthcare and cleantech companies.

Forty-six percent of companies, whose main offering is not security, include cyber security functionality in their product and 8 percent more plan to add a cyber security component to their core offering.

http://www.svb.com

•Date: 1st October 2013 • US/World •Type: Article • Topic: ISM

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