KPMG: Companies ignoring cybersecurity threats

Most companies do not invest enough in their cyber security, writes the consultancy company KPMG in their Cybersecurity Benchmark report. Only 40 percent of companies listed on the Euronext Amsterdam and its Index Midkap handle the issue on the top executive level, the company notes.

Another recent study by KPMG found that only in a third of the companies do Information Security Officers report about cybersecurity risks to the Supervisory Board.

Out of 23 Midkap companies studied by KPNG, 35 percent do not pay any attention to the issue of cybersecurity. In another 43 percent of Midkap companies, there is a reasonable of attention devoted to the issue.

In 20 of the 23 case studies, there is at least some discussion of cybersecurity risks. This is an 18 percent increase compared to a year before. However, KPMG notes that only in 40% of those firms are cybersecurity issues discussed on the Board of directors level.

KPMG published the current annual report in the context of several scandalous episodes concerning cybersecurity. An example of those is a cyberattack on Sony that took place this winter and resulted in substantial data leakage that also included personal information of the staff.