Survey Roundup: Cybersecurity Complacency Threatens M&A

[InfoSec News <alerts () infosecnews org>]

http://blogs.wsj.com/riskandcompliance/2014/07/11/survey-roundup-cybersecurity-complacency-threatens-ma-deals/

By BEN DIPIETRO
Wall Street Journal
July 11, 2014

Taking Risks for Granted: A global survey of 214 senior dealmakers by law 
firm Freshfields Bruckhaus Deringer found a worrying level of complacency 
toward the assessment of cyber risks during M&A deals. The survey found 
90% of respondents said cyber breaches would result in a reduction in deal 
value, but 78% say cybersecurity isn’t a risk that is currently analyzed 
in-depth or dealt with in deal due diligence. On the bright side, 
awareness of the threat posed by cyberattacks is growing, with 82% saying 
the risk of cyberattacks will change deal processes over the next 18 
months.

“It’s surprising that dealmakers recognize the growing threat of 
cyberattacks to businesses, but generally aren’t addressing that risk 
during deals,” said Chris Forsyth, co-head of the firm’s international 
cybersecurity team. “You wouldn’t dream of buying a chemicals plant 
without assessing environmental risk, so why would you buy a data-driven 
business without assessing the risks it faces around data management and 
cybersecurity?”

No Policy Required: Seven in 10 small-business owners and 30% of C-suite 
executives say their companies don’t have a cybersecurity policy, 
according to the Security Tracker survey from information security firm 
Shred-it. The survey found 38% of C-suite execs say they have an employee 
directly responsible for managing data security issues at the management 
level.

Sharing is Not Caring: A survey from software security company IS 
Decisions of 1,000 U.S. and 1,000 U.K. desk-based workers found 23% of 
respondents said they have shared their password with one or more of their 
colleagues, and 22% saying they share their work logins more frequently 
now than they did two years ago.

[...]

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