Many businesses throughout the world claim to have a strong commitment to risk-based security management, but recent research from IT security solutions provider Tripwire and the Ponemon Institute found holes in the deployment of RBSM for many companies.
According to the survey, 30 percent of respondents have no RBSM strategy, while 23 percent only have an informal or ad hoc strategy.
“Savvy security executives will leverage risk as a means to drive business-relevant discussions, and use objective measures to show security effectiveness. It is imperative to break the cycle of ‘habitual security spending’ to better align security resource allocations within their businesses,” said Dwayne Melancon, chief technical officer for Tripwire.
Other findings from the survey show many organizations across the world say they are committed to RBSM strategies, but fewer than half of respondents have a formalized approach to the security solution.
These survey results are startling, especially due to the increased number of cyberattacks in recent years. Because of the rising incidence of cybercrime, businesses should both implement RBSM and invest in cyber liability insurance, which can provide financial protection in the event of a security breach.
