2024 Voice of the CISO: Navigating the Cybersecurity Maelstrom
Introduction
CISOs have faced numerous challenges in recent years, including the global pandemic, remote work, and high employee turnover. Despite the relative calm brought by the end of the pandemic, 2024 has seen a peak in cyber threats. Hybrid working and increased reliance on cloud technology have expanded the attack surface, making cyber threats more targeted, sophisticated, and frequent. Employees, often taking data with them when changing jobs, pose a persistent vulnerability. Additionally, the rise of generative AI tools has lowered the barrier for cyber criminals.
Heightened Concerns but Growing Confidence
- Risk Perception: Over 70% of CISOs feel at risk of a material cyber attack in the next 12 months, up slightly from 68% last year but significantly higher than 48% in 2022.
- Likelihood of Attack: 31% of CISOs believe a significant attack is "very likely," highlighting the collective anxiety.
- Geographical Variations:
- Most Concerned: South Korea (91%), Canada (90%), and the United States (87%)
- Most Optimistic: Brazil (45%)
Awareness vs. Preparedness
- Preparedness: Only 43% of CISOs feel their organization is unprepared to cope with a targeted cyber attack in 2024, a marked improvement from 61% in 2023 and 50% in 2022.
- Top Concerns:
- Ransomware: 41%
- Malware: 38%
- Email Fraud: 36%
- Cloud Account Compromise: 34%
- Insider Threats: 30%
- DDoS Attacks: 30%
Key Threats and Industries
- Ransomware: Top concern in Japan (64%), UK (51%), Sweden (49%), and the Netherlands (49%).
- Malware: Leading threat in Italy (53%), Brazil (46%), and Singapore (45%).
- Email Fraud: Most concerning in Saudi Arabia (50%), Australia (46%), Germany (46%), Canada (42%), The Netherlands (42%), and Japan (42%).
Human Error: The Persistent Vulnerability
- Insider Threats: CISOs consistently cite human error as the top risk factor, exacerbated by growing insider threats and data loss due to employee actions.
Board-CISO Alignment
- Board Members: Both CISOs and board members see malware, insider threats, cloud account compromise, and ransomware as major threats.
- Alignment: Boards are increasingly receptive to CISO concerns, recognizing the evolving threat landscape.
Conclusion
Despite the challenges, CISOs are adapting and improving their preparedness. The focus remains on addressing human vulnerabilities and enhancing security measures to mitigate cyber threats.