Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Risk //

Compliance

Study: Many UK Retail, Financial Firms Still Don't Understand Security Risks

Despite recent breaches, many UK retailers and financial firms haven't upgraded their online security strategies.

Despite a recent spate of breaches affecting their industries, many UK retailers and financial firms still aren't taking the steps they need to protect their data online, according to a study published Wednesday.

The survey of UK retail and financial firms, conducted by Atomic Research and sponsored by security vendor Tripwire, indicates that many companies in both industries still are not sure if their defenses are adequate to protect customer data. Nearly a quarter of respondents (24 percent) have already suffered a data breach involving personally identifiable information.

Thirty-six percent of respondents do not have confidence in their cyber incident response plans, the study says. Fifty-one percent of respondents are only somewhat confident that their security controls can detect malicious applications. Just 60 percent of UK retailers and financial firms feel that their systems have been hardened enough to prevent a breach similar to those seen recently in the news.

Sixty percent of respondents said they remain confident that their security controls will be able to prevent the loss of data files. Forty percent said they do not believe that recent high-profile breaches have changed the level of attention executives give to security.

While most security professionals regard the Payment Card Industry's Data Security Standard as a bare minimum, 43 percent of survey respondents said PCI is the "backbone" of their security programs. Thirty-six percent said PCI is half of their security programs.

"It is great that recent breaches have increased cybersecurity awareness and internal dialogue," says Dwayne Melancon, CTO at Tripwire. "However, the improved internal communication may be biased by a false sense of security. For example, 95 percent of respondents said they would be able to detect a breach on critical systems within a week. In reality, nearly all of the recent publicly disclosed breaches have gone on for months without detection." 

Tim Wilson is Editor in Chief and co-founder of Dark Reading.com, UBM Tech's online community for information security professionals. He is responsible for managing the site, assigning and editing content, and writing breaking news stories. Wilson has been recognized as one ... View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Threaded  |  Newest First  |  Oldest First
News
Inside the Ransomware Campaigns Targeting Exchange Servers
Kelly Sheridan, Staff Editor, Dark Reading,  4/2/2021
Commentary
Beyond MITRE ATT&CK: The Case for a New Cyber Kill Chain
Rik Turner, Principal Analyst, Infrastructure Solutions, Omdia,  3/30/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
2021 Top Enterprise IT Trends
We've identified the key trends that are poised to impact the IT landscape in 2021. Find out why they're important and how they will affect you today!
Flash Poll
New Best Practices for Secure App Development
New Best Practices for Secure App Development
The transition from DevOps to SecDevOps is combining with the move toward cloud computing to create new challenges - and new opportunities - for the information security team. Download this report, to learn about the new best practices for secure application development.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2021-28973
PUBLISHED: 2021-04-13
The XML Import functionality of the Administration console in Perforce Helix ALM 2020.3.1 Build 22 accepts XML input data that is parsed by insecurely configured software components, leading to XXE attacks.
CVE-2021-29997
PUBLISHED: 2021-04-13
XML External Entity Resolution (XXE) in Helix ALM. The XML Import functionality of the Administration console in Perforce Helix ALM 2020.3.1 Build 22 accepts XML input data that is parsed by insecurely configured software components, leading to XXE attacks.
CVE-2021-29998
PUBLISHED: 2021-04-13
An issue was discovered in Wind River VxWorks before 6.5. There is a possible heap overflow in dhcp client.
CVE-2021-29999
PUBLISHED: 2021-04-13
An issue was discovered in Wind River VxWorks through 6.8. There is a possible stack overflow in dhcp server.
CVE-2021-21729
PUBLISHED: 2021-04-13
Some ZTE products have CSRF vulnerability. Because some pages lack CSRF random value verification, attackers could perform illegal authorization operations by constructing messages.This affects: ZXHN H168N V3.5.0_EG1T5_TE, V2.5.5, ZXHN H108N V2.5.5_BTMT1