New York -- While retail and consumer organizations have made significant security improvements, they have not kept pace in today’s business environment and are relying on yesterday’s security practices to combat current business threats and risks, according to PwC US’s recently released 2014 Global State of Information Security Survey.
Survey respondents reported a 30% jump in detected security incidents over the last year. Another key concern among R&C companies — particularly online retailers that rely on credit card payments — is fraud. This year, 16% of respondents report incidents of fraud, a 25% increase over last year.
Additionally, with a concurrent rise in the volume of data being shared digitally, it has resulted in a proliferation of data loss, particularly significant for retailers as the on-going adoption of an omnichannel shopping model requires that more data is collected, stored, and shared.
Among external risk factors, hackers represent a serious and growing risk. Thirty percent of survey respondents attribute security incidents to hackers, up 45% over last year. Another top source of incidents attributed to outsiders is competitors, cited by 16% of respondents.
Other key findings include:
- 30% of survey respondents attribute security incidents to hackers, up 45% over last year;
- Only 19% of R&C respondents say they have procedures in place to help protect intellectual property;
- 65% of respondents say their security strategy is aligned with business needs.