Only 5% of Business Leaders Rethought Security After Equifax

One-third of business leaders have heard about the WannaCry ransomware attack. Less than 5% say the Equifax breach prompted them to rethink their business' approach to cybersecurity. Both findings, released by Veracode today, indicate a troubling lack of awareness and understanding around major breaches and common security problems.

Researchers polled corporate leaders to gauge their understanding of secure software. One in five said their software budget increased 50% or more over the past three years, but only 50% surveyed understand the risk vulnerable software poses for their business. One-quarter do not understand threats like ransomware, phishing attacks, DDoS attacks, and malicious insiders.

There is a slight shift in awareness, however. Of the 33% who said a cyberattack on another company prompted them to rethink their security strategy, many have taken steps to improve their security posture or plan to do so over the next year. More than one-third have started regularly scanning for vulnerabilities or plan to start in the next twelve months.

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