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Digital Identity, Security & Online Fraud

PwC: companies unprepared for hacking threat

Monday 20 March 2017 | 11:22 AM CET

Global private companies could be ill-prepared for cyber attacks, according to a report by PwC UK.

However, chief executives of some of the worlds' leading private companies are confident about their companies' prospects and plan to recruit more staff. The “Undaunted, but underprepared?” report found 86% of CEOs were confident about their companies revenue prospects in 2017, an increase of 5% from 2016.

As a result, that made it the first time in five years that private company bosses were more confident than public company CEOs, according to Reuters. PwC UK representatives said it was worrying that private company CEOs were less concerned about technology and cyber compared to their public counterparts, as they had less resources available to invest in addressing these issues.

Furthermore, figures showed that 41% of private company CEOs were not concerned about cyber threats and only 68% were concerned about the speed of technological change.

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