Nearly a third of IT security teams never speak with their company’s executives about cybersecurity, and of those who do, 23 percent speak to them only once a year, according to a new Ponemon Institute report.
If they had the resources and opportunity, 29 percent of the respondents said they would do a complete overhaul of their current enterprise security system.
Fifty-six percent said that if their organizations had a data breach they would consider changing security vendors.
Almost half (49 percent) of the respondents said they’re planning significant investments and adjustments to their cyber security defenses during the next 12 months.
Security professionals said the top three events that would compel executive teams to allocate more money to cyber security initiates are: exfiltration of intellectual property (67 percent of respondents), data breach involving customer data (53 percent of respondents), and loss of revenues because of system downtime (49 percent of respondents).
Ponemon surveyed 4,881 IT and IT-security practitioners in 15 countries: Australia, Brazil, Canada, China, France, Germany, Hong Kong, India, Italy, Mexico, the Netherlands, Singapore, Sweden, United Kingdom and the United States.
The study also found that 47 percent of the respondents frequently felt disappointed with the level of protection their security solution offered.
The majority of those surveyed work for financial services companies.