The Business Continuity Institute (BCI) in association with British Standards Institution (BSI) has published its research work in which it concluded that cyber attacks are having the potential to cause political instability.
The cited evidence in the report points out at the US Media which is accusing the newly elected US President Donald Trump influencing the results of US Polls 2016 with the help of Russia.
The report also confirms that 88% of businesses are either awfully concerned or concerned about the possibility of cyber attack. As cyber attacks and data breaches continue to cost firms billions of dollars, they are proving as worst nightmares to businesses.
The study which was made in 726 companies located in 79 countries proved that companies are now more concerned about cyber attacks, then the regular IT outages. For this reason, they are willing to shell out more on insurance companies which offer them a kind of financial security when cyber attacks are launched on them.
BCI survey also listed out the top ten threats to business continuity and listed Cyber attack as the top threat feared by all businesses. Data Breach stands second in the list followed by unplanned IT and telecom outages.
David Thorp, the Executive Director of Business Continuity Institute says that businesses must adopt agile and dynamic responses against cyber attacks in order to maintain business continuity. Going for proactive measures which can help in sustaining themselves from malicious internet actors, political shake-ups, and climate change can help the businesses further.
Note- Business Continuity is nothing but the ability of an organization/firm to continue delivery of products and services even in the event of disaster. Recognition of threats and risks on an advanced note which the company is facing can help in strategizing a business continuity planning.
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