#CyberFLASH: Detection of information security breaches drops in Canada

images-126The detection rate for information security breaches among Canadian businesses has dropped 15% since last year, according to a new report from PwC.

Globally, the number of reported information security incidents around the world rose 48% to 42.8 million, the equivalent of 117,339 attacks per day in 2014, according to The Global State of Information Security Survey 2015, a worldwide survey by PwC, completed in conjunction with CIO and CSO magazines.

As many as 71% of security compromises go undetected, PwC noted, based on an estimate from the 2014 Trustwave Global Security Report, released in May.

“The rate of growth isn’t surprising,” Salim Hasham, partner and national cyber security leader at PwC noted in a statement on its survey report, which was based on responses from 9,700 C-suite executives and IT security heads from more than 154 countries.

“This is only the tip of the iceberg when it comes to an organization’s ability to detect cyber incidents or even quantifying true losses,” Hasham noted.

“The underlying issue lies with the under investment in the capability to go beyond trying to just protect critical digital assets towards a need to establish the ability to identify incidents as a better indicator.”

The detection rates in small Canadian organizations have increased by 311% over 2013, the report suggests. Small organizations also increased their IT security spending by 21% this year over last, PwC said.

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