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Wed 2 Oct 2019 03:03 PM

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Half of CEOs in the UAE are not prepared for a cyber attack

Latest KPMG report says 70% believe it's only a matter of time before they are hit

Half of CEOs in the UAE are not prepared for a cyber attack
The survey revealed that nearly 90 percent of CEOs in the country believe that their staff are either highly or very effective when it comes to cyber security.

Just under half of CEOs in the UAE are prepared for a future cyber attack.

That is despite most being more aware than ever of the threats posed by an attack. And according to the 2019 CEO Outlook – UAE by KPMG, bosses believe a cyber attack on their organisation at some point is inevitable.

Tim Wood, head of cyber security, KPMG, said: “CEOs suggest over 70 percent of them believe that it’s not just a matter of if they get attacked, but when, because they know this is happening. So there’s a real understanding in the CEO community of the threat of cyber attacks.”

The Global CEO Outlook report is based on a survey of 1,300 CEOs in 11 of the world’s largest economies. The UAE findings of the report saw 35 CEOs surveyed, 54 percent of whom came from privately held companies and 46 percent from publicly traded firms.

The survey revealed that nearly 90 percent of CEOs in the country believe that their staff are either highly or very effective when it comes to cyber security, while 89 percent feel personally responsible for protecting customer data – up nearly 40 percent from last year.

Wood said: “That 89 percent number is more akin to the US where there is very much a feeling of personal responsibility around customer data with CEOs, simply because so many CEOs have lost their jobs after a data breach in their organisation.”

According to the report, global CEOs who have made their organisation more cyber resilient are also more focused on disrupting their industry, tend to make bolder use of AI, and are projecting stronger revenue growth (over two percent revenue growth or more) over the next three years.

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