The alarming gap between perception and reality in the corner office

C-suite overconfidence in cybersecurity poses significant risks

News By Kevin Pierce published 13 September 2024

New research reveals a staggering 81% of C-suite leaders feel confident in their cybersecurity defenses. That confidence has resulted in only 5% of leaders allocating additional budget to their cyber programs in the past 12 months.

The harsh reality paints a different picture—over 1 billion records were stolen in the first half of 2024 alone. While the C-suite feels protected, the talent on the front line is more attuned to the actual threat, with only 66% of managers saying they were confident in their organization’s cyber posture.

This alarming disconnect between perceived and actual cybersecurity readiness poses significant risks to organizations.

Kevin Pierce

Chief Product Officer of VikingCloud.

C-Suite overconfidence: A dangerous misstep

42% of C-suite executives believe their teams could recognize and respond to a cyberattack in 3 days or less. However, only 18% of frontline managers share this optimism. Similarly, 33% of C-suite said the frequency of cyberattacks against their business has increased in the past 12 months. Frontline managers’ report significantly higher figures, with 55% saying attacks against their organization have increased in frequency. This disparity highlights a critical gap in the C-suite’s understanding of the threat landscape their organizations and managers face.

This overconfidence is concerning, especially considering the growing sophistication of hackers. 55% of companies believe that modern cybercriminals are more advanced than their internal teams. This gap will continue to grow until the corner office comes to grip with their true cybersecurity posture and takes steps to mitigate their risk.

The factors contributing to C-Suite overconfidence

A significant factor contributing to this disconnect is a lack of transparency and trust within organizations. 58% of frontline managers are underreporting cyber incidents out of fear of losing their jobs. What's even more concerning is that, in contrast, only 12% of C-suite respondents claim to underreporting at their organizations—a drastic disconnect.

There are multiple levels to this problem, starting with capacity and fear. Understaffed teams and a lack of technology put a significant strain on front line managers to both establish security parameters and to sort through the potential attack vectors. With the cost of a data breach surging 10% in 2024 to $4.88M on average, the pressure is felt everywhere. Many fear they will be fired when breaches become public.

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