More than half of FTSE 100 refer to cyber security in annual report

More than half of FTSE 100 refer to cyber security in annual report

A recent study reveals that the importance of cyber security in the FTSE 100 in this country is finally being understood, with 60% of major companies featuring a cyber-risk section in their yearly reports- an increase of 49% from the same point in  2013.

SCMagazineUK.com spoke to Trustwave SpiderLabs director, John Yeo, about what he observed from his company’s ethical hacking department.

He said that the annual evaluation sees them scanning each business’ periodic/annual reports with the aim of finding out if the company is making a concerted effort to cut down on risks with cyber security.

He commented:

“What we discovered is very encouraging, as it shows that companies now understand the cyber risks they are running with their IT systems. It’s now quite difficult for most companies to underestimate the data breach risks for their organisation.”

Yeo also said that the analysis for this year revealed that 75% of consumer sale businesses now give cyber security a significant emphasis in the report, an increase of 42% from 2013.

This, he said, shows the level of importance retailers place on customer, data along with the consequences that a breach can have on their image.

An increased emphasis on cyber security will bring with it certain changes, such as a re-inspection of current cyber security personnel. Businesses will need to either train in house or post cyber security jobs in a bid to seek new talent. This can only be good for graduates and other young professionals looking for new challenges within the field.

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