Monday, March 4, 2013

Survey: Investors Crave More Cyber Security Transparency

As corporate America continues to grapple with the mounting cyber threat, a new survey reveals investors want more information about security practices and may even shun stocks of companies with a poor cyber track record.
The survey, conducted by Zogby Analytics and released by HBGary, raises difficult questions facing C-Suites as regulators push for greater cyber transparency, while CEOs are leery of generating negative PR.
According to the survey of 405 U.S. investors, more than 70% of investors are interested in reviewing public company cyber security practices and almost 80% would likely not consider investing in a company with a history of attacks.
Interestingly, respondents indicated they were twice as worried about a company having a breach of customer data (57%) than theft of intellectual property (29%).
“Consumer data breaches grab the headlines and the large liability settlements. But the lack of concern for IP theft, underscores the need for broader education about the financial risk IP theft poses to a company," Jim Butterworth, HBGary chief security officer, said in the report. "The pilfering of American company trade secrets and other sensitive data is happening every day  – costing our corporations billions of dollars in lost revenue."

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