Finally, private sector firms are lagging even in the adoption of cloud DNS firewalls. Overall, the method is being adopted quickly, with 73 per cent of organizations saying they have one, compared to 62 per cent one year ago, and only 42 per cent in 2018. And again, the private sector is the laggard in this area with 71 per cent using a cloud DNS firewall compared to 78 per cent of the public sector.
It’s clear that despite reporting being the victim of hackers more often, the private sector is not as willing to invest in cybersecurity as the public sector.
But why is that? Here we can look at the reasons that public and private sector organizations give for investing in cybersecurity. Once again, private firms lag the public sector and just may feel less motivation to invest against the prospect of a hack:
Sixty-two per cent of public sector organizations say they devote resources to cybersecurity to secure continuity of operations, while only 52 per cent of private sector firms say the same.
Sixty-four per cent of the public sector say their investments are to protect employees, suppliers, or partners' personal information while only 49 per cent of private sector firms say the same.
Sixty-one per cent of public sector organizations say they invest to protect the reputation of the organization. Only 47% of private firms say the same.
It’s important to remember that, overall, this year’s survey shows that private sector firms are doing more for cybersecurity preparedness. They’re more concerned than they were last year and to some degree, many private firms are planning more investment or to take new actions to improve cyber security. They are just not doing so to the same degree as public sector organizations.
Hopefully, those private sector firms don’t find themselves in next year’s news headlines. Because cybersecurity is one big issue that’s not going away any time soon.
***Private sector (i.e., for-profit business) • Public sector (all) • MUSH (public sector, including only municipal government or agency, hospital or other health care organization, primary or secondary school, college or university, or school board)