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November 30, 2016

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Rising cases of online security risk

THE average number of detected incidents covering online security issues among firms in China doubled in 2016 from a year ago due to loopholes in cyber security and new technology like the Internet of Things, PricewaterhouseCoopers said yesterday.

There was an average number of 2,577 detected security incidents in China in the 12 months through November, a surge of 969 percent from 2014 and more than double the average recorded in 2015, found PwC’s survey, covering 10,000 top executives globally with error margin below 1 percent.

Phishing is the top cyber risk facing companies, PwC said.

The cyber security problems of companies and governments can cause more serious and wide-ranging loss compared with attacks targeting consumers, said officials from Qihoo 360 and Kaspersky.

Chinese firms are advised to increase investment in security, tapping new technologies like artificial intelligence and cloud computing, analysts said.

“We see forward-looking organizations in the domestic market are investing in advanced security,” said Chun Yin Cheung, cyber security and privacy partner of PwC China.



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