WASHINGTON (CBS DC) – Most businesses around the world are not ready to fight  back against cyberattacks, according to a new report.

Researchers at Economist Intelligence Unit and Arbor Networks surveyed 360 senior business leaders in the U.S., Europe and Asia-Pacific.

They found that even through 77 percent of the firms were victims of security breaches in the past two years, 38 percent of them still have no plan in place to respond to a hacking attack.

A mere 17 percent of the businesses claimed to be “fully prepared” for such an attack.

ZDNet reports security breaches can cost millions of dollars in lost information and damages.

A successful attack, like the one that stole information from 70 million Target customers, can also badly damage a company’s reputation.

Despite an increase in publicity about cyberattacks, many of the businesses told the researchers they rely on their internal IT departments to cope with online threats.

The firms that were hit with attacks in past two years were twice as likely to have hired outside experts or teams to evaluate the security of their computer networks.

And companies are reluctant to tell rivals about their cbyersecurity breaches; only a third said they share data with others to strengthen their responses.

nearly two-thirds said they do not publicize data breaches unless legally required to do so.

(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)


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