Growing concern about cybercrime in the Danish corporate sector
Cybercrime Survey 2022
We continue to see a large number of cyberattacks in the Danish corporate and public sectors. More than six in ten business leaders and IT professionals are more worried about cyberattacks today than just a year ago, and a large majority point to Russia’s invasion of Ukraine as the reason for the growing concern. This will affect organisations’ cybersecurity activities and investments over the next 12 months.
51 %
have experienced at least one cyberincident in the past 12 months
63 %
are more concerned about cyberthreats today than 12 months ago
73 %
say that their growing concern is related to the conflict between Russia and the West
72 %
of the major organisations will increase their cybersecurity budget within the next 12 months
Russia’s invasion is raising concerns about cyberthreats
Russia’s invasion of Ukraine has created a renewed threat landscape in the West, and the increased level of threat is reflected in the cybercrime concerns of CXOs and IT professionals. The survey shows that 63% of CXOs and IT professionals in the Danish corporate and public sectors are more concerned about cyberthreats than they were 12 months ago. The increase in the share of CXOs and IT professionals who are concerned about the cyberthreat is largely due to the conflict between Russia and the West. Thus, as many as 73% say that their concern is to some or a high extent related to the ongoing conflict. As a direct result, 47% have planned or implemented new security measures; in the public sector this applies to more than six in ten.
“The ability to isolate and mitigate incidents is crucial to ensure that an organisation’s business-critical systems do not fall like dominoes, resulting in incalculable business losses.”
The threat from hacktivists has increased significantly
Organised criminals continue to top the list of organisations’ biggest cybersecurity threats. Compared to last year, this year has seen a significantly higher number of Danish organisations finding hacktivism to be among the biggest threats. In 2022, 47% of CXOs and IT professionals find hacktivists to be one of the biggest threats, up 11 percentage points from last year. The development is in line with the upward adjustment of the threat of cyberactivism against Danish organisations from low to medium by the Centre for Cyber Security (CFCS) in the summer of 2022. According to CFCS’ threat assessment, pro-Russian hackers might target organisations in Denmark. This is a change from recent years, where the CFCS has not expected cyberactivists to go after Danish targets.
Did you know that this is the fourth consecutive year that more than every other organisation has experienced more than one cyberincident?
Phishing attacks top the list of incidents
The survey shows that the vast majority of those who have experienced a security incident over the past 12 months have been the target of a phishing attack. This applies to as many as 76% of those who have been affected.
A majority of the organisations expect to increase their investments in cyber and information security. 59% say that their organisation’s cyber and information security budget will grow within the next 12 months; large private-sector organisations in particular expect to increase their security budget. Here, 72% expect to increase the budget within the next 12 months.
Access the full report
More than 500 CXOs and IT professionals have participated in PwC’s Cybercrime Survey 2022 and given their assessment of the current level of IT security and cybersecurity in the Danish corporate sector. The report provides updated insights into the biggest threats to the various sectors, types of incidents and the initiatives and investments that organisations prioritise to counter risks and meet new requirements.
Download the report and learn more about:
- The level of incidents in the Danish corporate sector
- New concerns and initiatives in the light of the war in Ukraine
- Challenges and trends across sectors
- Organisations’ largest investments
- Recommendations to prevent and mitigate cyberattacks.
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