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Cybersecurity: Companies Fear Reporting Cyber-Attacks to Government Agencies
In a recent survey, only 37% of Czech companies reported that they would notify government agencies or law enforcement about a cyber-attack or suspicion of one. This lack of trust in reporting cyber-attacks is a major concern for cybersecurity experts, who warn that failing to do so can have serious consequences.
Why Companies are Hesitant to Report Cyber-Attacks
According to the survey conducted by PwC’s Global Economic Crime and Fraud Survey 2018, Czech companies cited three main reasons for not reporting cyber-attacks:
- Risk of uncontrolled public disclosure (64%)
- Lack of trust in enforcement agencies’ expertise (50%)
- Legal privilege not to share information (50%)
Companies want to avoid reputational damage by keeping these events secret. However, experts warn that this approach can have serious consequences.
Consequences of Not Reporting Cyber-Attacks
If a company fails to notify authorities and the fact of the data breach comes to light later, it can lead to fines from regulatory bodies and lawsuits filed by clients.
What Should Companies Do?
Experts recommend having a proper response plan in place before an incident occurs. It’s essential to have a plan in advance, including knowing what to do first, who to contact, and how to communicate to ensure a successful investigation.
Government Regulations and Education
The Czech government has introduced regulations requiring companies to report certain types of cyber-attacks, such as those that compromise personal data or critical infrastructure. However, experts say more needs to be done to increase trust in reporting cyber-attacks.
“We need to educate companies on their obligations under the law,” said Michal Čábela, Head of Cyber Security team at Risk Assurance. “We also need to work with government agencies to build trust and ensure that they have the necessary expertise to handle these types of incidents.”
Successful Investigation
Experts say that successful investigation of data leakage requires a combination of proper planning, quick decision-making, and effective communication.
“Investigation is key,” said Pavel Jankech, Director at Forensic Technology Solutions in the Czech Republic. “Companies need to look beneath the surface and identify the root causes of the breach to prevent it from happening again in the future.”
In conclusion, companies should prioritize having a proper response plan in place and report cyber-attacks to government agencies to ensure successful investigation and prevention of future breaches.