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Cybersecurity: A Wake-Up Call for Czech Companies

PRAGUE, CZECH REPUBLIC - In the era of digital transformation, cybersecurity has become a top priority for businesses. However, a recent survey by PwC reveals that many Czech companies are hesitant to report cyber-attacks to government or law enforcement agencies.

According to the survey, only 37% of Czech respondents would very likely or likely share information about cyber-attacks with government agencies, compared to over 50% globally. The reasons for this reluctance are varied, but top concerns include:

  • Risk of uncontrolled public disclosure (64%)
  • Lack of trust in enforcement agencies’ expertise (50%)
  • Legal privilege not to share information (50%)

“When a company’s database or employees’ personal details are stolen, it can be a serious blow to their reputation,” said Michal Čábela, Head of Cyber Security team at PwC. “However, failing to notify the relevant authorities can have even more severe consequences.”

The Czech Government’s Regulations

The Czech government has implemented regulations requiring companies to report certain types of cyber-attacks, such as those that compromise personal data or critical infrastructure. However, many companies opt not to report these incidents, citing concerns about reputational damage.

“Companies usually tend to keep these events secret in order to prevent harm to their reputation,” said an industry expert. “But this approach can lead to a lack of transparency and accountability.”

Recommendations for Combating Cybercrime

To combat the growing threat of cybercrime, experts recommend having a robust response plan in place before an incident occurs. This includes:

  • Identifying key personnel
  • Establishing communication protocols
  • Knowing what evidence to preserve

“A proper response plan is essential for successful investigation of data leakage,” said Pavel Jankech, Director at Forensic Technology Solutions in the Czech Republic. “Companies must be prepared to respond quickly and effectively to minimize damage.”

Conclusion

While cybersecurity is a critical concern for Czech companies, many are failing to report cyber-attacks to government agencies due to concerns about reputational damage. To address this issue, experts recommend increased transparency and accountability, as well as robust response plans in place.

Key Takeaways

  • Only 37% of Czech respondents would very likely or likely share information about cyber-attacks with government agencies.
  • Top reasons for not reporting cyber-attacks include risk of uncontrolled public disclosure, lack of trust in enforcement agencies’ expertise, and legal privilege not to share information.
  • Companies often prioritize keeping incidents secret to protect their reputation.
  • A robust response plan is essential for successful investigation of data leakage.

Sources

  • PwC’s Global Economic Crime and Fraud Survey 2018
  • Czech respondents surveyed by PwC

Industry Insights

  • Michal Čábela, Head of Cyber Security team at PwC
  • Pavel Jankech, Director at Forensic Technology Solutions in the Czech Republic