RSM US Middle Market Business Index Cybersecurity Special Report
The middle market realizes the cyberthreat, but uncertainty remains
WHITE PAPER |
Cybercrime has become a reality for the middle market. While major cyber incidents and data breaches at large corporations such as Marriott and Facebook continue to capture global headlines, middle market companies are starting to recognize that they are often the prime target for cybercriminals.
In the past, midsize companies often held the perception that they were too small to be a target for hackers. However, with rising concern across the board about several types of cybersecurity attacks uncovered in the first quarter 2019 RSM US Middle Market Business Index survey, these companies are starting to take notice.
15 percent of middle market C-suite executives said their companies experienced a data breach in the last year, up from 13 percent in 2018 and a significant jump from 5 percent just four years ago.
In addition to cybersecurity challenges, emerging data privacy regulations are requiring organizations to make a significant shift in how they collect and store data. Yet only 40 percent of executives report familiarity with the guidelines of the European Union's General Data Privacy Regulation or similar U.S. privacy legislation. RSM has developed this report to provide insights into relevant middle market cybersecurity and data privacy trends, and to highlight steps companies can take to enhance security and privacy efforts.
What's inside the 2019 Cybersecurity Special Report?
The report includes in-depth analysis and benchmarking information about several key areas, including:
- Growing confidence conflicts with rising cyber concerns
- Information and data security
- Cyber insurance
- Ransomware attacks
- Business takeover threats
- Privacy protections compliance
- Migration to the cloud
- Security mavericks to middle market directors: Become a harder target
- Top of mind cybersecurity concerns in the middle market