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Trust in Data and Metrics Processes Causes Security Headaches for Financial Services

May 19, 2020

The Panaseer Team

Security leaders are being challenged to create business metrics, but without having total trust in the data they work with.

According to research by Panaseer of over 400 security leaders in financial services organizations, 96% of companies use metrics to measure their cyber-posture, but 36% said their biggest challenge in creating metrics to measure and report on risk is trust in the data.

Other issues included the resources required to produce metrics (21%), the frequency of requests (14%) and confusion over knowing what metric to use (15%). Fewer than half of respondents (47%) could claim to be very confident that they are using the right security metrics to measure cyber-risk.

Nik Whitfield, CEO, Panaseer, said not knowing the accuracy, timeliness or even limitations of a security metric can render it useless – which is simply unacceptable against a backdrop of tightening regulation and an increasing attack surface.

You can read the full article by Infosecurity Magazine UK here.