Keeper Security Releases Cybersecurity Disasters Survey: Incident Reporting & Disclosure

Keeper Security Releases Cybersecurity Disasters Survey: Incident Reporting & Disclosure

Keeper Security, the leading provider of cloud-based zero-trust and zero-knowledge cybersecurity software protecting passwords, passkeys, secrets, connections and privileged access, today released findings of its Cybersecurity Disasters Survey: Incident Reporting & Disclosure. The findings reveal widespread shortcomings in reporting cybersecurity attacks and breaches, both to internal leadership and external authorities.

Cybersecurity incident reporting falls short 

Keeper’s survey shows a lack of policies for cyber incident reporting, despite the growing risk of cyberthreats. Nearly three-in-four respondents (74%) said they were concerned about a cybersecurity disaster impacting their organization, and 40% of respondents said their organization has experienced some type of cyber disaster. Despite these concerns, reporting breaches to a company’s leadership team and to proper authorities is often avoided.

  • External reporting: 48% of respondents were aware of a cybersecurity attack that their organization did not report to the appropriate external authorities.
  • Internal reporting: 41% of cyberattacks were not disclosed to internal leadership.

Incident reporting is low; guilt is high

Of those who admit they’ve failed to report an attack or breach to leadership, 75% said they felt “guilty” for not doing so. Fear, forgetfulness, misunderstanding and poor corporate cyber-culture all contribute to widespread underreporting of security breaches. The top three reasons why an attack or breach was not reported to leadership:

  • Fear of repercussion (43%)
  • Thinking reporting was unnecessary (36%)
  • Forgetting to report the incident (32%)

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Organizational cultures do not prioritize cybersecurity

Despite the potential for long-term financial and reputational consequences, poor disclosure and transparency practices prevailed. Failure to report was largely based on the fear of short-term harm to the organization’s reputation (43%) and potential for financial impacts (40%).

Respondents also cited a strong need for senior leadership to demonstrate a vested interest in the organization’s cyber posture, and stand beside their IT and security teams, providing the resources and support they need to report and respond to attacks.

  • A combined 48% of respondents did not think leadership would care about a cyberattack (25%) nor would respond (23%).
  • Nearly one-fourth of all respondents (22%) said their organizations had “no system in place” to report breaches to leadership.

“The numbers point to a need for organizations to make significant cultural changes around cybersecurity, which is a shared responsibility,” said Darren Guccione, CEO and co-founder of Keeper Security. “Accountability starts at the top, and leadership must create a corporate culture that prioritizes cybersecurity incident reporting, otherwise they will open themselves up to legal liabilities and costly financial penalties, and place employees, customers, stakeholders and partners at risk.”

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