Nearly one third of firms are not adequately equipped to cope with smartphone security concerns.
Thirty two percent of businesses are inadequately equipped to achieve the mobile security level needed for IoT and BYOD, said a Verizon report. The report indicated that bring your own device policies are leaving companies open to cyberthreats. Many firms are unprepared for the Internet of Things.
Nearly one in three businesses said they sacrificed mobile security in favor of business performance.
Moreover, the Verizon report showed that only 14 percent of businesses had implemented the basic mobile security level steps. For most companies, mobile technology has become a central component of the way they function. As the Internet of Things (IoT) and its related devices make their way forward, this trend is only widening.
That said, companies aren’t keeping up with the best cybersecurity practices. This, despite the growing number of high profile threats over mobile technology. Verizon data states that 32 percent of organizations admit they place greater priority on business performance than mobile security. This was published in the telecom’s Mobile Security Index 2018.
The mobile security level report was based on the survey participation of 600 mobility professionals.
Among the mobility pros Verizon surveyed, many stated there were some specific reasons they were light on mobile security vigilance. Still, they also acknowledged that the result of the low level of effort to protect themselves from mobile cybersecurity threats, serious consequences were resulting.
For instance, professionals who stated that they were aware their business had opted to give greater priority to performance over security had a likelihood of data loss or downtime that was twice as high as those who made a greater effort to protect themselves. Among companies prioritizing performance, 45 percent had experienced data loss and downtime. Among companies prioritizing mobile security, only 19 percent had fallen victim to those events.
Even though the risks are broadly acknowledged, only just over 1 in 10 businesses had implemented even the most basic mobile security level throughout their organizations. In fact, only 39 percent had changed all default passwords. Fifty nine percent said that there were app download restrictions in place for employees. Moreover, only 38 percent said their mobile devices used two-factor authentication.