Moody’s global issuer cyber survey shows that financial institutions, corporations, infrastructure issuers and governments are becoming more vigilant about cyber threats and increasing their investments in this area. However, their preparedness levels and defensive capabilities are far from uniform. 

One aspect of that preparedness is an organization’s approach to cyber governance. According to Moody’s Vice President Lesley Ritter, a co-author of the report, “Cybersecurity governance sets the tone for an issuer's overall cyber strategy. Our survey found that 93% of respondents' organizations have a cybersecurity manager, a credit positive. But, the importance of this position within the broader enterprise, as measured by reporting lines, varies.” 

Another part of the report addresses the types of cyber defense mechanisms used across each sector. Survey responses show that Financial Services respondents consistently make greater use of each cyber defense practice we inquired about, while other sectors lag, particularly with regards to use of more advanced defense practices. 

Other key topics explored in Moody’s report are: 

» The lack of standardization in defining and reporting cyber incidents and materiality » A keen focus on addressing supply chain vulnerabilities, particularly in North America » Stand alone cybersecurity insurance remains the preferred approach to risk transfer. » Cloud adoption is growing, particularly in corporate sectors not facing regulatory limitations. 

Subscribers can access the report at: http://www.moodys.com/researchdocumentcontentpage.aspx? docid=PBC_1261056 

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This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.