Technology- and healthcare-focused companies view cyber threat as a serious issue, yet only one-third of these businesses are confident their data is safe.

Article Excerpt:

The majority of technology and healthcare companies view cyber security as a serious threat to both their data and business continuity, and only one-third are completely confident in the security of their information in a survey of more than 200 technology company executives, according to Silicon Valley Bank.

“The survey shows us the threat of a cyber attack is not just hype. A surprising number of technology companies we heard from say the threat to their IP and their business is very serious,” said Bob Curley, Managing Director of corporate finance for Silicon Valley Bank. “Companies in the tech sector, particularly software companies, are feeling exposed, and increasingly having to expend resources to manage cyber attacks, rather than investing in the growth of their business. That’s a huge impact on a growing company, and eventually the economy overall.”

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