Back in the day, security processes were a little bit easier for businesses. For example, they only had to deal with physical threats like break ins and thefts. However, they also had to manage this without technology solutions like video alarm systems.
Now, companies are managing security on two fronts, with cybersecurity issues now taking up as much time and effort as tangible crimes. While it's a delicate balance to strike, most businesses are still favouring the physical, but there's always room for improvement.
A study from HR solutions provider Aon and privacy research firm the Ponemon Institute found that businesses are still focusing on the threats to their physical assets more than anything else. The study deals with the financial impacts of theft, finding that only half would be willing to reveal the loss of physical property in their financial statements
When comparing cyber assets with those in the physical world, Aon found that more than half (51 per cent) of tangible property is protected. In comparison, only 12 per cent of digital assets are protected in some manner.
Chairman and Founder of the Ponemon Institute Larry Ponemon believes that some organisations are struggling to react to security risks - physical or digital.
"The perception of the risk is interesting," he began. "It's clear that there is a risk and losses can be anticipated, but organisations are not insuring against the risk."
The growing risk of businesses being attacked in both the physical and digital world was confirmed by the first publicly distributed Australian Cyber Security Centre Threat Report, which found that digital attacks occur for similar reasons to the physical variety.
According to the organisation, cyber criminals, like regular offenders, are drawn to businesses that display wealth or access to technology.
If you think your security needs a bit of extra physical support, consider having one of our mobile security patrols keep on top of things.