GRC Viewpoint

KPMG 2022 Fraud Outlook Shows Cyber Security Remains A Critical Issue

According to a recently released KPMG 2022 outlook on fraud, cyber security is still a top priority for enterprises in the U.S. The report takes an in-depth look at cyber attacks, compliance, and fraud across the U.S. 

Most businesses in North and Latin America claimed to have lost money due to fraud, compliance violations, or cyberattacks. 

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These findings hint at certain aspects. First, the U.S. is yet to achieve an entirely adequate cyber strategy. Second, cyber threats continue to evolve on a day-to-day basis. IT experts are forced to devise innovative ways to deal with cyber attacks. 

The cyber security scenario is a unique blend of opportunities and challenges. As a result, the upcoming years are also likely to witness tremendous cybersecurity activities. 

The report also highlights certain features:

READ MORE: Microsoft Announces Innovative Solutions for Attack Surface Management and Threat Intelligence

Large enterprises face increased risks for fraud. Also, the nature of the threats encountered by both regions varies. 

The inflow of cyber threats is likely to continue. This is something that the enterprises agree on uniformly. The immediate years are likely to observe more such threats. 

Matters were made worse by the covid-19 pandemic and its subsequent restrictions. 

Enterprises need to realize that cyber security is expected to be a persistent threat. Therefore, a slow and steady approach will not win the race for cyber security. According to respondents, it takes an average of one month to control a cyberattack completely, and most of them are happy with how well their organizations are doing.


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