Thursday, November 10, 2016

Overconfidence

In the Greek mythology, pride and arrogance were elements that often defined the different character’s actions in their myths. Hibris is a term in mythology that describes a personality quality of dangerous overconfidence and refers to the excesses of wanting to challenge and transgress the boundaries of the gods. According to Isaiah, in the Judeo-Christian tradition, Lucifer fell to the ground because of his pride and vanity, when he rebelled against the Creator. Lucifer was not only beautiful but also wise. Hence in Latin, his name means “the light-bearer”. 


The survey was conducted among two thousand executives of companies that have an invoice of more than 1 billion euros per year. Of them, 3 out of 4 are convinced that they will be able to catch the cyber attackers. But this overconfidence would be putting their organizations at risk. The report also revealed that more than the half of the respondents were fully convinced that they could stop the most complicated breaches in just a few months. However, a third of these attacks are never discovered. 

Especially in the English-speaking world you can appreciate this kind of poor performance when it comes to detecting successful breaches. To the 30% of the organizations in the United States and the 26% of British companies, it takes more than a year to detect sophisticated cyber attacks. Most of these attacks happen in English-speaking companies. British are the second ones in the world, after the Germans, that believe they can detect everything that is happening in their systems.

Managers from the largest companies in 15 countries stated that they have fully inserted the culture of cybersecurity in their environments. However, successful cybercrime happens on an average of two to three times a month. Despite the overconfidence, around 54% of the executives would invest in an additional budget. Only 17% would invest in cybersecurity, and 28% would invest in mitigating the financial losses.

Speaking of pride and vanity, Donald Trump’s triumph in the United States has crashed the Canadian Inmigration website because of people who may be thinking of crossing the borders to the North. His success has provoked fear in a large sector of the population that is still in shock by the election results. 

In the world of cybersecurity, unlike other environments, vanity or overconfidence can be paid dearly. The best thing is, perhaps, to behave with more modesty and precaution. 

Original image source: Freeimages.com

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