Irish organisations are unprepared for cyber attacks. EY's annual Global Information Security report says that half of Irish organisations have no real-time insight on cyber risks, lacking the agility, budget and skills to combat rising cybercrime.
It also says 47% of Irish organisations believe it unlikely they would even detect a sophisticated cyber attack. The survey - "Get Ahead of Cybercrime" - surveyed 1,825 organisations in 60 countries, including Ireland.
EY's Hugh Callaghan says that cyber attacks are indiscriminate, and can affect a number of organisations and small and large enterprises are being targeted now. Cyber threats often have different motivations - some of them can be malicious, some can be politically motivated but often there is a financial motivation behind them. He says there is an increasingly mature view that everything from individual operations to loose collectives, as well as criminal organisations and state-sponsored hackers are behind the attacks. He also says the internal threat of disgruntled employees can not be overlooked and consistent with recent surveys, organisation's main concerns are focused on their workers' carelessness or unawareness. Ireland's attitude to cyber crime is broadly consistent with the other 60 countries in the survey, but Mr Callaghan says there is a definite growing awareness of the number and sophistication of the attacks out there. He also says people only read about the attacks reported and the attacks that happen often malware or hacking or defacement of websites or even a denial of service.
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MORNING BRIEFS - The price of Brent crude oil has fallen 30% since June and last night US crude closed at $73.69 a barrel ahead of a meeting of OPEC oil producers today. There is speculation that OPEC could announce today its first cut in oil production since 2009 - and that would be in an attempt to support the oil price.
The fall in prices is being put down to a sharp rise in US shale oil output - or fracking - and weakening global demand. The price of oil has fallen also because data showed crude stocks rose last week. Some OPEC ministers think the market will "stabilise itself eventually" but others in the oil cartel are split over how to react to the sharp slump in oil prices.
*** Cognac maker Rémy Cointreau has reported a 15% fall in operating half-year profit, to €102m. The French group says it "remained adversely affected by evolving consumption patterns in China".
*** Aer Lingus Regional will run services on the Kerry-Dublin and Donegal-Dublin routes from early next year after its operator won a tender process. The airline - operated by Stobart Air - will provide the services under the Government's Public Service Obligation scheme, which subsidises select carriers on a number of designated routes serving regional airports. Aer Lingus Regional already holds the PSO contract for Kerry-Dublin, while Loganair holds the Donegal-Dublin agreement, flying the route under the Flybe brand.
