New Zealand organisations’ confidence in their information security measures is falling, according to a PricewaterhouseCoopers (PWC) study.

The annual Global State of Information Security Survey, released last week, shows 65% of respondents are “confident” or “somewhat confident” their cyber-security activities are effective. This compares with 83% last year.

Confidence in partners and suppliers has fallen even further, with the same responses dropping to 57% from 82%.

PWC says the figures may represent increased understanding of risks, with previous years’ high confidence not matched by actual measures in place.

“To have an effective strategy, organisations must understand which assets are most important to them, and then focus resources on dynamically protecting them by being in a position to detect, respond and recover when there is an incident,” Cyber Practice Leader Adrian van Hest said.

“There is no magic bullet for effective cyber security. It’s a journey towards a culture of security, not a solution in and of itself. It is a path that starts with the right mix of technologies, processes and people skills.

“The organisations that will flourish in tomorrow’s interconnected world are those that recognise that good cyber security is good business, and by managing their risks they can use digital technologies and their information assets to realise opportunity with confidence.”

The survey found 25% of New Zealand organisations with cyber insurance made a claim in the past year, compared with 50% globally.

About 42% of respondents that experienced a security incident in the past year say the source was a current employee – higher than the global figure of 34%.