Retail industry sees most cyber incidents in APAC due to lack of cybersecurity budget
19% of companies in the region have experienced cyber incidents due to insufficient cybersecurity investment in the last two years. When it comes to companies’ finances, nearly one-in-five (16%) admit they do not have the budget for adequate cybersecurity measures.
According to a recent study by Kaspersky, globally, critical infrastructure, oil & gas and energy organizations suffered the biggest number of cyber incidents due to improper budget allocation (25%). In Asia Pacific, however, the retail industry experienced the greatest number of successful cyberattacks in the past 24 months.
The latest survey also revealed 19% of companies in the region have experienced cyber incidents due to insufficient cybersecurity investment in the last two years. When it comes to companies’ finances, nearly one-in-five (16%) admit they do not have the budget for adequate cybersecurity measures.
Kaspersky conducted a study to discover the opinions of IT Security professionals working for SMEs and enterprises worldwide regarding the human impact on the cybersecurity in a company. The research – aimed at gathering information on various groups of people who influence cybersecurity – considered both internal staff, and external contractors. It also analyzed the impact decision makers have on cybersecurity in terms of budget allocation. A total of 234 respondents from APAC were surveyed.
Insufficient distribution of budget for cybersecurity led 19% of Asian companies to endure cyber incidents in the last two years.
The situation is different for every industry. For example, retail organizations suffered the greatest number of cyber breaches because of the lack of budget (37%), followed by telecommunication companies (33%) and critical infrastructure, energy, oil and gas sector (23%).
“E-commerce is expected to be a 2.05 trillion USD market in Asia Pacific towards the end of 2023. Retail being the industry which suffered most cyber incidents here makes sense as cybercriminals follow the money trail. These companies are part of the greater digitalization movement in the region and hold treasure troves of data, specifically financial ones,” comments Adrian Hia, Managing Director for Asia Pacific at Kaspersky.
“Our recent study proves that threat actors know which company to target. They know the data they want and where to get them. I encourage all industries in APAC, especially those that handle critical information, to allot a better cybersecurity budget to ensure the safety of their businesses, and most importantly, of their customers’ sensitive data,” he added.
Meanwhile, some industries showed a smaller number of cyber incidents. Manufacturing industry suffered 11% of cyber incidents due to budget constraints, while transport & logistics saw 9% of them.
When asked about the budget for cybersecurity measures, a majority (83%) of respondents from APAC said they are equipped to keep up with or even stay ahead of new threats. However, 16% of companies are not doing so well – 15% report that they don’t have sufficient funds to protect the company’s infrastructure properly.
At the same time, there are still companies without cost allocations for cybersecurity at all – 2% claimed they don’t have a dedicated budget for cyber protection needs.
The most successful industry in APAC in terms of proper monetary distribution for cybersecurity are financial services – 100% of respondents working in this sphere claim their organizations are set to keep up with and stay ahead of all new threats.
Would you say the budget for cybersecurity measures in your company …?
Many respondents’ companies are eager to take steps to strengthen their cybersecurity in the next 1-1.5 years. One of the most popular areas of investment is threat detection software (46%), and trainings, where half (50%) of companies plan to allocate budgets for educational programs for cybersecurity professionals and 46% for training general staff.
Other popular measures organizations plan to take soon are introducing endpoint protection software (42%), hiring additional IT professionals (37%) and adopting SaaS cloud solutions (45%).
“Today, companies must align cybersecurity investment with a business strategy and consider cybersecurity as one of their business goals. Of course, investments must justify themselves and be effective, so the information security department also faces the task of increasing the ROI of investments in information security and defending investments to senior management or the board of directors. Also, in addition to reducing MTTD and MTTR, information security is tasked with reducing the cost of a security incident. These challenges can be met through the use of various modern approaches and technologies. For example, we are investing in developing our SASE portfolio as well as XDR and MDR with integrated AI, Machine Learning, automated detection and response, automated threat investigation, out of the box integrations and much more. To ensure process transparency and prove the value of our solutions, we also provide C-level dashboards and reports for CISOs, which include information on how many incidents we prevented, how quickly incidents were investigated, and the effectiveness of deployed cybersecurity solutions. We also highlight customer-specific risks, and show them trends particular to the industry to help them shape their cybersecurity by targeting their defenses around current dangers, and justify investments in the necessary technology,” comments Ivan Vassunov, VP, Corporate Products at Kaspersky.
The full report and more insights on the human impact on cybersecurity in business are available via the link.
To get the most out of your budget, Kaspersky recommends:
Implementing cybersecurity products with Advanced Anomaly Control such as Kaspersky Endpoint Detection and Response Optimum. This helps prevent potentially dangerous ‘out of the norm’ activities initiated both by a user or by an attacker who has already taken control over the system.
Using easily-manageable solutions. Kaspersky Endpoint Security Cloud is designed for smaller enterprises or companies that don’t currently have the budget for a wide stack of cybersecurity products. The all-in-one hosted SaaS console allows just a single administrator to manage a broad range of cybersecurity tasks from one place, with a simple and easy-to-master workflow.
Investing in training for everyone in your company – from general staff to decision makers. Kaspersky Automated Security Awareness Platform training teaches employees safe internet behavior and includes simulated phishing attack exercises. At the same time, Kaspersky Cybersecurity for IT Online training helps build up simple yet effective IT security best practices and simple incident response scenarios for generalist IT admins, while Kaspersky Expert Training equips your security team with the latest knowledge and skills in threat management and mitigation to defend your organization against even the most sophisticated attacks. And last but not the least, to advance decision-makers’ understanding of the importance of cybersecurity and how best to distribute budgets to stay ahead of threats, engage them with Kaspersky Interactive Protection Simulation for enhanced C-level professional education.
Considering experts’ help. For example, Kaspersky Assessments family of professional services identifies security gaps in your system’s configuration, and the Security Architecture Design helps create an IT security infrastructure that’s a perfect fit for a particular company. Every step of implementation is grounded in real security needs, giving decision-makers convincing arguments to allocate budgets.
Referring to Kaspersky’s ‘Cybersecurity on a budget‘ resource for small and medium businesses for tips on how to spend less on IT without compromising on security.
Structure of online reviews shapes their helpfulness
Reviews that grow increasingly positive are most helpful to readers, while those that turn negative are least helpful. For average-rated products, progressively negative trajectories enhance helpfulness, whereas reviews that start negative and grow positive are least effective.
A study of nearly 200,000 Amazon reviews shows that the usefulness of online product reviews depends not only on what is said, but on how the information is structured.
The researchers, from the Universities of Cambridge and Queensland, studied Amazon reviews for products ranging from clothing to food to electronics. They found that how the information is organised matters as much as what is said, and that different review structures are more or less helpful, depending on how highly the reviewer has rated the product.
Their results, published in the journal Scientific Reports, could help companies and third-party review platforms design their review pages to prompt the sort of reviews that will be most helpful to potential customers.
For example, a reviewer assessing a laptop might praise its performance and design while criticising its battery life, so how should such information be structured to be most useful to the reader? Should the review begin with criticism and end on a positive note, or start positively before turning to drawbacks?
“Any target of evaluation typically has both positive and negative aspects, which makes crafting evaluative messages challenging,” said co-author Dr Yeun Joon Kim from Cambridge Judge Business School. “The key question is how to structure these elements within a single message. For example, one might present criticism upfront and then move to praise, or instead integrate negative points within an otherwise positive evaluation. Yet research has paid little attention to this structural dimension.
“We wanted to understand whether certain structures are consistently more effective, or whether their effectiveness depends on the performance of the target being evaluated.”
The study was based on 195,675 reviews of 5,487 distinct products, and assessed performance and related factors, and a helpfulness score as measured by reader votes.
The researchers identified nine possible structures of online reviews ranging from Type A reviews that start positive and become more positive as they go along, to Type I reviews that start negatively and become even more negative – with lots of variance in between.
For highly-rated products, reviews that grow increasingly positive are most helpful to readers, while those that turn negative are least helpful. For average-rated products, progressively negative trajectories enhance helpfulness, whereas reviews that start negative and grow positive are least effective. For low-rated products, reviews are judged most helpful when they open constructively before introducing criticism.
“The results are nuanced but very clear,” said co-author Dr Luna Luan from the University of Queensland, who carried out the research while earning her PhD at Cambridge Judge Business School. “Looking at the overall sentiment of reviews does not fully translate into message effectiveness. It is the broader structure of sentiment – how positivity and negativity evolve throughout the review – that shapes how readers interpret online reviews.”
“Our findings have practical implications for how platforms and companies can design review pages in order to elicit the sort of reviews that will be most helpful to readers based on how highly products are rated,” said Kim. “For example, instead of simply asking ‘Write your review here’, the online review form could instead include micro-prompts that guide how reviewers structure feedback in a way recipients find most helpful.”
The researchers found the most commonly used review styles are not necessarily the most helpful to readers. In particular, for average- and low-rated products, the structures that reviewers tend to adopt often differ from those that readers find most useful.
This mismatch likely reflects different underlying motivations. Reviewers are not always writing to maximise usefulness for others, but may instead be expressing their own experiences, frustrations or emotions – especially when evaluating products of moderate or poor quality. As a result, review writing often serves both as information sharing and as a form of self-expression. This helps explain why widely used review styles do not always align with what readers perceive as most informative or helpful.
It’s estimated that consumers experience hundreds if not thousands of marketing messages daily. While the exact number can depend, how much someone believes the message can be more important for marketing success than the number of messages they see.
A new study reveals that a simple word choice in marketing messages can significantly impact how confident consumers feel about believing – or not believing – a claim. Researchers found that when words differ in their “reversability,” or how easily people can think of their opposites, it can trigger different mental processes when consumers evaluate marketing language.
Imagine the messaging options for a new sunscreen designed specifically for those who like a strong scented product. The first product description reads, “The scent is prominent,” while the second notes, “The scent is intense.” The word “prominent” is uni-polar, meaning people tend to negate it by adding “not” to the original statement.
“Intense,” though, is a bi-polar word, meaning readers can easily come up with its opposite meaning and negate the statement by replacing it with its antonym. In this example, “The scent is mild,” instead of, “The scent is intense.”
“When people encounter easily reversible words, like ‘intense’, in messages processed as negations (mild), they experience lower confidence in their judgements compared to words that are hard to reverse, like ‘prominent,’” explained Giulia Maimone, a postdoctoral scholar in marketing at the University of Florida Warrington College of Business.
Across two experiments of more than 1,000 participants, the research demonstrated that this effect occurs because negations of bi-polar, or reversible, words engage a more elaborate cognitive process requiring additional mental effort, resulting in lower confidence of the statement’s truthfulness.
Based on their findings, the researchers suggest that marketers take this advice when crafting language: for new products, use affirmative statements with easily reversible words, like ‘The scent is intense’ in the sunscreen example, which most consumers will judge as true with high confidence. Importantly, this language would also minimize the confidence of consumers who will be skeptical about the message, as they will process it via a more complex cognitive process that reduces confidence in those consumers’ disbelief.
“This simple lexical choice could help companies maximize confidence in their desired messaging and minimize confidence among the doubters,” Maimone explained.
If you’re a perfectionist at work, your boss’ expectations may matter more than your own, research finds
Help your employees by clarifying expectations through regular feedback and performance conversations to reduce role ambiguity, as doing so can provide employees with a better understanding of role expectations and enhance mutual understanding of those standards.
If you’re among the 93% of people who struggle with perfectionism at work, new research suggests that your experience may depend less on your own high standards and more on whether those standards meet your supervisor’s expectations.
Researchers from the University of Florida Warrington College of Business found that whether perfectionism helps or harms employees depends largely on whether employees’ personal standards align with their supervisors’ expectations.
Specifically, they looked at the connection between employees’ self-oriented perfectionism, or the expectations of flawlessness they set for themselves, and supervisors’ other-oriented perfectionism, which reflects the extent to which they set excessively high standards for and critically evaluate their employees’ performance.
Using data from more than 350 employees and about 100 supervisors, the researchers found that perfectionism’s impact depends on whether employees’ standards align with what their supervisors expect and how clearly those expectations are understood.
When employees’ personal standards are aligned with their supervisors’ expectations, they tend to experience less role ambiguity, meaning they have less uncertainty about the expectations and standards for their role, why those standards matter and the consequences of not meeting them. This clarity in their work is linked to better performance, lower burnout and higher job satisfaction.
“Problems between employees and their supervisors are more likely to arise when these expectations don’t match,” explained Brian Swider, Beth Ayers McCague Family Professor.
The most difficult situation occurs, Swider and his colleagues found, is when supervisors expect higher levels of perfectionism than employees expect from themselves. In these cases, employees reported greater uncertainty about their roles, along with worse work outcomes including higher burnout and lower job satisfaction.
“If you’re an employee who struggles with perfectionism at work, our findings suggest that understanding your supervisor’s expectations may be just as important as managing your own tendencies towards perfectionism,” Swider said. “Talking to your supervisor about priorities, standards and how your performance will be evaluated can help reduce uncertainty and ensure you both share a clear understanding of what success looks like.”
The researchers have similar recommendations for employers: help your employees by clarifying expectations through regular feedback and performance conversations to reduce role ambiguity, as doing so can provide employees with a better understanding of role expectations and enhance mutual understanding of those standards.
The researchers also recommend that organizations should consider how employees and supervisors are paired, as mismatched expectations can increase stress, reduce job satisfaction and ultimately impact performance.