Nordic Cyber Resilience Report 2024: Organizations investing more in cybersecurity as threats rise – further potential in collaboration

Tue, Oct 01, 2024 11:24 CET

More than half (54%) of the respondents surveyed* across Finland, Norway and Sweden report that their organization has experienced at least one cyberattack in the past year that caused serious disruption. Nearly nine out of ten (87%) anticipate the number of attacks to further increase in the coming years, yet only 32% feel very confident in their organization’s ability to detect and respond to incidents.

“While cyberattacks are seen to be increasing, only half of respondents signify their organization to have a clear plan for how to handle them. Organizations that have faced cybersecurity attacks are understandably feeling most prepared for future threats and have confidence in their ability to detect them,” says Sigrun Hansen Bock, Head of Cybersecurity Services at Tietoevry Tech Services.

“Our survey findings underline the importance of organizations keeping their cyber-preparedness updated. This means conducting realistic and systematic cybersecurity trainings and rehearsals, so that the learning does not happen the hard way,” continues Hansen Bock.

74% of respondents said their organizations have integrated cybersecurity into strategic planning, while 76% responded that they have increased their investment in cybersecurity compared to a year ago. The significant increase in cyber threats during the last years and the societal consequences of cyberattacks are evident, yet only 60% of respondents report to collaborate with other organizations to strengthen their cybersecurity efforts.

"While cyber threats pose significant challenges to society, and through the survey we can pick good trends for example in the increase of general awareness and cybersecurity investments. To make the most of these encouraging developments for the good of every level in society, cross-organizational collaboration is clearly calling for focus. Only 30% of respondents are collaborating with other organizations and officials in incident management and 30% say they are sharing information through networks and forums," Hansen Bock concludes.

Summary of the Nordic Cyber Resilience Report findings:

Respondents anticipate a significant increase in cybercrime. According to the report, more than half of the respondents (53%) experienced one or more cyberattacks causing serious disruption in the last year, and almost 90% anticipate a further increase in cybercrime.
Top management aware of incidents. 74% of respondents say they organizations have integrated cybersecurity into strategic planning, and 75% have increased their investment in cybersecurity.
Government support needed. Cybersecurity awareness is on the rise and with 75% of respondents saying they believe authorities are pay more attention to cybersecurity now compared to a year ago. However, 42% of respondents believe their government does not provide enough support for increasing resilience against cyber threats.
Knowledge of cybersecurity has increased, yet only 23% of respondents claim their organization is fully prepared for and compliant with upcoming EU regulations. The new NIS2 and DORA regulations are expected to enter into force from 2025.

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Tietoevry’s Nordic Cyber Resilience Report 2024 addresses the current state of cybersecurity within organizations across the Nordics focusses on the prevalence of cyberattacks, investments in cybersecurity measures, employee awareness, and organizational preparedness.

The survey was conducted in collaboration with Axiom Insight in Finland, Norway and Sweden in May-August 2024. More than 3000 respondents from private and public organizations contributed to the survey, with approximately 1000 drawn from each country. The survey aimed to reach professionals who have a decision-making role in cybersecurity within their organizations.

Tietoevry has conducted bi-annual cybersecurity surveys as part of its continuous efforts to raise awareness and counter cybercrime. This 2024 survey is our fourth.

Nordic Cyber Resilience Report 2024: Organizations investing more in cybersecurity as threats rise – further potential in collaboration

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