The global physical security field protects some of the most important business assets around the world. A necessary tool in any company’s arsenal, a tough physical security program is needed for any business’s success and safety.
$1 trillion lost in revenue
Now, the new World Security Report from Allied Universal reveals that global companies lost a total of $1 trillion in revenue in 2022 as a result of physical security breaches.
They reveal that “economic unrest” is forecasted to be the most significant security hazard over the next year.
IFSEC Insider covered the report’s findings, writing that climate change, fraud, theft, and social unrest are all physical security threats that will continue to escalate. In light of all of these security dangers, they report that physical security teams’ budgets will only continue to surge to offer the most comprehensive defenses.
“Fraud — deception intended to result in gain — is likely to be the biggest external threat over the coming year whilst leaking of sensitive information is predicted to be the biggest internal threat,” the website reports. “Dangers posed by hackers, protestors, spies, and economic criminals are also expected to soar.”
The report’s findings
For the report, Allied Universal surveyed 1,775 chief security officers from companies in 30 countries. Here’s a snapshot of the findings:
- 25% of surveyed companies reported a drop in corporate value after “an external or internal security incident’ in the past year.
- 47% report “economic unrest” was the “greatest security-impacting hazard in the next 12months.” It was 39% just last year.
- 38% say they may be impacted next year by “climate change events.” 35% cited social unrest, 33% listed “disruption to energy supplies,” and 32% pointed to “war or political instability.”
- 35% reported the misuse of company resources or data in the past 12 months — the most common “internal incident” at these firms.
- 25% said “fraud is expected to be the biggest external threat in the next year.”
- 23% also said that “fraud, phishing, and social engineering” were the most commonly experienced “external security incidents over the past 12 months.
- Finally, IFSEC writes that “the threat from… subversives, hackers, protestors, or spies and economic criminals are likely to soar, with 50% and 49% of respondents predicting they will be impacted by these groups.”
The bottom line
Those were just the top-level findings of the report.
Make sure to read the complete paper here. They sound an alarm to physical security experts large and small, domestically in the United States and globally.
Physical security breaches can impact on a company’s bottom line, which is why the most robust strategy possible has to be put in place.
Peter Cavicchia II 