Private sector wary of fed cyber security regs, oversight

Over 65 percent of respondents to a recent survey believe that the private sector does not need more government cybersecurity regulation. And a fraction more, 66 percent, said they don’t believe any current proposed regulations will improve their cybersecurity.

“There is growing acknowledgment of the importance of effective cybersecurity, but our regulatory track record does not create a compelling case for the efficacy of regulation,” according to the results of the nCircle 2012 Government Policy Security Trend Study.

In fact, 65 percent of respondents said neither the Homeland Security Department nor the National Security Agency should regulate cybersecurity for the private sector.

“The [respondents] know being compliant does not mean your network is secure. IT pros realize effective security regulations are very difficult to craft and must be adequately enforced to improve security across the board. There is growing acknowledgment of the importance of effective cybersecurity but our regulatory track record does not create a compelling case for the efficacy of regulation.” said Elizabeth Ireland, vice president of marketing for nCircle.

Despite objections to regulations, the respondents also said that not enough is being done to protect data and systems. Among other survey findings:

81 percent say the public sector is not doing an adequate job of keeping their personal data secure.

83 percent say cybersecurity investment in the private sector is not sufficient given the risk environment.

83 percent say cybersecurity investment in the public sector is not sufficient given the risk environment.

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