Business users appear to be failing to understand the consequences of losing data, being landed with fines and the risks to brand and reputation and are not giving security the importance it deserves.
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Despite looming changes in data protection coming from the European Commission that threaten to levy massive fines on firms that are lax with data NTT.Com Security has found that many companies are still not grasping what risks they could face.
The security specialist set out to find out what the attitude towards risk was among customers and was surprised to find that many were not on top of protecting data.
Stuart Reed, director at NTT.Com Security, said that there were a factor of reasons why customers were struggling with getting on top of data security including struggling with getting hold of trained staff.
Lax attitudes to risk
· On average 10% of an organisation’s IT budget is spent on data/information security
· Around half (49%) regard data security as ‘expensive’ and 18% see it as ‘disruptive’.
· Over half (57%) have a formal data security policy in place, but less than half (47%) have a business or disaster recovery plan in place in the event of a breach
· Less than half (44%) report that all of their critical data is ‘completely secure’.
· 55% of respondents report that (consumer) customer data is vitally important to the success of their business, but only 38% report that all customer data is ‘completely secure’.
· 45% report that business performance data is vitally important to their business, but only 31% admit that all of this data is ‘completely secure’.
"There is a recognition that a breach is bad for business. In some cases the organisational culture needs to change," he added "The damage to reputation and loss of customer confidence that has a big impact on their business."
The channel player found that only 44% of customers felt that their data was truly secure indicating that there was a big opportunity for the channel to get in and provide support for customers.
He said that education remained one of the channel's primary roles and its survey had revealed that there continued to be many customers needing support around some of the basics, including establishing policies and comprehending risk.