A third of UK businesses have no data breach response plan.
According to the research of 400 senior business executives, only a third have specific budgets set aside to deal with data breaches, despite the majority saying that they are concerned about the financial impact of recovering from a breach.
Amir Goshtai, managing director of affinity at Experian Consumer Services, says the prevalence and severity of data breach incidents will continue to accelerate, as will the volume of reported cases. When coupled with the potential for greater regulation, increased consumer awareness and widespread media coverage, it has never been more important for organisations to be well prepared.
As long as there is a market for stolen data, data breaches will continue to increase.
Data breaches continue to rise because they are lucrative, relatively low risk, and can be engineered using readily available malware on the black market and publicly available information on the internet.
Its concerning that a large percentage of companies had no reporting procedures in place for lost data or devices, since these could be the entry point for data breaches. Companies should prepare their defences against a data breach by deploying several cyber security layers including device monitoring and management.
Businesses in the UK are facing an uphill battle to protect themselves and their customers. Speak to us on how you can protect your business in the most cost-effective manner.
