Majority Enterprises Under Pressure To Protect Confidential Data: Survey

Websense has revealed the findings of its data security survey conducted amongst 50 CIOs, Chief Risk Officers and IT Managers at the e-Crime India Congress in Mumbai, India. The survey was conducted to gauge the impact of data loss on organisations, its causes and readiness of organisations to stop security breaches.

Key findings of the survey are as follows:

Organisations under pressure to protect data

Nearly all respondents (98 percent) said they are under pressure to protect against data loss.

Reputation risk and customer loss major concerns

Reputation risk and potential loss of customers emerged as two major concerns amongst IT decision makers if a data breach was to occur. 89 percent of respondents said that it may lead to loss of customers while 82 percent said that it will result in loss of reputation. Thirty-one percent of the respondents said that it may have negative impact on the share price of the company.

More from Biztech

Future Group - Reliance Retail Deal approved by CCI RBI ban on cryptocurrencies takes effect; prohibition could force investors to tap the black market

Owning up responsibility for data breach

Sixty-three percent of the respondents opined that the ultimate responsibility of data loss should lie with the Board (CEO, CTO, and CFO) of an organisation.

Accidental Data Leakage

Sixty-three percent of respondents believed that most data breaches happen as a result of unintentional or accidental data leaks while 48 percent of respondents felt that companies are not prioritising security due to cost-cutting measures.

Intentional Data Leakage

Sixty-eight percent of respondents said that data breaches happen when employees take confidential data with them when leaving the company.

The Information Technology Amendment Act, 2008 (IT Act 2008)

Eighty-nine percent of the respondents were of the view that amendments made to the Information Technology Act, 2000, are a step in right direction for tackling data security issue.

“The survey findings clearly suggest that data security is among the top issues for IT management and confidentiality of data is critical despite tough economic conditions and increased compliance issues,” said Surendra Singh, Regional Director, SAARC & India, Websense. “With changes in the IT Act to protect confidential data and the necessity to reduce the risk of losing customers or damaging corporate reputation, organisations should look to step up their plans in building safeguards against possible data breaches.”