Second, the majority of organisations deploy standalone encryption solutions, which can be troublesome to decrypt by those outside the organisation, such as partners, and this perceived hassle can put people off bothering to encrypt at all.
Ultimately, responsibility for the security of sensitive information has to rest at the top. It may be difficult to convince the board of the importance of data security but the financial and reputational impact of losing data, although possibly unquantifiable, can be catastrophic.
How would your business cope if your closest competitor suddenly had a copy of the prototype for your hottest product?
Plus of course, all the indirect costs, such as legal fees, compensation etc. And this doesn’t take into consideration the damage to a company’s reputation and consumer confidence following a high-profile breach, which could cost millions and be unrectifiable.
While it is undoubtedly crucial that organisations have procedures and technologies in place to prevent a breach or protect the data should one happen, underlying behaviours and attitudes also need to change.
Consumers place huge amounts of faith in organisations to keep their information safe. These organisations must, in turn, demonstrate they take this responsibility seriously and are doing their utmost to keep personal data secure.
Is it therefore time for the Government to pass a full disclosure bill whereby all data breaches have to be made public and the appropriate disciplinary proceedings taken?
Matt Fisher is the VP Marketing of Centennial Software which specialises in Network Inventory & IT Audit Software Asset Management Endpoint & USB Security
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