Ponemon Institute Study: Is Your Company Ready For A Big Data Breach?
Tags: Data Breach, Small Business, Fraud Prevention
The latest study from the Ponemon Institute, sponsored by Experian® Data Breach Resolution How prepared is your company for a material data breach involving the loss or theft of more than 1,000 records containing sensitive or confidential business information? How would you grade the incident response plans in place that would reduce such negative consequences as the loss of reputation, customer loyalty and regulatory fines? In a new study sponsored by Experian® Data Breach Resolution, Ponemon Institute surveyed a representative sample of privacy and compliance leaders in various-sized organizations in the United States on the following topics: - Expectations that their organizations will experience a material data breach resulting in loss of customer trust, regulatory fines, loss of customer and negative public opinion - Data security practices in place to avoid a material data breach - The existence of a quality data breach preparedness plan
In contrast to the numerous studies that survey IT and IT security practitioners about the readiness and responsiveness of their organizations to respond to a data breach, this research focuses on what executives and staff employees who work primarily in privacy and compliance think about this issue. The findings reveal that although respondents self-report they have had a data breach, many do not have a data breach preparedness plan. Further, many are uncertain if important data security procedures are in place to prevent or mitigate the consequences.