Security Breaches - Around 80 per cent affected!
Two new surveys on security breaches have just been published - and they make difficult reading particularly given the increasing tide of security breach legislation in the US and the activities of data protection officials in Europe.
The first published by Deloitte, found that 78 per cent of the world's top 100 financial services organizations surveyed admitted to a security breach from outside the organization. In a similar survey in 2005 only 26 per cent admitted to having suffered a breach. The survey also found that nearly half of the organizations experienced at least one internal breach, up from 35 per cent in 2005. In response, 95 per cent of enterprises said their information security budgets have increased in the past year.
In the second survey by CA of 642 large North American organizations more than 84 per cent had experienced a security incident over the past 12 months.
This survey also showed that the number of breaches continues to rise. As a result:
- 54 per cent of organizations reported lost workforce productivity
- 25 per cent reported public embarrassment, loss of trust/confidence and damage to reputation; and 20 per cent reported losses in revenue, customers or other tangible assets.
The CA survey also asked about security spending with only 1 per cent of respondents saying it was too high!
Security breach legislation in the US and Europe features as the headline article in last month's ACC Docket in an article co-authored by lawyers from Eversheds. You can download the full article here:
There is more information on the surveys here:
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