Companies that don’t change their perception about data protection are increasing their odds of suffering a data breach by a whopping 80% and, in the event of a breach, will face fines seven times larger than companies with the best scores, according to a new report.
In the cybersecurity realm, privacy issues are akin to a speeding ticket, according to Osano CEO, Arlo Gilbert.
“Companies that don’t change their perception are facing higher odds of experiencing a data breach and losing the trust they’ve built with their customers,” he said.
His firm recently carried out a study to find the relationship between a company’s privacy practices and their likelihood of experiencing a data breach.
According to the analysis, companies with inadequate data privacy practices are 80% more likely to suffer a breach than those with robust privacy practices. And, if a breach occurs, laggards will face fines under data protection laws seven times larger than companies with the best scores.
Key findings include:
The correlations between the likelihood of experiencing data breaches and poor privacy practices stem from willful ignorance, oversight of privacy best practices that increase risk exposure, and company culture around responsible data stewardship, the research showed.
Filip is an experienced writer with over a decade of practice in the technology realm. He has covered a wide range of topics in such industries as gaming, software, hardware and cyber-security, and has worked in various B2B and B2C marketing roles. Filip currently serves as Information Security Analyst with Bitdefender.View all posts
Don’t miss out on exclusive content and exciting announcements!