BUSINESS SLOW TO ACT ON DATA AND IT SAFETY
Companies
around the world are only just starting to wake up to the need to invest in privacy and data protection and few are managing third-party risk, a study published on Tuesday, 14th November has found.
The Ernst &Young Global Information Security survey of 1,200 public and private sector organisations in 48 countries, found that, for the first time in the study's nine-year history, organisations have cited privacy and data protection as a significant issue.
More than three-quarters of respondents said they would continue to invest most of their resources into formalising procedures for the capturing, storage and sharing of company, client and customer data.
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It also found that new technologies in business, such as mobile computing, wireless networks and removable media, such as memory sticks, pose the most significant information security risk in the future.
“Businesses are only just waking up to the dangers of having little or no privacy policy in place for managing sensitive data,” said Richard Brown, head of technology and security risk services at Ernst & Young. “The tipping point appears to be growing consumer concern and awareness
