Business data protection is simply not up-to-scratch. As organisations plough billions into digital technologies, cybersecurity is getting left behind.
Recent figures suggested that two-thirds of businesses are currently embroiled in what are known as “digital transformation” projects, with spending on software increasing by 50pc. But what’s missing is the respect for cybersecurity and the understanding of the threats businesses are facing, and as a result, countless organisations are falling short.
Unless business data protection is treated as the priority it needs to be, breaches and hacks may never stop.
Business data protection spending left behind
While spending on new software is skyrocketing, business data protection spending is getting left way behind. The growth of the digital era has been fuelled by the desire for bigger profits and cost-cutting, but the lack of respect shown for cybersecurity is leaving businesses – and by extension, their customers – incredibly vulnerable.
It’s new software, but not new security.
Do businesses understand the risks?
A major point about business data protection being left behind comes down to understanding the risks. We see time and time again businesses getting hacked and breaching data protection rules, making it clear to us that the understanding of risk is minimal at best.
You’d think that the constant news about data breaches and cyber-hacks would be enough of a motivator for businesses to shape-up their cybersecurity, and the new GDPR fines that can run into the millions is a clear deterrent. Despite this, the lack of understanding and respect for the risks clearly remain.
Equifax a good example of a business data protection failure
Last year’s Equifax data breach was a classic example of a business data protection failure. One of the biggest credit-referencing agencies in the world simply failed to update a security patch to cover a known vulnerably, and their systems failed to pick up the ongoing problem.
This simple and basic error has led to a monumental data breach affecting some 700,000 UK victims, and millions of others around the world.
Business data protection simply must be a priority, and a change in thinking and attitude must be adopted by organisations worldwide.
IMPORTANT: advice on this page is intended to be up-to-date for the 'first published date'.
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