Many Companies Lack Data Breach Awareness

Organizations would prefer to keep the negative consequences of a data breach out of sight and out of mind, but that doesn’t mean they should do the same with their detection strategies. According to a recent report by data security expert Varonis, over 40 percent of companies don’t have a system in place that could detect data breaches and immediately make the organization aware. Becoming aware of a data breach and correcting it as fast as possible is imperative to mitigating any negative effects resulting from leaked data, yet only 6 percent of organizations have an automated mechanism to detect such incidents.

The survey also found that 67 percent of breaches are not discovered until months after their initial occurrence, during which time hackers could have leveraged client and consumer data for a variety of malicious activities, like identity theft and fraud, as well as used a company’s information to further infiltrate its networks and computers. Cybercriminals are patient, and many hacking efforts are designed to make an infinitesimal initial entrance, before expanding and becoming more invasive over time. Without anti spyware and other tools that can identify and target malicious forays into networks and computers, organizations are placing themselves at a serious risk.

“The findings were particularly alarming in light of the fact that, since there’s no perfect system of safeguards, a breach by hackers, other unauthorized users and authorized users that abuse their access is inevitable,” stated Varonis VP David Gibson, according to eWeek.

Can You Afford the Negative Publicity?
Companies that lack data breach awareness can cause a bigger mess than can be absolved with a computer tune up. Even though a firm may have been victimized by a well-orchestrated and sophisticated cyberattack, the firm – not the hacker – will bear the brunt of negative reactions, as consumers could perceive them to be lax or cavalier in their security policies. The survey also found that 70 percent of companies were first informed of data breaches by customers and outside parties, not their own IT personnel or employees. Finding out about a data breach from a third party can lead to embarrassment, a decreased industry reputation and lost sales potential.

It’s imperative for companies to have strong security measures in place to prevent data breaches and better monitor computer systems and networks.

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Many Companies Lack Data Breach Awareness