A new study has shown that nearly 70% of employees are worried about data breaches at their company. The investigation was conducted by Ponemon Institute and sponsored by Experian. Their aim was to determine how well companies are adapting to new data technologies. The biggest concern among workers was the issue of adopting new payment methods. For example, when businesses make the move to online payments and mobile payments.
Data security has become a very real concern for modern businesses. As technology has evolved, it has created a new form of crime. It’s a crime that can hide in the shadows and cover its tracks through encryption. Cyber attacks, data breaches and hacks are difficult to regulate, as a general rule. In addition to that, hackers are always growing smarter and more sophisticated. It is important that companies stay one step ahead of new hacking technology.
In the last five years, some of the biggest names in business have suffered embarrassing data breaches. Just last year eBay and Sony were hacked. It compromised the personal information of thousands of customers. If the largest corporations in the world are not immune to this threat, then smaller business certainly aren’t. This concern is clearly present in modern companies today, as this study shows. The study also revealed some interesting suggestions for strengthening data security. It also expressed ideas that would help employees feel more confident about their security.
First of all, it seems that employees are often unsure of how their data security works. A lack of understanding naturally breeds a culture of insecurity. The study showed a split in opinion as to who is to blame for any potential data leaks. When it comes to responsibility for secure payments, 45% said it should be the banking institutions. 40% said credit card companies. There is a definite lack of collaboration or understanding in the data security sector.
As well as concern for data security, half of respondents are also worried about a response to a breach. 47% said that their company’s ability to respond to a data breach would be ‘not effective’ or ‘somewhat effective’. These are concerning numbers at the heart of the corporate world.
It’s not all bad news; the study provided a number of suggestions to increase stability. First of all, they suggested stronger training and teaching. As you can see from the survey results, there is a lack of understanding across the board. Businesses need to do more to build confidence in its employees. There needs to be full training when new payments methods are brought in. It would reduce the feeling of unease. With understanding comes confidence.
Secondly, the study suggested a regular data security audit. Companies should take steps to keep their data centre services up to date and safe. They should renew their encryption and change passwords regularly. It’s all about staying one step ahead of any potential data breaches.
The ramifications of such an infiltration could be devastating to small businesses. These figures show a growing concern and misunderstanding of data security. Let’s hope companies take heed and follow the advice.
