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Experian Data Breach Resolution and Ponemon Institute Find Organizations Are Not Ready for Global Security Risks and RegulationsCOSTA MESA, Calif., June 27, 2017 /PRNewswire/ -- Experian Data Breach Resolution and Ponemon Institute today released an industry study revealing that while companies generally are aware of and intimidated by global privacy and data security regulations, they fail to properly understand and address necessary organizational changes to comply. The study, Data Protection Risks & Regulations in the Global Economy, asked more than 550 IT security and compliance professionals, involved with their companies' global privacy and data security regulations, to weigh in on the top global security risks, as well as how prepared they feel their companies are to respond to a global data breach. The study found that more than half (51 percent) of companies surveyed had experienced a global data breach, with nearly 56 percent experiencing more than one breach in the past five years. Yet, despite these major security intrusions, 32 percent of respondents noted that their respective companies still don't have a response plan in place. Unfortunately, only 30 percent of respondents said their respective C-suite executives are fully aware of the state of their companies' compliance with global regulations. Moreover, only 38 percent of respondents agreed senior leadership views compliance with global privacy and data protection regulations as a top priority. "Despite increasing reports of the damage caused by global data breaches, the study emphasizes that the increasing risk of, as well as the experience of going through, a global data breach isn't enough to lead CIOs and CSOs to prioritize compliance measures in line with what is expected in the GDPR," said Michael Bruemmer, vice president, Experian Data Breach Resolution. "More emphasis is required from companies, especially those with a multinational footprint, to get ahead of impending global regulations and risks. They can start by conducting risk assessments and investing in new technologies, such as encryption, as well as considering appointing a data protection officer to oversee compliance." Additional key findings from the study: The GDPR notification requirements will be difficult to implement
Companies fail to prioritize global regulations and remain skeptical about benefits
To access the full complimentary report, Data Protection Risks & Regulations in the Global Economy, visit http://www.experian.com/data-breach/2017-data-protection-risks-regulations.html. Additional data breach resources, including webinars, white papers and videos, can be found at http://www.experian.com/databreach. Read the Experian Data Breach Resolution blog at http://www.experian.com/dbblog. About Experian Data Breach Resolution About Experian We have more than 16,000 people operating across 37 countries and every day we're investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index. Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group. Experian and the Experian marks used herein are trademarks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners. Contacts: Mark Pepping
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/experian-data-breach-resolution-and-ponemon-institute-find-organizations-are-not-ready-for-global-security-risks-and-regulations-300479869.html SOURCE Experian |