Businesses Collect More Data Than They Can Handle, Reveals Gemalto
With pressure to ensure consumer data is protected mounting, Gemalto, the world leader in digital security, today released the results of a global study which reveals that two in three companies (65%) are unable to analyze all the data they collect and only half (54%) of companies know where all of their sensitive data is stored. Compounding this uncertainty, more than two thirds of organizations (68%) admit they don’t carry out all the procedures in line with data protection laws such as GDPR.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180709005053/en/
Customer data protection. Credit: Gemalto
These are just some of the findings of the fifth-annual Data Security Confidence Index, which surveyed 1,050 IT decision makers and 10,500 consumers worldwide. The research found that business’ ability to analyze the data they collect varies worldwide with India (55%) and Australia (47%) best at using the data they collect. In fact, despite nine in 10 (89%) global organizations agreeing that analyzing data effectively gives them a competitive edge, only one in five Benelux (20%) and British (19%) companies are able to do so.
“If businesses can’t analyze all of the data they collect, they can’t understand the value of it – and that means they won’t know how to apply the appropriate security controls to that data,” says Jason Hart, vice president and CTO for Data Protection at Gemalto. “Whether it’s selling it on the dark web, manipulating it for financial gain or to damage reputations, unsecured data is a goldmine for hackers. You only need to look at the recent hacks on the World Anti-Doping Agency and International Luge Federation to see the damage that can be done. What’s more, data manipulation can take years to discover, and with data informing everything from business strategy to sales and product development, its value and integrity cannot be underestimated.”
Confidence in securing the breach is low
When it comes to how data is being secured, the study found that almost half (48%) of IT professionals say perimeter security is effective at keeping unauthorized users out of their networks. This is despite the majority of IT professionals (68%) believing unauthorized users can access their corporate networks, with Australian companies being the most likely (84%) and the UK the least (46%). However, once the hackers are inside, less than half of companies (43%) are extremely confident that their data would be secure. UK businesses are the most concerned with just 24% prepared to say they’re extremely confident, with Australia the highest (65%).
Even though there is still faith in how they’re securing their networks, one third (27%) of companies reported that their perimeter security had been breached in the past 12 months. Of those that had suffered a breach at some point, only 10% of that compromised data was protected by encryption, leaving the rest exposed.
Consumers say compliance is critical
According to the study, a growing awareness of data breaches and communications around GDPR have led to the majority (90%) of consumers believing that it is important for organizations to comply with data regulations. In fact, over half (54%) are now aware what encryption is, showing an understanding of how their data should be protected.
Hart continues, “It’s time organizations got their houses in order; starting with who oversees their data security. A central figure such as a Data Protection Officer – essential in some circumstances under GDPR – must be appointed to the board to lead data security from the top down. Next is having more insight and analysis on the data collected to ensure that it is both correctly protected and enabling more informed business decision making. Finally, a mindset change. Organizations must realize that it’s no longer a case of if, but when a breach occurs, and protect their most valuable asset – data – through encryption, two-factor authentication and key management, rather than solely focusing on perimeter protection.”
- Visit the Data Security Confidence Index website for the full report, infographic and regional data
- For more information on Gemalto’s Data Security solutions, click here.
Gemalto (Euronext NL0000400653 GTO) is the global leader in digital security, with 2017 annual revenues of €3 billion and customers in over 180 countries. We bring trust to an increasingly connected world.
From secure software to biometrics and encryption, our technologies and services enable businesses and governments to authenticate identities and protect data so they stay safe and enable services in personal devices, connected objects, the cloud and in between.
Gemalto’s solutions are at the heart of modern life, from payment to enterprise security and the internet of things. We authenticate people, transactions and objects, encrypt data and create value for software – enabling our clients to deliver secure digital services for billions of individuals and things.
Our 15,000 employees operate out of 114 offices, 40 personalization and data centers, and 35 research and software development centers located in 47 countries.
Tauri Cox, +1 512 257 3916
Sophie Dombres, +33 4 42 36 57 38
Europe Middle East & Africa
Jaslin Huang, +65 6317 3005
Enriqueta Sedano, +52 5521221422
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
US FDA Approves ONTRUZANT® (trastuzumab-dttb), Samsung Bioepis’ First Oncology Medicine in the United States20.1.2019 23:38 | Pressemelding
Samsung Bioepis Co., Ltd. today announced that the U.S. Food and Drug Administration (FDA) has approved ONTRUZANT® (trastuzumab-dttb), a biosimilar referencing HERCEPTIN® 1 (trastuzumab), across all eligible indications, namely adjuvant treatment of HER2-overexpressing breast cancer, metastatic breast cancer and metastatic gastric cancer or gastroesophageal junction adenocarcinoma in patients who have not received prior treatment for metastatic disease. Please see Boxed Warnings and Important Safety Information for ONTRUZANT® below. ONTRUZANT® is Samsung Bioepis’ first oncology biosimilar to receive FDA approval, and will be marketed and distributed in the United States (US) by Merck, which is known as MSD outside of the US and Canada. “For many cancer patients in the US, battling cancer has not only been a health issue, but a considerable financial burden brought on by cancer treatment. Biosimilars are intended to be lower cost, high-quality treatment options that have the potential t
More4Apps to Join the Cloud20.1.2019 22:53 | Pressemelding
More4Apps, the NZ-based software integration specialist known for its Excel based Oracle EBS integration tools, has confirmed it will be building product for Cloud ERP. “We're overwhelmed by the number of customers asking for our solutions to be migrated to the new ERP system, and that’s driven our strategic commitment to developing Cloud-based data entry tools,” said Bruce Doig, co-founder and Head of Innovation at More4Apps. “Already we have a large team working closely with a well known US fast food restaurant chain to deliver several loaders integrated with Oracle ERP Cloud.” As a Gold Partner with Oracle, More4Apps is well positioned to develop a range of integration tools for the new platform, with an intimate knowledge of the existing EBS and a close working relationship with a customer with whom they are collaborating to develop data loaders for the new SaaS platform. And whilst the capabilities of Cloud ERP are yet to be fully proven, More4Apps are confident there will be a pl
Warm welcome for ABB Formula E in Davos19.1.2019 09:00 | Pressemelding
Just a few days before the start of the World Economic Forum 2019, Davos is celebrating a world premiere: The latest ABB FIA Formula E racing car - dubbed Gen2 – was transported on a train from the iconic Swiss Rhaetian Railway to Europe’s highest city, where it will be an exciting eyecatcher during the coming week at the Davos Platz railway station. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190119005003/en/ ABB FIA Formula E racing car in Davos (Photo: Business Wire) From this Saturday until next Sunday, January 27, the Gen2 will be on display in a special glass case. Interested passersby can learn about the ABB FIA Formula E racing series as well as about the activities of ABB in e-mobility via an information system. With over 8,500 fast charging stations installed in 70 countries around the world, ABB is the global market leader for charging infrastructures. To watch the video, click here ABB (ABBN: SIX Swiss Ex) is
PMI’s Mission Winnow Goes Full Throttle with Ducati Corse for 2019 MotoGP™18.1.2019 17:00 | Pressemelding
Philip Morris International Inc. (PMI) (NYSE: PM) is pleased to announce that its Mission Winnow initiative is expanding in 2019 to include the Ducati Corse racing team. Mission Winnow is a PMI-led campaign to raise global awareness of our passion and determination to constantly improve and evolve, as well as highlight the power of science, technology and innovation to build a better future. PMI has partnered with Ducati Corse since 2002 and has extended the relationship for another three years until the end of 2021. As of the start of this year’s MotoGP season, the team will be officially known as Mission Winnow Ducati. Mission Winnow was first launched in October 2018 with Scuderia Ferrari Mission Winnow, which – like Ducati Corse – has a passion for innovation and a relentless drive to improve in the team’s pursuit of victory. Ducati Corse is one of the most inspiring and resilient teams in MotoGP, with a 70-year history in racing. Ducati fans form a passionate community who appreci
IFF’s Frutarom Division Completes Acquisition of 60% of Thailand-based Mighty18.1.2019 12:50 | Pressemelding
Regulatory News: International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris:IFF) (TASE:IFF), announced that its Frutarom Division has completed the acquisition of 60% of the share capital of The Mighty CO. LTD. (“Mighty”), a leading savory solutions provider in Thailand, thus continuing its growth strategy in Southeast Asia. Amos Anatot, President of IFF's Frutarom Division, said, “The completion of this deal with Mighty underscores that the Frutarom division will continue on its growth strategy and pursue attractive companies that create new opportunities or build on current capabilities.” Mr. Anatot continued, “And in this case, we are helping to grow our capabilities in savory solutions – already an area of strength for legacy Frutarom, now IFF." Mighty, founded in 1989, develops, produces and markets reaction flavors, with particular expertise in savory solutions. The company’s portfolio includes flavors, seasoning blends, marinades, and specialty functional raw materials f
LTI Q3 FY19: Constant currency revenue growth up 6.1% QoQ and 20.6% YoY; Net Profit jumps 32.8% YoY18.1.2019 12:02 | Pressemelding
Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q3 FY19 results today. In US Dollars: Revenue at USD 346.9 million; growth of 5.6% QoQ and 18.2% YoY Constant Currency Revenue growth of 6.1% QoQ and 20.6% YoY In Indian Rupees: Revenue at Rs 24,729 million; growth of 6.1% QoQ and 31.3% YoY Net Income at Rs 3,755 million; growth of (6.2%) QoQ and 32.8% YoY “We are pleased to deliver another strong quarter with 5.6% QoQ growth in USD revenues. Our broad-based revenue growth, superior margin delivery and steady cash generation in Q3 is a testimony of our focused execution and client centricity. We are also thrilled to welcome Ruletronics to LTI family. Ruletronics enables businesses to transform and evolve digitally by providing innovative BPM and CRM solutions leveraging Pega Platform.” - Sanjay Jalona, Chief Executive Officer & Managing Director, LTI Recent Deal Wins Nets, the leading payments company in th