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Data powers an organisation

23 October 2014

Recently, Protiviti published their 2014 IT and Security Privacy survey, entitled “Bridging the Data Security Chasm”.

Comparing data to the role of water in a hydroelectric plant the report says:

“Data powers an organisation, pumping fuel – through information, knowledge and insights – to virtually every company function.  It therefore must be managed – and managed well”.

Confirming the findings of other surveys over the past year, the Protiviti survey indicates five key findings, namely:

  1. board engagement is a key differentiator in the strength of IT security profiles
  2. there remains a surprising lack of key core information security policies – one in three companies do not have a written information security policy and one in four do not have acceptable use or record retention/destruction policies
  3. organisations lack high confidence in their ability to prevent a cyber-attack or data breach
  4. not all data is equal – a percentage of organisations that retain all data and records without a defined destruction date has more than doubled – not necessarily a positive development, and
  5. many are still unprepared for a crisis – there is a significant year over year jump in the number of organisations without a formal and documented crisis response plan.

We ourselves have seen a dramatic increase in the number of businesses consulting us on data and information “incidents” and in so many cases, the absence of a rapid response task force and policy tends to exacerbate the crisis.

This article was written by Robert Bond.

For more information contact Robert on +44 (0)20 7427 6660 or robert.bond@crsblaw.com