Indian firms under pressure to protect private info
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Indian firms under pressure to protect private info
Mumbai: Following the data security survey conducted amongst 50 CIOs, Chief Risk Officers and IT Managers at the e-Crime India congress in Mumbai, India, Websense revealed that nearly all respondents (98 percent) said they are under pressure to protect against data loss. The survey was conducted to gauge the impact of data loss on organisations, its causes and readiness of organisations to stop security breaches. In the survey, reputation risk and potential loss of customers emerged as two major concerns amongst IT decision makers if a data breach was to occur. 89 percent of respondents said that it may lead to loss of customers while 82 percent said that it will result in loss of reputation. 31 percent of the respondents said that it may have negative impact on the share price of the company. 63 percent of the respondents opined that the ultimate responsibility of data loss should lie with the Board (CEO, CTO, and CFO) of an organisation. 63 percent of respondents believed that most data breaches happen as a result of unintentional or accidental data leaks while 48 percent of respondents felt that companies are not prioritising security due to cost-cutting measures. 68 percent of respondents said that data breaches happen when employees take confidential data with them when leaving the company. And 89 percent of the respondents were of the view that amendments made to the Information Technology Act 2000 IT Act are a step in right direction for tackling data security issue. "The survey findings clearly suggest that data security is among the top issues for IT management and confidentiality of data is critical despite tough economic conditions and increased compliance issues. With changes in the IT Act to protect confidential data, the necessity to reduce the risk of losing customers or damaging corporate reputation, organizations should look to step up their plans in building safeguards against possible data breaches," said Surendra Singh, Regional Director, SAARC & India, Websense.

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