Company Memo: We Can't Protect Consumer Data

By Dennis McCafferty  |  Posted 10-12-2015 Email

The majority of technology, risk and business professionals revealed customers should not feel confident that their personal information is fully secured, according to a recent survey from ISACA. The report, titled "Keeping a Lock on Privacy: How Enterprises Are Managing Their Privacy Function," shows how few survey respondents feel "very" confident in their organization's ability to ensure the privacy of its sensitive data. As a result, they fear their corporate reputation will take a major hit, with the potential for regulatory consequences. To avoid this, companies are turning to privacy risk assessments and audits, while investing in awareness training sessions for staff. "Major privacy breaches of customer data records are becoming common news headlines, shattering the trust of customers who expected the affected enterprises to protect their personal information (PI)," according to the report. "Although these enterprises believed that they had adequate measures in place to secure PI, someone—a hacker who seeks financial gain, a hacktivist who wishes to make a political point, a malicious insider who desires to get revenge for a real or imagined wrong, or a well-meaning but untrained employee who simply makes a mistake—found a way to penetrate their defenses." ISACA is a global non-profit which provides information resources and credentialing/career development opportunities for professionals who are interested in leading, adapting and assuring trust in the digital world. More than 780 global executives and professionals—including compliance/risk officers, security managers and IT audit directors—took part in the research.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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