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According to a Websense survey, reputation risk and potential loss of customers emerged as two major concerns amongst IT decision-makers if a data breach was to occur
Security services provider Websense Inc said that nearly all respondents (about 98%) from its data security survey conducted in India have said that they are under pressure to ensure protection against data loss.
"The survey findings clearly suggest that data security is among the top issues for information technology (IT) management and confidentiality of data is critical despite tough economic conditions and increased compliance issues," said Surendra Singh, regional director, SAARC and India, Websense.
The survey was conducted amongst 50 chief information officers, chief risk officers and IT managers at the ‘e-Crime India Congress’ at Mumbai, to gauge the impact of data loss on organisations, its causes and readiness of organisations to stop security breaches.
According to 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. Around 89% of respondents said that it may lead to loss of customers while 82% said that it will result in loss of reputation while 31% of the respondents said that it may have negative impact on the share price of the company.
Responding to accidental data leakage, 63% of respondents believed that most data breaches happen as a result of unintentional or accidental data leaks while 48% of respondents felt that companies are not prioritising security due to cost-cutting measures. About 68% of respondents said that data breaches happen when employees take confidential data with them when leaving the company.
The survey said around 89% of respondents were of the view that the amendments made to the Information Technology Act 2000 (the IT Act) were a step in the right direction for tackling data security issues.
"With the changes in the IT Act to protect confidential data and the necessity to reduce the risk of losing customers or damaging corporate reputation, organisations should look to step up their plans in building safeguards against possible data breaches," said Mr Singh.