Intelligent CIO Europe Issue 59 | Page 70

INTELLIGENT BRANDS // Enterprise Security

Surge in dark data a growing danger for organisations

Dark data represents the biggest potential cybersecurity exposure for businesses , according to a cybersecurity edition of the DealMaker Meter report , Understanding Risk : The Dark Side of Data .

Dark data is defined as data that a company has collected but no longer needs – ranging from outdated customer information to old employee records – dark data is often forgotten and unprotected by corporations , creating substantial liabilities as well as tempting targets for cybercriminals .
The Cybersecurity Insights Report released by DFIN , a leading provider of financial software solutions , has found that over half of business decision-makers report that cybersecurity incidents in their businesses have increased over the past 12 months .
The study of Finance , HR , Legal and IT professionals in the UK and the US found that cyberthreats are on the increase : phishing ( 52 %), data breaches ( 50 %), cybersecurity regulations ( 45 %) and data fraud ( 42 %).
More support for cybersecurity needed from UK boards
The report also found that support for proactive cybersecurity measures from board members in the UK could be lacking . Only a third ( 33 %) of business leaders in the UK strongly agreed that their board members are aware of and supportive of information security and data protection initiatives , in contrast to 58 % strongly agreeing there is board-level support for cybersecurity initiatives in the US .
Decision-makers are less confident in their reactive data protection performance than their proactive cybersecurity measures .
Businesses feel that their cybersecurity performance is weaker when it comes to reactive data protection and cybersecurity events . A quarter ( 24 %) of decision-makers felt that their businesses ’ retroactive data protection and data incident triage was average or weak .
In contrast , decision-makers displayed higher confidence in their companies ’ ability to proactively protect data . Over 70 % of executives report that proactive data protection and data protection strategy and planning ( 74 %) in their businesses have received increased focus over the past 12 months .
Technology tools are a priority for business leaders
Over half of decision-makers ( 59 %) reported that their businesses ’ staff headcount with responsibility for data protection and privacy had increased over the past 12 months . But when looking to the future , over four in five business leaders ( 83 %) would choose to invest in new technology tools to support cybersecurity rather than additional staffing ( 17 %).
By placing documents containing information for deals , HR and corporate data into a secure virtual data room such as Venue , some of these issues would be avoided and keep data protected . This type of corporate repository is especially invaluable in fighting cybersecurity attacks . p
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