Nearly half of the 178 managers who participated in a Pricewater Coopers survey reported they had seen at least 10 incidences of cyber crime and that cyber crime has grown in the past year. Criminals hit the financial sector half the time, the media and communications for 17 percent, and the industry and manufacturing sector around 13 percent.
Whose responsibility is it to develop a data loss protection plan and protect the company’s sensitive data? Is it the CIO, CSO, or even the CEO? What if cyber crime and cyber security are their areas of expertise? While many company heads worry about the company’s reputation and the damage cyber crime may cause to a company’s image. 57 percent of business professionals said they had a media plan in place to report and respond to data Failure incidents.
Public opinion against cyber crime is changing
While customers may have, at one time, been tolerant of cyber crime, customers are less tolerant of unethical behavior. For businesses, reputations aren’t just at stake; CSO and CIO’s must also think about how much cyber crime costs them in terms of market shares. While many businesses fear, an incidence of cyber crime may damage customer’s trust in their brand. Eighty-seven percent of customers reported they were still willing to work with businesses that have had at least one incidence of data loss.
What can businesses do to ensure they minimize the damage from cyber crime and avoid letting negative publicity from cyber crimes ruin their business performance? Business may be able to stem data Failure by taking a proactive approach in security measures that all employees must follow. Because of the new EU data Failure disclosure laws, businesses must take even greater in protecting customer’s data.
Who is to blame for data Losses?
Are companies to blame for not keeping a closer eye on their data and leaving vulnerabilities those hackers can navigate around? While the Water Price Cooper survey found external fraud was committed by customers, it also brought to light the fact that many customers are unsure who is to blame for a number of data Failure instances
Still, businesses should not be excused for not securing their data better. While some customers may be tolerant to a degree, it doesn’t mean businesses should ignore their responsibility to protect customer’s data. Businesses may want to rethink their data loss plans and rebuild customer’s trust by quickly responding to the data Failure. Taking hard drives to a computer expert may help businesses restore customers’ trust. An expert may help business heads quickly recover lost data.
Should businesses host classes to teach employees how to protect customer data? Isn’t it nice to know that both customers and businesses recognize that data loss is the third biggest crime issue in 2014? At Manchester Data Recovery, we can recover your lost photos, files, and music files. We can also fix your Raid system errors. Before you lose your data.