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UK firms falling behind on protecting user data

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The majority of businesses in the UK are complacent when it comes to safeguarding customer data, Kaspersky’s new study claims. The report’s respondents seemed to be are aware of the fact that a data breach, or other forms of compromise, would impact both customer trust and revenue, but they still fail to take the necessary steps to ensure data safety.

Among those necessary steps, according to Kaspersky, are having a cybersecurity policy in place (something 57 per cent of respondents are lacking), or having robust endpoint security (lacking in 59 per cent of cases).

Most IT decision makers are aware of these deficiencies, yet they decided not to do much about it. More than two thirds (69 per cent) worry they’d lose customers in the event of a data breach, while almost three quarters (74 per cent) agree that being cyber-complacent is damaging to their business.

Kaspersky agrees that being complacent could be damaging, saying that the average cost of a data breach nowadays is around $3.9 million, per incident.

“Being complacent with cybersecurity, and customer data, can be incredibly costly. Along with losing sensitive information, a data breach affects business revenues, customer confidence and reputations,” comments David Emm, Principal Security Researcher at Kaspersky.

“There have been many examples in recent years of household brands suffering data breaches, showing that even the most renowned businesses are at risk. For many organisations, the ramifications of a breach could be irreversible. This is why we urge business and organisations of all sizes to adopt robust cybersecurity policies, taking expertise where needed to ensure they have the best preventative measures in place.”