• TREND MICRO
  • ABOUT
Search:
  • Latest Posts
  • Categories
    • Android
    • AWS
    • Azure
    • Cloud
    • Compliance
    • Critical Infrastructure
    • Cybercrime
    • Encryption
    • Financial Services
    • Government
    • Hacks
    • Healthcare
    • Internet of Everything
    • Malware
    • Microsoft
    • Mobile Security
    • Network
    • Privacy
    • Ransomware
    • Security
    • Social Media
    • Small Business
    • Targeted Attacks
    • Trend Spotlight
    • Virtualization
    • Vulnerabilities
    • Web Security
    • Zero Day Initiative
    • Industry News
  • Our Experts
    • Ed Cabrera
    • Rik Ferguson
    • Greg Young
    • Mark Nunnikhoven
    • Jon Clay
    • William “Bill” Malik
  • Research
Home   »   Industry News   »   Compliance & Regulations   »   Business continuity falling flat over data security

Business continuity falling flat over data security

  • Posted on:August 28, 2012
  • Posted in:Compliance & Regulations, Encryption
  • Posted by:
    Trend Micro
0

It seems that more companies are taking the stance in terms of content security that if they can't see it, the threat isn't real. A pair of recent studies shows that more small business owners claim they are ready disaster, yet some are not taking adequate steps to protect their data.

The Hartford Small Business Data Protection Survey reported 85 percent of SMBs don't feel their data is at risk and therefore aren't implementing good data security measures. In comparison, a Traveler's Insurance poll of small business owners found about half were at least somewhat prepared with a business continuity plan and an effective insurance policy in the event of a hurricane.

There's a broad market for disaster recovery and business continuity solutions. Tape data backup, for example, is one of the simplest and most reasonably priced means of removing information from a daily-access system and placing it in secure archival storage. Security software also allows businesses to detect threats and alert if an attack has been attempted or if a system has been compromised. There are cloud systems, virtualization, deduplication and disk backup solutions for companies that want to diversify data management.

In short, there's no reason why business owners shouldn't avail their client data of proper safety precautions, but a resounding majority seem to feel it's unnecessary despite the ongoing inundation of threats facing companies of all sizes.

Lack of trust

The disconnect in terms of data protection may come from misinterpreting responsibility regarding loss of sensitive information. The Hartford study found that nearly 80 percent of owners were careful to remove permission access from their own employees but only around 45 percent used firewalls, updated software and performed troubleshooting on network connections to block external attacks.

If companies aren't taking these steps to safeguard business data from the variety of threats, both internal and external, the likelihood of a breach can increase. According to a report conducted by Verizon, the Dutch National High Tech Crime Unit and the U.S. Secret Service, more than 90 percent of data breaches are the work of external attackers, showing a decline in internal involvement when comparing year-over-year values. Business continuity could be threatened by this lack of internal data protection from employee neglect or malicious access, resulting in theft and loss.

Security missteps

The worst part is that owners recognize the damage a security breach or data loss can have on business. The Hartford study found roughly two-thirds of respondents recognized data protection failures hurt the company's image and could result in loss of business. They even admitted to looking down on companies that had been victimized and struggled to recover, the Data Protection Survey reported. When companies lose this kind of respect from clients and can't recover essential corporate data, business continuity is threatened.

Since these owners aren't taking even minimal precautions, the Verizon study shows they fall into the biggest group of commonalities in all data breach incidents last year. More than 90 percent of successful data security breaches were simplistic and 96 percent could easily have been averted if basic protections were in place. Given the weight of data protection in upholding business continuity, it would seem counterintuitive for companies not to invest in backup solutions.

"Most of the business owners surveyed believe they are not at risk," said the Hartford's Lynn LaGram regarding the Data Protection Survey. "In fact smaller businesses are increasingly being targeted … It is important for business owners to take proactive measures to protect data and minimize the likelihood of a breach."

Lack of confidence

Hartford's data showed almost half of small businesses just didn't feel they could meet compliance and data security requirements if they were to try and implement them. Even though averting disaster could be easy for these organizations, a lack of trust in their employees as well as their own capabilities may cost them and their clients in the end.

Related posts:

  1. Data breaches affecting all levels of business
  2. Three quarters of businesses suffered data breaches in 2010, study finds
  3. Executive urges UK companies to adopt data recovery solutions
  4. Report: US cybersecurity intelligence falling short

Security Intelligence Blog

  • Our New Blog
  • How Unsecure gRPC Implementations Can Compromise APIs, Applications
  • XCSSET Mac Malware: Infects Xcode Projects, Performs UXSS Attack on Safari, Other Browsers, Leverages Zero-day Exploits

Featured Authors

Ed Cabrera (Chief Cybersecurity Officer)
Ed Cabrera (Chief Cybersecurity Officer)
  • Ransomware is Still a Blight on Business
Greg Young (Vice President for Cybersecurity)
Greg Young (Vice President for Cybersecurity)
  • Not Just Good Security Products, But a Good Partner
Jon Clay (Global Threat Communications)
Jon Clay (Global Threat Communications)
  • This Week in Security News: Ransomware Gang is Raking in Tens of Millions of Dollars and Microsoft Patch Tuesday Update Fixes 17 Critical Bugs
Mark Nunnikhoven (Vice President, Cloud Research)
Mark Nunnikhoven (Vice President, Cloud Research)
  • Twitter Hacked in Bitcoin Scam
Rik Ferguson (VP, Security Research)
Rik Ferguson (VP, Security Research)
  • The Sky Has Already Fallen (you just haven’t seen the alert yet)
William
William "Bill" Malik (CISA VP Infrastructure Strategies)
  • Black Hat Trip Report – Trend Micro

Follow Us

Trend Micro In The News

  • Trend Micro Goes Global to Find Entrepreneurs Set to Unlock the Smart Connected World
  • Winners of Trend Micro Global Capture the Flag Demonstrate Excellence in Cybersecurity
  • Companies Leveraging AWS Well-Architected Reviews Now Benefit from Security Innovations from Trend Micro
  • Trend Micro Announces World's First Cloud-Native File Storage Security
  • Digital Transformation is Growing but May Be Insecure for Many
  • Home and Home Office
  • |
  • For Business
  • |
  • Security Intelligence
  • |
  • About Trend Micro
  • Asia Pacific Region (APAC): Australia / New Zealand, 中国, 日本, 대한민국, 台灣
  • Latin America Region (LAR): Brasil, México
  • North America Region (NABU): United States, Canada
  • Europe, Middle East, & Africa Region (EMEA): France, Deutschland / Österreich / Schweiz, Italia, Россия, España, United Kingdom / Ireland
  • Privacy Statement
  • Legal Policies
  • Copyright © 2017 Trend Micro Incorporated. All rights reserved.