This means that the sophistication in data theft and security attacks have also occurred. In the era where the business is evolving every day, it is important for organizations to realize that the information security risks are also increasing. It also suggests that prioritizing and planning are necessary for working in a digital workspace. These reports further suggest that there are enormous challenges in running an organization. More than half, 52% of SBOs and 48% of C-suites did not have the confidence in their current destruction systems for documents in physical and electronic form. It also reflects the poor information destruction systems and the perception of employees towards sensitive data management. The overall picture that these reports suggest is that lack of information security policies, training in staff, and practices have eventually lead to under-confidence in businesses of all sizes.
In a situation where SBOs had a policy in place, it was observed that 41% of SBOs never provided training to the staff on the management of information security documents and policies. According to reports, 46% of SBOs do not have any policy for storing and managing the private data on devices and 50% do not have any policy for looking over the usage of electronic devices.
The C-suites have enacted the policies and the best practices.
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Almost 59% of the SBOs destroyed their electronic materials with private data in their home, and 44% of SBOs do not destroy their hard drives, USB, and any other electronic device that contains private information.īusinesses of all sizes must consider that adopting a secure data protection policy and enacting it with the full priority can highlight the importance of data protection. Thus allowing devices to stockpile in the office. Around 56% of C-suites dispose of their electronics material containing private information in their homes while 46% destroy hard drives, USBs, and other electronic equipment with private data less than once a quarter. The C-suites and SBOs accept that poor management of devices occurs in their organizations. Reports suggest that businesses often fail improper storage and later on the destruction of electronic devices. These devices and tools are vulnerable to security threats if they are poorly managed and carelessly disposed of. It is obvious that most of the above-mentioned devices hold the private and confidential data of the organizations. Laptops, USBs, cloud storage, smartphones, smartwatches, the Internet of Things, big data, and countless more features of the technology are taking major positions in almost every business. Time and resources are saved through technologies. Looking at the gradual shift of the workforce into the digital space, one cannot imagine job accomplishments without getting into a network.
The amount of data is constantly increasing at an enormous rate. Small business owners, more than half, believed that it took them longer, almost a year and more to catch up with the losses. Studies and surveys revealed that a majority of C-suites executives accepted that their organizations recovered after six months from a security breach incident. According to reports, reputational damages, loss in the number of customers, and the loss of time and resources to normalize the situation has significantly affected the businesses. More than the cost of the frauds, the effects of the frauds are severe. The average cost for each stolen record is estimated between $200 and $300. For instance, North America has witnessed an incredible amount of security threats. It’s hard to look over how year after year the number of security threats and frauds has continued to grow. For a fair share of growth in industries, businesses need to understand the risks across their organizations along with the best practices adopting for mitigating information security threats. In the age of continuous change and evolution in business needs, the leaders need to establish a reliable system to assess their own policies and strategies regarding information security practices.
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