Data breach preparedness plans not being updated or exercised: survey

Published: Thursday, 06 October 2016 07:49

While most organizations have a data breach preparedness plan in place, data indicates that executives are not updating or practicing the plan regularly and lack confidence in its effectiveness. These findings are according to the ‘Is Your Company Ready for a Big Data Breach?’ study, conducted by the Ponemon Institute and sponsored by Experian Data Breach Resolution.

The fourth annual study shows that data breach preparedness certainly is on the organizational radar, and having a response plan in place is par for the course. The number of organizations with a plan increased from 61 percent in 2013 to 86 percent in 2016. However, despite this, 38 percent of organizations surveyed have no set time period for reviewing and updating it, and 29 percent have not reviewed or updated their plan since it was put in place. Furthermore, only 27 percent of organizations surveyed are confident in their ability to minimize the financial and reputational consequences of a breach, and 31 percent lack confidence in dealing with an international incident.

"When it comes to managing a data breach, having a response plan is simply not the same as being prepared," said Michael Bruemmer, vice president at Experian Data Breach Resolution. "Unfortunately many companies are simply checking the box on this security tactic. Developing a plan is the first step, but preparedness must be considered an ongoing process, with regular reviews of the plan and practice drills."

Additional key findings include:

Download the full survey report.