The sheer enormity of the modern security threat landscape is demonstrated by the fact that your enterprise is more likely to suffer a major data breach than you are to catch flu this coming winter.
Research from the Ponemon Institute recently found that there is a 27.9% chance of a business suffering a data loss of more than 10,000 records, compared to the mere 5-20% chance of getting the flu virus, according to WebMD.
This growing threat, combined with the cost of suffering a data loss increasing exponentially and the added complexity of new regulatory requirements, makes data security a major priority for businesses of all shape and size. Indeed, the Ponemon Institute this month revealed that the average cost of a data breach is now $3.86 million, an increase of 6.4% on 12 months ago.
Despite this, many businesses remain incapable or unaware of their requirements to safeguard data. More data records were leaked or stolen in the first half of 2017 than in the entirety of the previous year – with 10.4 million records swiped every day and 1.9 billion records stolen in total over the six-month period, which represents a 38.6% increase on the whole of 2016.
For example, earlier this month social app Timehop revealed a network intrusion caused by its cloud environment's credentials being compromised led to a breach of 21 million users' names, email addresses and phone numbers. While last month, marketing firm Exactis reportedly around 230 million Americans' personal information.
Businesses need to understand where they store documents and personal data and ensure they have swift access to it when required. However, all too often out-of-sight documents are left unprotected, leaving them vulnerable to insider threats, external hackers and non-compliance penalties.
In addition to getting their data in order, enterprises also need to improve their responses to potential data loss events. The Ponemon research finds that it currently takes organizations an average of 196 days to detect a breach, which is well beyond the one-month response limit required under increasingly strict data protection regulations.
This can now be addressed through Data Loss Prevention, which helps enterprises to identify sensitive or confidential data and prevent it from being accessed by unauthorized users or maliciously shared outside the organization.
A key tool in the DLP armoury is Artificial Intelligence, which enables enterprises to identify, manage and secure unstructured data at scale easily. Our trademarked revolutionary document control solution automatically discovers, accurately identifies and efficiently organizes huge volumes of unprotected data that could previously have been at the mercy of malicious actors.
by Alan Weintraub January 2019
by Mike Quinn December 2018