The Ponemon Institute, which does a lot of research in IT and data security, just released its findings on the characteristics of – and reactions to – data breaches at 584 companies. One out of five were financial services companies, the largest industry segment in the survey.
Overall, the IT professionals surveyed say that as a result of their recent incidents, they feel more confident than senior leadership about the ability to keep customer data secure from future breaches. As a broad trend, privacy and data protection became a greater priority for senior leadership following a breach. As a result, IT security budgets for most organizations in this study increased. Lessons learned from the data breach are to limit the amount of personal data collected, limit sharing with third parties and limit the amount of personal data stored.
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