It was announced today that data security breaches cost businesses an average of nearly $5 million per breach
Worldwide, organisations are facing an increasing risk of data being stolen and with the increase in cloud computing, this looks sets to rise further. Highlighting the urgency in taking appropriate measures, the Pnoemon Institute advised that data breaches have risen by 20 percent from USD 4.12 million in 2016 to USD 4.94 million in 2017, according to a recent report by the Ponemon Institute, presented at the recent RSA Abu Dhabi conference.
In response, UAE companies need to ramp up their data protection, argues UAE-based IT infrastructure and information management consultancy and solutions provider Condo Protego.
“Data breaches can be catastrophic for Middle East organisations. Middle East businesses need holistic data protection strategies and solutions to prevent, contain, and remediate data breaches. Solutions from endpoint security to data backup and recovery can reduce costs, ensure business continuity, and enhance customer trust,” said Savitha Bhaskar, COO, Condo Protego.
Encouragingly, the Middle East does have the world’s second-highest spending on data breach response, at $1.43 million per business, the report adds. Data breach response can include help desk activities, investigative activities, and identity protection.
“While the Middle East is spending more on how businesses respond to increased threats, an important factor to securing your data is to invest in a board level role. The appointed person can ensure that data protection strategies are deployed across lines of business, are easy for employees to understand and follow, and that the solutions match the business needs,” added Savitha Bhaskar.