Prime Factors Blog

Data Security Breach Responsibility Shifting to C-Suite, Costly Blind Spots Affect Company’s Financial Landscape

Posted by Pete Flagella on Sep 27, 2017 12:45:49 PM

Data breaches through all industry verticals are on the rise and the responsibility for those breaches has shifted to the C-Suite. According to 2017 data breach reports by Forrester and Verizon, “45% of IT Practitioners don’t believe that brand protection is taken seriously in the C-Suite and 42% of CMO’s don’t believe that brand protection is taken seriously in the C-suite.”  This kind of “in the dark” thinking creates blind spots with costly consequences resulting in decreased bottom line, shareholder value, and damage to the brand.  Additionally, the reports state, “31% of consumers discontinue relationship after a breach.”   The C-Suite miscalculation of risk must be taken seriously and can no longer be viewed only as an IT issue, but rather must be treated as a shared responsibility.

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Topics: encryption, PCI Data Encryption, PCI Data Security Standards, data breach, equifax