October 20, 2018
The British Standards Institution (BSI) has announced the results of a study which demonstrate that one in six European businesses is not adequately ready to face the danger of a data breach.
This is mainly worrying as the European Union’s General Data Protection Regulation (GDPR) turned into enforceable on May 25 this year. According to the new GDPR rule businesses face penalties of €20m or 4 percent of yearly international revenue, whichever figure is higher.
BSI Group is the federal standards body, of the UK, which generates technical standards on a wide variety of products and services including accreditation and standards-related facilities to companies.
The report demonstrated that 73 percent of groups who took part in the BSI research was ‘worried about cybersecurity and were looking for solutions’. Nevertheless, one in six groups informed the scientists that they had no plan in place to tackle data breaches. 33 percent said they were not presently completing cybersecurity checking as opposed to 59 percent disclosing that they were engaging in end-user security consciousness programs.
Stephen O’Boyle, Global Head of Cybersecurity and Information Resilience Services at BSI, issued a statement in relation to the outcomes of the report saying: “Training and education are vital when it comes to getting information resilience and it’s heartening to see that companies are actively applying consciousness programs in the workplace. Nevertheless, being proactive regarding cybersecurity is a business’s best defense and it is unlucky to see that one in six companies are unready for a breach and that over a third of businesses are not taking part in cybersecurity testing within their business.”
He went on to say: “The rise in looming malware dangers, the significance of complying with new data defense rules, the treatment of Shadow IT, and the signs of progress in social engineering have been at the front position this year. At BSI, we work with companies to apply tailor-made plans that include training at all levels of a business, from senior managers to junior workers, as well as cybersecurity testing facilities to identify and tackle any vulnerabilities. The cyber landscape is evolving, and companies need to make sure that they are ready so that they can remain resilient in safeguarding their information, people and status, both now and, in the future.”
GDPR was adopted by the European Parliament on April 14 2016 and organization, companies, groups, and firms doing business within the European Union and administering the confidential data of European Union inhabitants were given until May 25, 2018 to put in place procedures and systems in order to abide by the new law.