Recent research carried out by YouGov Plc and Noddle Protect (part of Callcredit) has suggested that over half of the decision makers in large businesses deem cyber-attacks as something that keeps them up at night. Slightly less than half of the 281 respondents said that they were having sleepless nights about a data breach resulting from data theft or irresponsible action.
When discussing consequences of data breaches, the primary concerns for respondents was reputational damage. This was seen as more concerning than loss of customers, regulatory fines or falling share prices. This suggests that the long term effects of a data loss incident are more concerning than the short term impacts for decision makers in large businesses.
However most decision makers feel that they are prepared for a breach, 81% of participants say their business is ready to tackle this problem. The biggest variation did come in exactly how these companies were prepared. Post-crisis management processes are common, with over half having a business continuity plan, and only slightly fewer having a crisis management plan. The statistics for catching and dealing with in progress incidents was comparatively low, only 39% have a security monitoring team; suggesting that the focus is on what to do after an attack, not to detect one in progress.