Report Offers Latest Insights and Guidance in Fight Against Data Loss and ID Fraud

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<strong>Ely, England &mdash; April 15</strong><br />Today sees the official launch of "Data Breaches: Trends, Costs and Best Practices," the first in a new series of best-practice reports from IT Governance. This new study provides organizations with up-to-the-minute insights into the current state of data breaches globally and guidance on the best-practice responses that help organizations comply with international data-protection regulations and avoid operational, financial and reputational damage.<br /> <br />"Data Breaches: Trends, Costs and Best Practices" is a timely and authoritative report aimed at executives, information security managers, risk managers, auditors, compliance managers, stakeholders and data controllers worldwide. It assesses the true state of today&#39;s data breach environment; recognizes the real, damaging trends that affect organizations and individuals; and identifies current and emerging best practices in controlling the risks and costs arising from inadequate data security. <br /> <br />As part of its research for this report, IT Governance polled 130 technology and compliance professionals on issues concerning the security of personal information. The respondents included some of the best informed professionals in this area, as evidenced by the high proportion of organizations with independently certified data-security measures. As recently announced, the survey findings included the following facts:<br /> <br /><ul><li>Sixty-eight percent of employees admit to bypassing their employers&rsquo; information security controls in order to do their jobs, suggesting that their managers are failing to implement policies that strike the correct balance between the confidentiality and availability of information. </li><li>More than 80 percent of organizations have a data controller or someone responsible for maintaining privacy, and 82 percent have clear policies and procedures for protecting personal data; however, only 55 percent of employees handling personal data have been trained in their legal responsibilities in respect of this information. </li></ul><br />"Data Breaches: Trends, Costs and Best Practices" contains the following essential reading:<br /> <br /><ul><li>An introduction to the importance and value of personally identifiable information in today&#39;s digital economy.</li><li>Trends in reported data breaches in the 21st century: numbers, sectors, consideration of insider versus outsider threats.</li><li>The cost of data breaches and identity fraud, including those affecting organizations, individuals and society.</li><li>Data-protection legislation and regulation across the EU and U.K., United States, Canada, Australia and South Africa. Issues addressed include the rights of data subjects and discussion of the relevant aspects of sectoral regulation, including the Gramm-Leach-Bliley Act, the Fair Credit Reporting Act, Safe Harbor, HIPAA, the Federal Information Security Management Act (FISMA), the Federal Financial Institutions Examination Council standards (FFIEC), Sarbanes-Oxley (SOX) and Basel II. </li><li>Data protection issues associated with outsourcing.</li><li>The Payment Card Industry Data Security Standard (PCI DSS).</li><li>Causes of data breaches, both external and internal.</li><li>Trends in data breach causes &mdash; with the U.S. and U.K.</li><li>Ten key recommendations for immediate improvements in data security. <br /></li></ul><p> </p><p>Alan Calder, chief executive of IT Governance, commented, &ldquo;Identity fraud and identity theft have become major blights on the global economy. Organizations simply have no alternative but to ensure that they are safeguarding individual information. A failure to do so invites harsh consequences, including legal action, regulatory fines, brand damage and long-term decline. &#39;Data Breaches: Trends, Costs and Best Practices&#39; is required reading for all decision makers involved in protecting personal data; only by understanding the current threat landscape and regulatory issues can they take the informed decisions demanded of them.&rdquo; <br /></p>

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