For data security, 2015 is predicted to be as bad or worse as 2014, as more sensitive and confidential information and transactions are moved to the digital space and become vulnerable to attack, according to The Ponemon Institute’s study 2014: A Year of Mega Breaches.
The study, sponsored by Identity Finder, shows that the Target data breach and other massive data losses raised senior managements’ level of concern about how cyber crimes might impact their organizations. Before the Target breach, only 13 percent of survey respondents believed senior management was extremely concerned about data breaches. Afterward, 55 percent of respondents rated management’s concern level as extremely high. In response, many companies have allocated more resources to preventing, detecting and resolving data breaches. Sixty-one percent of survey respondents say the budget for security was increased by an average of 34 percent.