Increasing Cyber and Data Breach Risks Linked to Business Management

Increasing Cyber and Data Breach Risks Linked to Business Management

According to survey results from Stroz Friedberg, a global leader in investigations, intelligence, and risk management, corporate managers put their companies at high risk of data breaches and intellectual property loss. In other words, it’s not necessarily the rank-and-file workers who present the biggest risks.

In a survey called “On the Pulse: Information security Risk in American Business” of more than 750 information workers in U.S. businesses, it was found that 87% of senior managers frequently or occasionally send work materials to personal email or cloud account, thereby increasing the company’s cyber and data breach risks. The survey also found that 58% of senior managers say they have accidently sent the wrong person sensitive information, compared to 25% of workers overall.

Cyber and data breach risks don’t disappear when corporate managers leave the company: more than 50% of senior management and 37% of mid-level management admit to brining job-related emails, files, or materials with them after leaving their employers. Only about 20% of lower ranking employees do so.

“Insiders are by far the biggest risk to the security of a company’s sensitive information, whether it’s a careless executive or a disgruntled employee,” said Michael Patsalos-Fox, CEO of Stroz Friedberg.

A potentially alarming discovery from the survey is that 52% of senior managers say that they are failing and reducing cyber-threat risks. What many of these managers may not realize is that bring-your-own-device, or BYOD, workplaces open the doors to hackers, malware, and viruses. Corporation communication and training can mitigate that risk, but only 35% of employees at those BYOD companies say that they received training on mobile device security from their employers.

Cyber and data breach risks cannot always be avoided, but it is possible for your business clients to protect themselves financially should one occur. At PLRisk, we know that all industries and companies could face the risk of a privacy or network security breach. Our coverage is the solution to helping your customers manage and protect against this risk. Please contact us at (855) 403-5982 for more information.