INSIDE JOBS, OUTSIDE VENDORS POSE BIG THREATS TO CORPORATE DATA

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State-sponsored super-hackers out to steal your secret formulas, shadowy gangs of cybercriminals from abroad looking to make a buck off of your customers’ information, disaffected brilliant youngsters out to prove a point … this is the stuff of movies and tabloid headlines that might fuel C-Suite insomnia, or at least indigestion.

But corporations seeking to limit data breach risks might want to worry less about such things and more about the new employee in accounting, according to a comprehensive global survey of corporate privacy professionals--commissioned by Bloomberg Law and the International Association of Privacy Professionals (IAPP)--that identifies employees and vendors as two sources of risk that corporations are failing to manage properly. 

Survey participants identified “buy-in” from corporate leadership as the most important factor in mitigating the risk of a data breach, with 89% considering it “important” or “very important.” Respondents rated their employers’ performance relatively strongly in that regard (55% considered it excellent or almost excellent. They issued considerably lower scores for their employers’ performance on two other significant sources of risk: employee monitoring (35%) and vendor management (30%).

Coinciding with the survey, Bloomberg Law has launched a new, innovative tool—Bloomberg Law: Privacy & Data Security—for attorneys, in-house counsel and compliance professionals whose work touches on this area of exponential growth and concern.

And to keep up with the constantly evolving world of privacy and security sign up for the Bloomberg BNA Privacy and Security Update