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Monday, December 30, 2019
Australian Companies have dangerous Data Sharing Practices
Third-party partnerships have become a normative, even necessary, component of doing business in 2019. Unfortunately, for many companies these potentially beneficial relationships are often a liability when it comes to data security. According to a recent study by Security in Depth, 84% of Australian companies had not completed a formal review of their data sharing practices with third-party partnerships, a staggering amount of negligence in today’s digital environment.
For instance, nearly 60% of those surveyed acknowledged that they had experienced a third-party data breach in the past 12 months, a 3% increase from the previous year. These figures reveal a growing chasm between the known threat landscape and the steps that companies are willing to take to protect their valuable company and customer data.
Indeed, today’s threat landscape is expansive, but companies can mitigate many of the most prescient threats by partnering with MSPs that can offer best practices for securing third-party vulnerabilities. As the cost of a data breach quickly escalates, business leaders have millions of reasons to focus on cybersecurity as a business priority.