An unnervingly large percentage of companies are underprepared when it comes to data protection, according to a new cybersecurity study from international law firm Pillsbury Winthrop Shaw Pittman.
Conducted in partnership with Mergermarket, the survey polled corporate board members, C-level executives and in-house counsels. Among its key findings were:
“More and more companies are handling sensitive data, and some industry experts project global annual losses from cyber threats to reach US$10.5 trillion by 2025,” said Deborah Thoren-Peden, Pillsbury partner and co-leader of cybersecurity, data protection and privacy for the firm. “While many companies feel pretty confident in their current cybersecurity infrastructure, the stakes are simply too high not to scrutinise their cybersecurity programs carefully, especially given the inconsistencies we’ve found through our survey.”