A joint study released today by the IAPP and TRUSTe finds more and more companies are turning to privacy expertise to enhance security results and protect against data breaches. The study – How IT & InfoSec Value Privacy – polled 550 privacy, IT and information security professionals across the globe in December and January.
The findings reveal a significant increase in privacy-related investments, with 42% of firms spending more on privacy technology, outpacing investment in external counsel and auditors. The study also confirms the well-documented extent of the cybersecurity threat as 39% reported an incident in the last two years and increased their information security and privacy investments alike to address the growing threat.
In fact, the study shows that the most important way to protect against cybersecurity risk is through constant communication between the privacy and security teams, many of which are now populated with staff from each discipline. Companies are also using core privacy functions to better understand the extent of their corporate risk, with 41% increasing use of privacy impact assessments and data inventory and classification, and 40% increasing use of data retention policies.
“The study shows a change in the way companies are protecting themselves against cybersecurity threats,” IAPP President and CEO J. Trevor Hughes, CIPP said. “As the threat of cybersecurity breaches increases every day, companies are getting smarter about protecting themselves against this threat, and more are recognizing the importance of security and privacy working hand in hand to mitigate the risk and enhance accountability.”
Chris Babel, CEO TRUSTe and Omer Tene Vice President of Research and Education, IAPP will be discussing the report findings at the RSA 2016 Conference in San Francisco this week in a panel session from 8.00-8.50am North | Room: 133 on Wednesday, March 2
To find out more about how TRUSTe’s privacy solutions can help strengthen your infosecurity program chat to the team in the North Expo Exhibit Hall, Booth #N3017 or call on 1-888-878-7830.