Nearly 75 per cent of the largest UK companies have admitted they do not currently have systems in place to track and trace potential data theft according to a recent survey.
The survey, commissioned by vendor LogLogic and conducted by Vanson Bourne, polled senior IT directors in 100 large UK enterprises (1,000 staff and over) representing the financial sector, manufacturing, retail and other industries.
The survey found that of those companies who report having systems in place to monitor IT data, over 60 per cent say it takes them several days to identify security breaches involving data theft and just 20 per cent report they are able to perform the appropriate forensics within one working day.
'Despite the potential liabilities and risk to their companies, it is startling that IT directors in the UK are largely unable to perform simple forensics to determine data theft,' said Ross Brewer, managing director of European operations for LogLogic.
'Equally disturbing is that relatively few companies even have the ability to properly monitor employee movements and the data linked to those employees, while acknowledging the awareness of the risks of reputational damage, theft of intellectual property and potential fraud.'
The research found that of those companies that do not have a system to track data theft, 80 per cent report that they are ‘concerned,’ and cite a lack of budget as the key reason for the failure to address the security issue.
Monitoring or tracking employees was also a concern with 40 per cent of those surveyed reporting that they are not immediately aware when an employee leaves or is terminated from their organisation. Further compounding the issue, over half of those surveyed admitted that they do not know how employees’ data is handled before or after they leave.
Roy Illsley, senior research analyst at Butler Group, said: 'Today's knowledge based workers regularly use email, Internet browsing, and Instant Messaging (IM) as tools to conduct company business. While organisations have constructed elaborate defences to protect them from external threats, such as firewalls and encrypted passwords, most ignore the threat from within.'
'Corporate data, some of which may be confidential, can be transferred via a wide range of methods (e.g. memory sticks, CD, DVD, e-mail, and Instant Messenger) allowing this data to be removed from the employers corporate data repository and used for nefarious purposes, such as blackmail or selling trade secrets. It’s vital that organisations recognise how simple it is for infringements to take place and take appropriate preventative action,' said Illsley.
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