Most organisations do not possess confidence in their ability to protect data after experiencing a data breach. In fact, one third have experienced a data breach in the past year.
Gemalto's third annual Data Security Confidence Index report discovered that despite the growing number of data breaches and over 3.9 billion data records being lost or stolen worldwide since 2013, companies continue to believe that perimeter security technologies are effective against data breaches.
Over two thirds (69 percent) of IT professionals are not confident their data would be secure if perimeter defences such as firewalls and content filtering were breached. Two thirds (66 percent) believe unauthorised users can access their networks and 16 percent feel that unauthorised users have access to their entire networks.
The findings say that 78 percent of IT decision makers admitted to adjusting their strategies as a result of high profile data breaches, with 86 percent saying they increased spend on perimeter security and 85 percent believing that they put their money in the right security technologies.
Despite increased investments in perimeter security, organisations have not made significant improvements to reduce the amount of data breaches as 64 percent said their companies underwent a breach at some point over the past five years and 27 percent experienced a breach in the past year.
The study collected responses from 1,100 IT decision makers in various industries from the UK, the US, France, Germany, Russia, India, Japan, Australia, Brazil, Benelux and the Middle East.
“While companies are confident in the amount of spending and where they are spending it, it's clear the security protocols they are employing are not living up to expectations. While protecting the perimeter is important, organisations need to come to the realisation that they need a layered approach to security in the event the perimeter is breached. By employing tools such as end-to-end encryption and two-factor authentication across the network and the cloud, they can protect the whole organisation and, most importantly, the data,” said Jason Hart, VP and chief technology officer for data protection at Gemalto.