A sizeable 60 per cent of UK organisations have suffered at least one data breach over the last 12 months, according to a new survey.
Correspondingly, the use of encryption to comply with privacy and data security regulations has leapt from 17 per cent in 2007 to 58 per cent this year. However, only 15 per cent of organisations now have an encryption strategy applied consistently across the organisation, up from nine per cent in 2007.
Key management was a major issue for respondents, with organisations planning to spend on average 33 per cent of their total encryption budget on key management solutions. More than half (51 per cent) expect their key management investments to reduce the overall operational costs of enterprise data protection.
The annual study involved nearly 650 UK-based IT and business managers, analysts and executives. It was commissioned by encryption vendor PGP Corporation, and conducted by the Ponemon Institute.
Recent research conducted by the Ponemon Institute found the cost of a data breach in the UK to average £47 per record compromised or an average total of £1.4 million per breach.