Nearly all (89 percent) UK organisations feel somewhat or more vulnerable than they have been in the past to internal and external threats to sensitive data.
Vormetric, in conjunction with 451 Research, conducted a study entitled European Edition of the 2016 Vormetric Data Threat Report (DTR) and found that nearly one in five (19 percent) UK organisations experienced a breach in the past 12 months, resulting in many planning to increase security spending in the coming year. Planned IT security spending by UK organisations is highest for network defences (42 percent), analysis and correlation tools (39 percent) and endpoint and mobile defences (38 percent).
The European edition of the report analysed responses from over 200 IT security executives from the UK and Germany. The global report gathered responses from senior IT security executives at large enterprises worldwide, including 100 from the UK.
Among UK organisations, the three most important reasons for securing sensitive data were reputation and brand protection (50 percent), compliance requirements (47 percent) and implementing best security practices (41 percent). Compliance requirements topped the priorities at 48 percent when it came to IT security spending plans and then reputation and brand protection came in second at 45 percent.
Protecting sensitive data generated by an Internet of Things (IoT) device is the biggest security concern for 42 percent of UK respondents planning to adopt IoT technologies.
Commenting on the findings of UK-based organisations, Garrett Bekker, senior analyst, information security from 451 Research and author of the report, said: “Clearly organisations are having trouble prioritising their budgets to best ensure the safety of customers and the viability of their business.”
“Enterprises and public sector organisations are under increasing scrutiny from stakeholders and the public where it comes to safeguarding confidential and sensitive information,” said Louise Bulman, VP of EMEA for Vormetric. “It's therefore surprising and concerning that companies are continuing to over-rely on tools that consistently fail against modern, multi-layered attacks. Technology that concentrates fundamentally on controlling access to data is a far more affective approach, and one which can bring about additional benefits by enabling technologies like cloud, big data and IoT which may otherwise have been deemed too risky.”