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SMEs harbor data security issues

Rachel Wheeler Archive
Data security issues continue to plague a significant number of small businesses, new research has found.

Organizations remain cautious over e-risk and cyber crime problems, a recent study from specialist small business insurance firm Hiscox has found.

The study took place in the wake of the release of new government figures which highlighted the impact of cyber crime on the national economy, with the figures highlighting the fact that 22 per cent of businesses had cyber crime concerns compared to the just eight per cent that worried about theft.

"In light of these latest government figures and the importance of data to businesses, it is essential that SMEs have strategies in place to mitigate online risks," said Alan Thomas, insurance expert at the firm.

Meanwhile, the results of the Small Merchant Data Security Survey found that while 79 per cent of US businesses believe their data to be secure, 21 per cent remained unsure about its security.

"People are bad about gauging risk," Robert McMillon, director of solution development for security solutions provider, told DM News. "We tend to prioritize things that are big and spectacular, and we underestimate risks that are more mundane."

Posted by Rachel Wheeler