The best privacy practices one applies business, the less likely he is to fall victim to a cyber attack.
More specifically, according to an Osano survey, companies that do not use adequate privacy practices are 80% more likely to accept attacks and pay them fines seven times higher than companies that practice good practice security.
The companies with the lowest score in terms of privacy practices lost 600% more data from high scoring companies.
In addition, the organizations with the lowest scores were not so easy to identify the source of a violation.
Educational and government websites are 15 times more likely to crash victims infringement in relation to commercial websites.
"Faced with relentless breaches and increased awareness of data security, consumer and shareholder confidence in businesses is gradually eroding. "Companies that do not protect their sensitive data will face serious negative consequences, and the report demonstrates exactly how these phenomena are related." said Osano CEO, Arlo Gilbert.
"There is a perception that privacy issues are like a speeding fine - a risk worth taking. The Companies who do not change their perception are more likely to face data breaches and lose the trust they have built with their customers. "
The average company shares its data with 730 different vendors and according to the Foundation of Internal Auditors, these partners are responsible for two of the three data breaches.
Many companies are lagging behind in their current data privacy requirements. By adopting the right privacy practices, companies can reduce their chances violation and maintain the trust of their customers.