In a release set to worry many customers 46% of companies surveyed in Ireland indicated they would not disclose a data breach to impacted customers or suppliers.

Ward Solutions, an Irish security provider, has revealed the results of a new survey that found almost half of Irish businesses wouldn’t disclose a data security breach, this is despite 33% of Irish businesses admitting that they have suffered a data breach in the past 12 months.

Worrying for customers, suppliers and employees is the fact that more than one-quarter (26%) of respondents admitted that they have no official crisis management plan to deal with potential data breaches.

Reactive policies in the Irish business sector indicate that 21% of businesses consider achieving compliance to be more important than reducing security risks when it comes to their IT security investment.

CEO of Ward Solutions, Pat Larkin, said: “It is crucial for all Irish businesses to know exactly where their data is at all times and who is handling it. A lack of that knowledge puts organisations, and their customers, at greater risk of being attacked. It’s a major concern that almost half of Irish companies would not inform their customers, partners or suppliers that their information has been compromised through a data breach. 

“There’s a worrying trend that cybercrime is being under-reported in Ireland. Customers place their trust in the companies they deal with and it is every business’s obligation to be transparent with those customers and inform them of any risk to their data. However, we do expect that more robust compliance obligations will drive reporting levels up in the near future.”

Source: www.businessworld.ie