HelpNet Security – Businesses collect more data than they can handle, only half know where sensitive data is stored

helpnetWith pressure to ensure consumer data is protected mounting, Gemalto today released the results of a global study which reveals that 65% are unable to analyze all the data they collect and only 54% of companies know where all of their sensitive data is stored.

Compounding this uncertainty, more than two thirds of organizations (68%) admit they don’t carry out all the procedures in line with data protection laws such as GDPR.

“If businesses can’t analyze all of the data they collect, they can’t understand the value of it – and that means they won’t know how to apply the appropriate security controls to that data,” says Jason Hart, VP and CTO for Data Protection at Gemalto. “Whether it’s selling it on the dark web, manipulating it for financial gain or to damage reputations, unsecured data is a goldmine for hackers. What’s more, data manipulation can take years to discover, and with data informing everything from business strategy to sales and product development, its value and integrity cannot be underestimated.”

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