Cybersecurity and data privacy captured the two top spots in respondents’ list of EC concerns, according to the 2019 Definitive Corporate Compliance Benchmark Report.
Data security and privacy breaches have become a daily worry for most organizations and research shows that most organizations have poor cybersecurity defenses and abundant amounts of unprotected data, making them easy targets for attacks and data loss.
But, only two thirds of organizations are managing policies and conducting training in cyber security, data privacy and confidential information, likely due to flat budgets. Additionally, many organizations believe their board members are not a source of risk for cybersecurity issues and that they understand the problem well enough to avoid missteps.
Other key findings include:
- Less than half of respondents (46 percent) have implemented third party due diligence programs.
- Organizations are struggling to address issues that have dominated news cycles in recent years, including: harassment, bribery/corruption, data privacy/security and conflicts of interest.