Data breach investigation and deadlines

December 29th, 2016 by admin Leave a reply »

Balabit survey recently conducted a survey of more than 100 IT companies and security professionals. It has following observations:

Seventy-five percent fix time limit for investigation of potential data security incidents

Forty-four percent said that they missed internal or external deadlines of data breach investigation or reporting

Seven percent of respondents mentioned that they faced serious consequences due to missed deadline

“The Balabit survey identified that the primary reason for not being able to investigate data breaches in time is that organizations still do not understand their own data,” Balabit product manager Peter Gyongyosi said in a statement. “It is difficult for them to extract the necessary information from unstructured data with their existing tools and they lack the contextual information that would help transform this data into valuable, actionable information.”

Survey also found out that thirty percent need not report to external authorities about the progress

Seventy percent are required to report to external authorities but only twenty-five percent has set time limit

“Data and information are two different things entirely,” Prevalent director of product management Jeff Hill said. “The former is easy to collect; extracting the latter from it is much easier said than done.”

“The results of the Balabit survey are likely to surprise few in the cyber security community,” Hill added. “Investigating breaches is tedious, requires specific expertise, is increasingly difficult as attack vectors become more sophisticated, and is usually undertaken in a highly stressful and pressure-filled environment. Current techniques often require the painstaking parsing of millions of logs and identifying subtle changes in behavior.”

“CEOs are underestimating their companies’ cyber vulnerabilities,” RedSeal chairman and CEO Ray Rothrock said in a statement. “Their confidence does not square with what we observe. Cyber attacks are up and financial losses associated with these attacks are increasing dramatically.”

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