Tag Archives for " report "

Consumer Privacy Concerns Regarding Fintech Apps Remain High

Nearly one-third of U.S. banking consumers use online and mobile fintech apps to help manage their money. But those users are concerned about data privacy and want more control over the financial data their apps can access. The research shows consumers would trust financial institutions as custodians of their data.

Source: Fintech Apps: Consumer Privacy Concerns Remain High

Is data security a waste of money?

The study surveyed about 1,000 consumers and 660 business and cyber security professionals from over 600 companies earning at least $100 million in annual revenue across ten countries, including the US, UK, Australia, China, India and Japan. It found that 48 percent of consumers stopped trusting and using a company’s services because of a data breach.

Though company executives admitted that the breach negatively affected their bottom line, one-third of business execs from major global companies said they saw security initiatives as a negative return on investment.

Source: Data security is a waste of money, says execs whose companies suffered data breaches, Business Insider – Business Insider Singapore

Nearly One-third of Organizations Still Not Completely Prepared for GDPR

Imperva survey conducted at the Infosecurity Europe reveales that 28 percent of organizations do not feel completely compliant with GDPR. When asked whether they thought they would pass their first GDPR audit, less than half of the respondents said they were very confident they would pass the audit, over one-third were somewhat confident, and less than one-fifth said they were not confident.

Source: Imperva Survey Reveals Nearly One-third of Organizations Still Not Completely Prepared for GDPR | Business Wire

Google’s data collection is hard to escape

A new study from Vanderbilt University examined how much information Google collects about people each day. It turns out that Google collects far more data than Facebook and is the world’s largest digital advertising company. Its vast portfolio of services, from Android to Google Search to Chrome to Google Pay, create a firehose of data.

Source: Google’s data collection is hard to escape, study claims

FPF Releases New AI Resource Guides

Future of Privacy Forum has launched Resource Guides which collect current and leading news, academic publications, and multi-media training, providing in-depth sources for the technical, educational, and policy-focused perspectives.

Source: FPF Launches AI and Machine Learning Working Group and Releases New AI Resource Guides

Report: 90% of Visitors to EU domains grant GDPR Consent

A recent report published by consent management platform Quantcast Choice has revealed that, for European Union (EU) domains an average consent rate over 90 percent is being experienced. Around 81 percent of all users said yes to everything. The remaining 8 percent said yes to some things.

Source: Quantcast Report: 90% of Visitors to EU domains grant GDPR Consent – Compliance Junction

2.6bn records have been exposed in data breaches so far this year

While the volume of data breaches has actually decreased from last year, exposed records remain stubbornly high. The report shows that 2,308 publicly announced data breaches occurred, with 2.6bn records exposed along the way.

Source: 2.6bn records have been exposed in data breaches so far this year

Highest reported breaches ever according to ICO annual report

UK’s Information Commissioner’s Office (ICO) has recently released its annual report for 2017 – 2018. One of the most obvious impacts of GDPR revieled by the report is the number of breaches reported to the ICO. In 2016-17 2,565 breaches were reported, and 3,311 breaches reported in 2017-18. The annual report covers the period to 31 March 2018 (i.e. before GDPR came into effect) which makes the jump striking.

Source: Highest reported breaches ever according to ICO annual report

Privacy technology market penetration growing rapidly

TrusyArc and The International Association of Privacy Professionals (IAPP), conveyed a research that examined how privacy technology is bought and deployed to address privacy and data protection challenges. The findings show that privacy management technology usage is on the rise across all regions and that privacy teams have significant influence on purchasing decisions for eight of the ten technology categories surveyed.

Source: Survey reveals privacy technology market penetration growing rapidly, on pace to exceed 50% adoption for eight of ten most common categories

Cost of compliance 2018

Thomson Reuters has carried out its annual survey on the cost of compliance and the challenges financial services firms expect to face in the year ahead. The survey generated responses from more than 800 senior compliance practitioners worldwide, representing global financial institutions, banks, insurers, broker-dealers and asset managers. As with all previous years, the report builds on annual surveys of similar respondents and, where relevant, highlights year-on-year and regional trends.

Read article: COST OF COMPLIANCE 2018: Challenges compliance officers expect in 2018, closing thoughts | Reuters