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GDPR has driven improved cyber resilience

The introduction of the General Data Protection Regulation (GDPR) has made more UK businesses more resilient to cyber risk, the UK government has said in its latest annual cybersecurity breach survey.

Survey was carried out in the final three months of 2018. The government asked 1,566 UK businesses if they had experienced cybersecurity breaches or attacks within the previous 12 months. In response, 32% of businesses said they had, down from the 43% that said they had experienced such incidents in last year’s survey.

Source: GDPR has driven improved cyber resilience, says UK government

Consumers worried about their privacy but don’t act

As recent PricewaterhouseCoopers report shows, 92% of consumers say they should be able to control the information about them on the internet and 71% say they’d stop doing business with a company for giving away their sensitive data without permission.

However, another study from IBM showed that less than half (45%) of consumers updated privacy settings. Moreover, only 16% stopped doing business with an impacted company, and only 18% deleted a social media account.

Source: The privacy paradox – Axios

Most customers would share more data for better deals from their insurer

Nearly 60% of customers say they would be willing to share significant personal information in return for lower prices and personalized offers.

However, 75% of consumers said they were very cautious about the privacy of their personal information. When asked what would make them leave their current bank or insurer, data breaches were consumers’ second-biggest concern behind increasing costs.

Source: Most customers would share more data for better deals from their insurer – report | Insurance Business

Users Crave Digital Privacy, But Aren’t Willing To Pay For It

Despite fears, 72% of consumers said they are not willing to pay social networks to ensure their personal information be protected. More (93%) believe companies and organizations should provide them with a degree of control over their personal information.

Source: Users Crave Digital Privacy, But Aren’t Willing To Pay For It 03/27/2019

Asian firms are better prepared than European peers to comply with privacy regulations

The report, The transparent business barometer: Preparing for the end of easy data, written by The Economist Intelligence Unit (EIU) found that firms in China and South-east Asia are more confident than those in Europe to deal with potentially stricter rules around consumer-data gathering and use; the US leads both regions.

Asian companies may be ahead of the ethics curve: companies in China and South-east Asia are more likely to tie data-privacy practices to good corporate governance than those in the West. Yet firms also generally believe people are willing to trade data privacy for improved services.

Source: Asian firms are better prepared than European peers to comply with data-privacy regulations, according to new EIU study, Business Insider – Business Insider Singapore

Businesses are spending on cybersecurity, but failing to implement basic practices

Cybersecurity spending has increased, but research shows that organisations are still vulnerable to the most basic of cyber threats.

Just 36% of UK IT leaders are confident that their company’s current IT systems provide adequate protection against cyberattacks.

Full article: Businesses are spending on cybersecurity, but failing to implement basic cybersecurity practices | Verdict

GDPR spurs cybersecurity improvements at biggest public companies

The introduction of the General Data Protection Regulation (GDPR) spurred the UK’s biggest public companies to improve the measures they put in place to protect data, according to a UK government survey.

“The 2018 Health Check indicates that GDPR has increased the attention FTSE 350 boards give to cyber risk,” the government’s survey report said. “Over three quarters of businesses (77%) report that board discussion and management of cyber risk has increased since the introduction of GDPR, and more than half (55%) of these businesses have increased measures as a result.”

Source: GDPR spurs cybersecurity improvements at FTSE 350 companies

Consumers Worry About Personal Data Privacy But Few Take Action

Eighty-one percent of consumers say they’ve become more concerned about how companies use their data, while 87% think companies should be more heavily regulated on personal data management, according to privacy survey from IBM’s Institute for Business Value.

But even though consumers are concerned with one story after another of companies losing or misusing personal data, apparently it’s not enough for them to take actions in response. Seventy-one percent said that they were willing to give up privacy to get access to what technology can offer. Only 45% have updated their privacy settings on products in response and 16% walked away from a company because of data misuse.

Source: Consumers Worry About Personal Data Privacy But Few Take Action: Study | Fortune

New Study Finds Millennials Concerned About Privacy, But Lax On Security

In a Rivetz-commissioned survey of 1,000 U.S. adults, Rivetz found that respondents were incredibly reliant on their smartphones: two-thirds of respondents were willing to allow a friend to borrow their car for 24 hours, but the same percentage were not willing to allow a friend to borrow their smartphone for the same amount of time.

More than 90 percent of respondents said they would find it important or extremely important to prevent someone from accessing the content on their smartphone if they lost it. However, despite fears of losing their smartphones, younger generations were found to be much less concerned about protecting their data than other generations.

Source: New Study Finds Millennials Concerned About Privacy, But Lax On Security

83% of consumers now aware of marketers tracking their locations

The majority of people (63 percent) are now much more aware that marketers are using their personal data as compared with a year ago, likely due to stepped up reporting about various data breaches and scandals. Beyond this, 83 percent of survey respondents said that they were aware that companies “actively track their location data.”

Consumers have a layered or somewhat nuanced view of location tracking. The audience breaks into three groups: those who’ve disabled location tracking (33 percent), those who have permanently enabled it (29 percent) and those in the middle (38 percent) who will sometimes enable it when prompted.

Source: 83% of consumers now aware of marketers tracking their locations – study – MarTech Today

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