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December 5, 2013

Irish businesses ‘review cyber security procedures after high-profile breaches’

Tarnished reputations are one of firms’ biggest fears from a cyber attack, finds survey.

By Joe Curtis

Nearly two-thirds of Irish companies have reviewed their IT security procedures in the wake of recent breaches, a survey has found.

Integrity Solutions announced the results of its November research today after speaking to attendees of the IRISS cybercrime conference in Dublin.

The survey found 59% of organisations have reviewed their procedures following cyber security breaches like that at Loyaltybuild, from which hackers stole around 376,000 people’s card details.

The loss of confidential data was the most prominent fear for firms, cited by 66% of 130 surveyed, while other leading concerns included reputational damage at 57% and disruption to service at 52%.

Almost a quarter said their companies did not have any plan in place to cover a security breach, compared to 62% which said theirs did.

Sean Rooney, technical director at Integrity Solutions, said: "The fear of losing confidential data is very high at present. Businesses need to do everything in their power to guard data so that consumers are protected at all times.

"It’s interesting to note that reputational damage is the next biggest concern, as any data breach can have serious consequences for an organisation’s brand."

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