White Papers for Gramm Leach Bliley Act (GLBA)

Taking Action to Protect Sensitive Data

Symantec

Only 12 percent of organizations—about one in ten—are experiencing fewer than three losses of sensitive data in the past year. For all other institutions—almost 90 percent—data loss rates are higher.
The leading organizations—those with the fewest losses of sensitive data—are spending more time, employing multiple IT controls, and monitoring compliance with their policies weekly, to significantly reduce the loss of sensitive data. In fact, leading organizations are uniquely:
• Employing multiple IT controls to help protect sensitive data
• Monitoring and measuring controls and procedures to protect data once every four days While best-in-class organizations are monitoring and measuring controls and procedures to protect sensitive data once a week, most firms are conducting such measurements only once in a blue moon: at best, once every 176 days. Furthermore, all other organizations are either ignoring the use of IT controls to protect sensitive data or are selectively employing only a few. In this day of instantaneous electronic information exchange and
24x7x365 Internet-connectivity, infrequent monitoring and under utilized IT controls will likely contribute to more instances of sensitive data loss.

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