TORONTO, Oct. 18, 2013 /CNW/ - Two recent reports indicate that 7
million Canadians have lost a whopping $3B to cybercrime last year. A
large part of the identity theft, privacy and security breaches are due
to failures of service providers and vendors to protect the personal
information of customers, yet 94% of businesses say they have never
experienced a data breach.
One of Canada's leading security practitioners says the problem is fear
- and offers a surprising solution: outsource security to independent
experts, but bind the relationship to a confidential service level
"Unfortunately, Canadians are in a tough regulatory situation. 42% of
businesses say that they are not concerned about compromising the
personal information of their customers, yet almost a quarter of
Canadians continue to suffer serious losses." says Claudiu Popa, CEO of Informatica Security. "All those breaches are entirely avoidable. All remediation costs are
entirely optional using standardized prevention".
Only a third of companies have a process in place to deal with security
and privacy breaches. The studies, commissioned by Norton/Symantec and
the Federal Privacy Commissioner appear to showcase a vast gap in
awareness and accountability between Canadian individuals and
This week's RBC and Aeroplan privacy woes further highlight the
"97 percent of Canadians have stated categorically that they want to be
notified of breaches involving their personal information. But since
companies feel no pressure to comply, they may have a false sense of
security" said Popa, a respected author and management consultant specializing
in risk assessments for financial and healthcare information systems
As much as Canadians demand accountability, Canadian companies face a
crippling fear of the RFC Triad: reputational, financial and continuity
issues that can severely impact the operational course of their
business, all the way to complete bankruptcy. The solution: preventive
IT controls, certified employees and policy audits.
By demonstrating responsible data collection and protection practices,
Canadian businesses not only "risk" delighting their customers but also
to show how a negative experience can be used to grow their business.
And that can only be a win-win situation.
About Informatica Corporation:
Informatica is Canada's leading management consulting company
specializing in Information Risk Assurance-as-a-Service. The company
provides standards-based assessments and certificates for employee
awareness, IT systems, applications and policies.
The company awards one of Canada's most respected security trustmarks,
the Statement of Trust™ to companies that demonstrate verifiable best
practices. Its Verify™ Risk Assessment Framework conforms to global
standards including Privacy by Design™, the Payment Card Industry's
PCI-DSS and others.
Informatica's Certified Risk Advisors manage sensitive projects for
Canadian businesses, associations and government agencies.
SOURCE: Informatica Security Corporation
For further information:
Media Interviews & Commentary contact:
Claudiu Popa, Soundbites@SecurityandPrivacy.ca (Twitter @datarisk)
Informatica Corporation: www.SecurityandPrivacy.ca
1 Yonge St., Toronto, Canada