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IDC Survey for ESET: Businesses Confused about EU’s Data Privacy Regulation; Encryption Desired by Over One Third of the Companies

Created: 2017-02-28 08:01:30

ESET, the leading IT security vendor based in the European Union, has partnered with leading global analyst firm IDC to survey small and medium-sized businesses in selected countries about their approach to the EU’s new General Data Protection Regulation (GDPR) and endpoint security. The results show that European businesses are still unsure about the regulation - almost 78% of IT decision makers at more than 700 European companies either lacked understanding about the impact of the regulation on their organizations or were completely unaware of it. However, encryption, which is addressed by the GDPR, is desired by more than every third company in the survey. These and other findings of the IDC survey commissioned by ESET are being released during the Mobile World Congress in Barcelona. The Congress runs through March 2, 2017 and ESET experts will be highlighting the topic at the ESET booth, in Hall 5, booth B05.

“63% of confirmed data breaches are attributed to stolen or cracked passwords, indicating the critical need for an additional or alternative authentication factor… Anonymization of data is one option, encryption is another; both have pros and cons. Anonymization is good, but can be defeated by correlation from more sources. Encryption resolves that but – at least until recently – was seen as too complex and expensive for most small and medium-sized enterprises,” says IDC Research Manager Mark Child in the report. “Protecting customers and partners is of course paramount to the continued success and survival of any entity, however companies also increasingly recognize the business value of their data and are aware of the expanding legislative frameworks they must comply with and the penalties levied for failing to do so,” adds Child.

Still, the ground-breaking EU regulation is not completely understood by business. Of those that are aware of the GDPR, 20% say they are already compliant, 59% say they are working on it, and 21% say they are not prepared at all. IDC carried out its survey among IT professionals in more than 700 businesses in the Czech Republic, Germany, Italy, the Netherlands, Slovakia, Spain and the United Kingdom during Q4 of 2016.

Another interesting finding by IDC is the approach of European small and medium-sized enterprises towards encryption. “Many organizations recognize that their existing antimalware software is insufficient in the current threat environment, and half of respondents cited this as their top area to add to or upgrade,” says IDC’s Child. Encryption, which is mentioned in the GDPR regulation, is desired by 36% of the respondents.

“ESET is one of the companies to address encryption early on, with our DESlock encryption solution – ESET is providing safeguards for businesses to meet the EU’s requirements,“ says Pavol Balaj, Head of Business Development in EMEA at ESET, speaking at the Mobile World Congress.

For more on the GDPR, and how ESET is helping businesses get ready for the new regulation, read the whitepaper and visit our dedicated webpage. For more on the IDC survey findings, visit ESET’s special website and get your own copy of the full whitepaper.

About ESET
ESET®, the pioneer of proactive protection and the maker of the award-winning ESET NOD32® technology, is a global provider of security solutions for businesses and consumers. For over 26 years, the Company continues to lead the industry in proactive threat detection. By obtaining the 80th VB100 award in June 2013, ESET NOD32 technology holds the record number of Virus Bulletin "VB100” Awards, and has never missed a single “In-the-Wild” worm or virus since the inception of testing in 1998. In addition, ESET NOD32 technology holds the longest consecutive string of the VB100 awards of any AV vendor. ESET has also received a number of accolades from AV-Comparatives, AV-TEST and other testing organisations and reviews. ESET NOD32® Antivirus, ESET Smart Security®, ESET Cyber Security® (solution for Mac), ESET® Mobile Security and IT Security for Business are trusted by millions of global users and are among the most recommended security solutions in the world.

ESET recently updated its two-factor authentication (2FA) application, adding a secure validation to weak and static user passwords. This updated version of ESET’s 2FA application provides flexibility and deeper integration of 2FA into bespoke applications, making it the best cost-effective solutions for SMBs everywhere.

The Company has global headquarters in Bratislava (Slovakia), with regional distribution centers in San Diego (U.S.), Buenos Aires (Argentina), and Singapore; with offices in Jena (Germany), Prague (Czech Republic) and Sao Paulo (Brazil). ESET has malware research centers in Bratislava, San Diego, Buenos Aires, Singapore, Prague, Košice (Slovakia), Krakow (Poland), Montreal (Canada), Moscow (Russia) and an extensive partner network for more than 180 countries. For more information visit https://eset.version-2.sg/ or follow us on Facebook.

About Version 2 Limited
Version 2 Limited is one of the most dynamic IT companies in Asia. Headquartered in Hong Kong, the Company develops and distributes IT products for Internet and IP-based networks, including communication systems, Internet software, security, network, and media products. Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 Limited offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which includes Global 1000 enterprises, regional listed companies, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

For more information, please visit www.version-2.com.sg or call (65) 6296-4268.

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IDC Survey for ESET: Businesses Confused about EU’s Data Privacy Regulation; Encryption Desired by Over One Third of the Companies

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