Noddle Protect & YouGov research finds 51% of business decision-makers are kept awake at night by the threat of a data breach caused by a cyber-attack

Share this post

  • 57% most concerned about damage to corporate or brand reputation
  • 68% unaware of EU General Data Protection Regulation

20 April 2016: Cyber risk research carried out by Noddle Protect and YouGov* amongst senior decision-makers in large businesses, has revealed that 51% are being kept awake at night by the threat of a data breach caused by a cyber-attack; and 49% are having sleepless nights about a data breach resulting from data theft or irresponsible action.

Noddle Protect, which launches today, is a data breach solution from Callcredit Consumer Markets, which helps safeguard businesses from the reputational damage of a data breach and safeguard consumers’ digital identity.

Loss of reputation a bigger concern than fall in share price

If businesses were to fall victim to a data breach, 57% say their biggest concern would be damage to their reputation, ahead of a loss of customers (17%), fine by a regulator (8%) or fall in share price (7%).

“Managing strategic risk and reputation has become a high priority for executives operating in today’s digital plc,” said Jacqueline Dewey, Managing Director, Callcredit Consumer Markets.  “Noddle Protect can help safeguard businesses from the reputational damage of a data breach and safeguard consumers’ digital identity,” she continued.

Businesses prepared for a data breach

A significant 81% of business decision-makers say their business is prepared to tackle a data breach compared to 12% who say they are not.  In order to protect themselves against a data breach, 53% say their business has put in place a business continuity plan, whilst 43% have a crisis management plan; but only 39% have put in place a security monitoring team and only 38% had appointed a board director with responsibility for IT security such as a Chief Risk Officer or Chief Data Officer.

Low awareness of proposed EU General Data Protection Regulation

Changes in EU data protection law mean all organisations at risk of a data breach need to be prepared to safeguard their consumers.  The biggest impact on regulation will be seen in mid-2016, when the proposed EU General Data Protection Regulation (GDPR) will be adopted by the EU.  From mid-2018, if organisations fall victim to a data breach, under the GDPR, they will have to inform their customers when a serious data breach occurs and could be fined up to a maximum of 4% of their global turnover. Worryingly, 68% of business decision makers surveyed have not heard of the GDPR.

Noddle Protect enables businesses to put in place a fast and effective remediation plan to help safeguard their customers who may have had their personal data compromised following a data breach. The service can be available within 48 hours of a breach occurring and consumers who sign up to the service can identify and respond to fraudulent activity, helping them to mitigate any damage to their credit profile caused by criminals. Noddle Protect allows consumers to review their credit report for free and check that no-one else is applying for credit in their name or using their details fraudulently, giving them peace of mind and ensuring they continue to trust in your brand.

More To Explore

Membership

Are you a member of The Payments Association?

Member benefits include free tickets, discounts to more tickets, elevated brand visibility and more. Sign in to book tickets and find out more.

Welcome

Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.

Having trouble signing?

We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.

First things first

Have you set up your Member account yet? If not, click here to do so.

Still not receiving your auto-login link?

Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.

Please click the button below which relates to the issue you’re having.

I didn't receive an e-mail

Tip: Check your spam

Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association

Tip: Check “other” tabs

Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.

Tip: Click the link within 60 minutes

For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.

Tip: Only click once

The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.

Tip: Delete old login e-mails

Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.

Tip: Check your security policies

Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.

Need to change your e-mail address?

For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.

Still got a question?