Companies lack resources to meet privacy requirements

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Companies believe keeping their customers' data private is critical to their brand image but many do not have the resources to manage increased privacy rules, according to a recent survey.

The survey, conducted by research firm the Ponemon Institute and data security supplier Vontu, polled 68 large companies with more than 1,000 employees from various industries.

Fifty-six percent of the respondents believe that safeguarding privacy is important to brand image, up from only 36 percent in a similar survey conducted two years ago.

But while 100 percent have a privacy policy for customer data, only 38 percent believe their resources are enough to manage regulatory or corporate privacy requirements.

Only 31 percent have a formal notification process in the event of a privacy breach, despite breach notification laws such as California's, which has been in effect for more than a year.

www.vontu.com

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