Survey finds complacency on intellectual property protection

DataSecurityTNA new survey by Woolcott Research and Konica Minolta has found that while 94 per cent of SME business owners are aware of document and data security risks, only 25 per cent address such risks.

A new survey by Woolcott Research and Konica Minolta has found that while 94 per cent of SME business owners are aware of document and data security risks, only 25 per cent address such risks.

Further results from the survey, which canvassed the opinions of 262 senior decision makers in SMEs nationwide, also found that:

  • 98 per cent of businesses believe their security processes are effective in safeguarding their documents but 60% say they are still concerned about document security risks.
  • 70 per cent of businesses believe smart devices are at risk of a security breach of theft of company IP, yet 40 per cent do not have a security policy to govern the use of these devices when accessing company IP.
  • Only 15 per cent of businesses use a cloud server.
  • 50 per cent believe the cloud is a security risk and files are at risk of a cyber-attack.

 Konica Minolta says these figures highlight a high level of complacency among business managers towards protecting their intellectual property.DataSecurityLG

“Security risks include documents left on the printer and falling into the wrong hands, scanned data sent from a Multi-Function Device to an unauthorised smart device or the retention of sensitive IP on printers that haven’t been through the proper process of hard drive removal,” Dr. David Cooke, Executive General Manager, Konica Minolta says.

“Breaches such as these can incur a significant hard cost for SMEs, through legal disputes, a decline in sales and employee turnover, and soft costs such as time wasted in recovery of sensitive information and reputation damage. The hard costs quantified represent over a million dollars a year for SMEs as a group in Australia - but the soft costs can actually be greater and last longer.

“The issue of security isn’t going to go away – if anything, it will get bigger, so it’s important that businesses start implementing security policies across all areas of their business."

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