Resources for Federal Financial Institutions Examination Council (FFIEC)

Survey Reveals Weak Compliance

www.byteandswitch.com

Kroll Ontrack®, a leading provider of data recovery products and services, today announced the results of a global survey* that showed that many companies fail to include data recovery as part of their companies’ compliance policies, potentially opening themselves up to dire business consequences. Despite the fact that 78 percent of respondents believe that data recovery is the most important component of a compliance plan, only 50 percent say it is part of their company’s compliance policy.

Regulations such as SOX, HIPAA, PCI, FACTA, etc., make it clear that companies have a responsibility to protect data and make significant attempts to retrieve data that has become compromised or lost. For a company, the consequences of non-compliance can be severe, potentially resulting in financial penalties, reduced stock value, loss of customer confidence and lost sales revenue. With that said, it is surprising that 46 percent of respondents said they were not sure if their company even had a general policy to comply with the applicable regulations.

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