Data security threats are becoming a larger and larger concern for major institutions, especially in the M&A and deal making space, but there’s a lack of clarity on how to prepare for these threats and combat them when they come up. We polled 152 professionals to get some answers.

1. Poll: Data Security Threats in 2016

2. Data security threats are becoming a larger and larger concern for major institutions,
but there’s a lack of clarity on how big the threats are and how to fight them.
We polled 152 business and legal professionals to get some answers.
These are the results.

3. 85.4% of respondents believe that the
threat of cyber attacks has increased in
the past year.

4. One in five respondents reported that a
cyber attack has already affected their
company’s bottom line.

5. Among those, the majority come from
M&A-related professions. This reflects
recent trends of hackers increasingly
targeting deal information.

6. 65.1% of respondents said their
institution has increased cyber security
measures in the past year.

7. However, only 42.8% of respondents
have received cyber security training.
This is especially alarming since the
majority of security breaches can be
traced back to current employees.

8. Additionally, despite the widespread use
of email hacking against businesses,
only 31.6% of respondents believe that
email is not secure.

9. With mounting data security risks across the boards, it’s essential for businesses and law
firms to do more to combat data breaches. This means adopting secure communications
and document sharing programs, tuning up security infrastructure, and training employees
in cyber security best practices.
Only with an institution-wide approach can companies avoid significant threats to their
bottom line.
Click below to learn more about Firmex virtual data rooms for M&A deals, law firms, and
corporate data sharing.

10. Thanks for reading and sharing