No Longer Optional: Invest in Data and Information Security Now or Pay Later 

Shred-it’s 2021 Data Protection Report Reveals the Need to Protect Data Has Never Been More Important

With security threats on the rise and the average data breach costing $9.05 million,1 North American businesses, large and small, can no longer consider data protection and security an optional investment. The 2021 Data Protection Report (DPR) reveals critical insights and recommendations to improve data security practices.

Read the report to:

  • Uncover digital and physical security risks facing businesses
  • Gain access to valuable recommendations to address information
    security deficiencies
  • Improve your company’s data security reputation

Source: 1. Ponemon Institute, IBM Cost of a Data Breach Report, 2021.

Download Full Report

Submission Error - Please Refresh and Try Again

This field is required

Please enter a valid value

This field is required

Please enter a valid value

This field is required

Please enter a valid value

This field is required

Please enter a valid value

This choice is required

*I would like to receive Shred-it email updates*

This choice is required

Approximately four out of 10 business leaders rate the risk of an attempted data breach in the next 12 months as a ‘4’ or ‘5’ on a 5-point risk scale, with ‘5’ being the highest risk. This may leave businesses unprepared, as more than half of businesses surveyed don’t have an incident response plan.

Data security reputation plays a strong role in consumer perspectives and behaviors. Consumers continue to take their information security very seriously and will take action if their data is compromised—50% will switch to a new brand after one bad experience.

While malicious insiders and outsiders are sources of data breaches in many cases, ‘trusted’ insiders are as likely to have been the source. Forty percent and nearly 25% of data breaches are caused by external partners and employee error, respectively.

Approximately four out of 10 business leaders rate the risk of an attempted data breach in the next 12 months as a ‘4’ or ‘5’ on a 5-point risk scale, with ‘5’ being the highest risk. This may leave businesses unprepared, as more than half of businesses surveyed don’t have an incident response plan.

Data security reputation plays a strong role in consumer perspectives and behaviors. Consumers continue to take their information security very seriously and will take action if their data is compromised—50% will switch to a new brand after one bad experience.

While malicious insiders and outsiders are sources of data breaches in many cases, ‘trusted’ insiders are as likely to have been the source. Forty percent and nearly 25% of data breaches are caused by external partners and employee error, respectively.

Industry Insights

Healthcare workers in a hospital

Healthcare

financial worker

Finance

professional working

Professional Services

insurance professional with client

Insurance

real estate agent showing home

Real Estate

Fast Facts

Impact of Data Breaches Too Large to Ignore

Large businesses in Canada were more likely (42%) to cite damage to their reputation and credibility, as compared to their U.S. counterparts (27%).

Despite Policies and Training, Employees Struggle to Put Learnings into Practice

Approximately half of North American business leaders (U.S. 49% and Canada 53%) indicate that the lack of understanding of the threats and risks to the organization is the biggest barrier to employees followed by information security policies.

Consumers are Concerned about Their Data Remaining Confidential

Nearly 1 in 4 North American consumers indicate that companies fall below their expectations for timely, transparent communications regarding data leaks.

Businesses Indicate Sustainability Is an Important Factor When Choosing Who to Do Business With

Ninety percent of businesses prioritize environmental sustainability when sourcing a partner.

 

 


In compliance with the American Disabilities Act Amendment (ADAAA), Accessibility for Ontarians with Disabilities Act (AODA) and other state or province accessibility laws and regulations, if you use a screen reader and need help with this website or have feedback or inquiries about accessing material on this website because of a disability, contact Accessibility@stericycle.com or 800-697-4733.

Shred-it is a Stericycle solution. ©2021 Stericycle, Inc. All rights reserved