Do you know the real cost of having poor printer security? A new report released by global market insight and research firm Quocirca reveals the current concerns.
A startling new report launched by Quocirca reveals that up to 60% of business organisations have been subject to a date breach due to poor printer security in the past year.
Even more worryingly, the extent of the damage to companies from this has also been uncovered. The firm suggest that as a result of poor printer security, companies could find themselves experiencing financial losses on average of £313,000 per year.
Industry Wide Concerns for Printer Security
Quocirca also included a business wide survey within their study. They found that 73% of organisations are either concerned or are very concerned about the risks involved with printer related data breaches. As a result, 77% of those asked said they are currently looking to increase spending on printer security.
Whilst printer security breaches are said to only comprise of 11% of security breach risks posed to businesses, concern is growing throughout the industry that workplace printers and other digital devices do not have strong enough security in place.
Expanding further, potential causes for printer security breaches occurring mainly consist of security related accidents caused by employees.
However, closing parts of the report from Quocirca indicate that organisations are more alarmed by the possibility of malware and data viruses affecting their printer security overall.
A Potential Lack of Printer Security Maturity?
Speaking more on the data collected, Quocirca Research Director, Louella Fernandes explains:
“Our research consistently shows that businesses remain reliant on print, but the way it is used is changing. Print infrastructure is vulnerable to all the threats associated with internet of things devices but also to risks linked to hard copy output.”
Fernandes continues: “The number of print-related breaches reported by the organisations we surveyed is concerning and the lack of security maturity shows that businesses can and should do more.
With the financial, legal and reputational consequences of data breaches escalating, printer security is intrinsic to an organisation’s security posture and a risk that should be managed at boardroom level.”
Half of UK Businesses Confident in Combatting Cyberattacks
The points raised by Fernandes follow findings made in August last year that state that only half of UK businesses can combat cyberattacks.
A link between the concerns of poor printer security and a lack of cybersecurity skills in organisations is a clear one – only 22% of employers were training their existing staff in cybersecurity when the report was first released.
Businesses and firms are beginning to act on cybersecurity flaws however. It is said that up to 55% of UK businesses now run training programmes that focus on acquiring cybersecurity skills for entry-level employees.
With the Government’s help, Dominic Harvey, Director of CWJobs, now hopes that businesses can make a concerted effort to direct new resources into current gaps in cybersecurity and printer security commenting:
“It’s really encouraging to see the government listened to the concerns of the tech industry and responded by putting in plans to upskill the next generation of tech employees.
This is not only important for the UK to keep pace globally, but so that businesses and organisations can be adequately prepared in the event of a cyber security attack for instance.”