57% most concerned about damage to corporate or brand reputation
68% unaware of EU General Data Protection Regulation
20 April 2016: Cyber risk research carried out by Noddle Protect and YouGov* amongst senior decision-makers in large businesses, has revealed that 51% are being kept awake at night by the threat of a data breach caused by a cyber-attack; and 49% are having sleepless nights about a data breach resulting from data theft or irresponsible action.Noddle Protect, which launches today, is a data breach solution from Callcredit Consumer Markets, which helps safeguard businesses from the reputational damage of a data breach and safeguard consumers’ digital identity.
Loss of reputation a bigger concern than fall in share priceIf businesses were to fall victim to a data breach, 57% say their biggest concern would be damage to their reputation, ahead of a loss of customers (17%), fine by a regulator (8%) or fall in share price (7%).
“Managing strategic risk and reputation has become a high priority for executives operating in today’s digital plc,” said Jacqueline Dewey, Managing Director, Callcredit Consumer Markets. “Noddle Protect can help safeguard businesses from the reputational damage of a data breach and safeguard consumers’ digital identity,” she continued.
Businesses prepared for a data breachA significant 81% of business decision-makers say their business is prepared to tackle a data breach compared to 12% who say they are not.
In order to protect themselves against a data breach, 53% say their business has put in place a business continuity plan, whilst 43% have a crisis management plan; but only 39% have put in place a security monitoring team and only 38% had appointed a board director with responsibility for IT security such as a Chief Risk Officer or Chief Data Officer.
Low awareness of proposed EU General Data Protection RegulationChanges in EU data protection law mean all organisations at risk of a data breach need to be prepared to safeguard their consumers.

The biggest impact on regulation will be seen in mid-2016, when the proposed EU General Data Protection Regulation (GDPR) will be adopted by the EU.

From mid-2018, if organisations fall victim to a data breach, under the GDPR, they will have to inform their customers when a serious data breach occurs and could be fined up to a maximum of 4% of their global turnover. Worryingly, 68% of business decision makers surveyed have not heard of the GDPR.
Noddle Protect enables businesses to put in place a fast and effective remediation plan to help safeguard their customers who may have had their personal data compromised following a data breach.

The service can be available within 48 hours of a breach occurring and consumers who sign up to the service can identify and respond to fraudulent activity, helping them to mitigate any damage to their credit profile caused by criminals. Noddle Protect allows consumers to review their credit report for free and check that no-one else is applying for credit in their name or using their details fraudulently, giving them peace of mind and ensuring they continue to trust in your brand.
ENDS
Notes to Editors*All figures, unless otherwise stated, are from YouGov Plc.

Total sample size was 281 decision makers in large businesses.

Fieldwork was undertaken between 14-21 March 2016.

The survey was carried out online.
The information in this statement is intended for journalists and media professionals only.

The information should not be construed as a financial promotion under the Financial Conduct Authority’s (FCA) Handbook of rules and Guidance.
Further Information:Amy BhavraPress OfficerCallcredit Information Group0113 826 6845/07557 162 990amy.bhavra@callcreditgroup.com
Mary WhenmanInterim Communications DirectorCallcredit Information Group0113 826 6030/07855 130 510mary.whenman@callcreditgroup.com
About Callcredit Information Group www.callcredit.co.ukCallcredit Information Group specialises in database marketing solutions, credit referencing and software analytics and fraud, and is an expert in managing consumer data for businesses across every sector.

The Group is structured into four divisions, Credit Solutions, Marketing Solutions Software, Analytics and Fraud, and Consumer Markets.

Callcredit focuses on developing innovative products and services across these divisions to help businesses make smarter and informed decisions throughout the customer lifecycle.
Founded in 2000, the Group includes the UK’s second largest credit reference agency (CRA) and employs approximately 1,000 professionals across Leeds, Kent, Bath, London, and Warrington and also has offices in Japan, China, Dubai and Lithuania and agents working across international markets.
In 2014 Callcredit was acquired by private equity business, GTCR.
In a first for UK consumers, in 2011 Callcredit launched Noddle (www.noddle.co.uk), the free-for-life credit reporting and scoring service with no hidden fees or 30-day trial periods, which now has more than two million customers.

This service helps individuals to check their credit report and credit score and protect against fraud and identity theft.
Noddle ProtectNoddle Protect is a data breach solution from Callcredit Consumer Markets.
It helps to safeguard businesses from the reputational damage of a data breach and helps safeguard consumers’ digital identity.