Poor regulation was one of the principal reasons for business data breaches, an industry expert has said.

Alexei Lesnykh, business development manager for endpoint data leak prevention software solutions provider DeviceLock, revealed that previously, low pressure to comply with business and consumer data security were the main reasons attitudes were so lax among companies.

Even among vertical industries where data security was paramount, such as financial institutions and government agencies, data breach reporting was not high enough.

“Another reason is that organisations in other industries do not feel this pressure and have not yet really suffered from data leaks,” Mr Lesnykh said, adding that this makes firms believe the risk of financial and reputation loss from insider originated data breaches is low.

Mr Lesnykh pointed out that the situation has changed now because as of April 6th 2010, organisations can be fined up to £500,000 for serious breaches of the Data Protection Act.

A recent Devlock survey found that one in three IT decision makers is still failing to deploy any form of data leak prevention, including device control.

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