In-house privacy budgets may be seeing a dramatic increase as organizations look to safeguard against the regulatory and public scrutiny associated with data breaches. On Tuesday, FTI Consulting released a new report, titled “Future Proofing Corporate Data Privacy,” which indicated that many respondents were prognosticating a serious hike in privacy-related spending potentially directed toward underfunded initiatives such as employee training.
The FTI survey is comprised of responses from 500 leaders working inside large, U.S.-based companies, 97% of whom indicated they would be increasing their spend on data privacy over the next 12 months, with an average increase of 50%. Additionally, one-third of respondents indicated that they would be increasing data privacy budgets by a factor of between 90% and 100%.
