Are These Five Myths About Data Security Threatening Your Company?

Are These Five Myths About Data Security Threatening Your Company?

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Are These Five Myths About Data Security Threatening Your Company?

Data protection is always one of the risks I talk about when I talk to people about risk management these days, and the number of times one or more of these five common myths come up worries me more and more. Because of this, many otherwise competent managers are failing to take some of the necessary precautions to manage this risk and ensure the safety of their businesses.

First Myth: ” It’s a matter of IT.”

An invitation to speak with their IT manager, whether within their company or an outside contractor, typically follows this. It is incorrect for the following five reasons:

1. The Human Condition. Although the Information Commissioner’s Office has reported that more than 60% of incidents reported to them in the past two years did not involve any IT failure, it is evident that having the appropriate software to protect your data from hackers, viruses, and malware is essential. Human error was the primary cause of most breaches. Except in those instances where deliberate wrongdoing was a significant component, “error” would be an inappropriate term. This indicates that it is the responsibility of your HR manager rather than IT manager.

Are These Five Myths About Data Security Threatening Your Company?

2. Which IT? It is also essential to keep in mind that the majority of businesses store and/or process data on a variety of different devices in addition to the conventional mainframe, desktop, and even laptop computers. The number and variety of products like tablets, mobile phones, storage devices, and planners are expanding. The majority are outside the control of the company’s IT head.

3. How is the data handled? In addition to the obvious business-related data processing activities, a significant amount of data is distributed daily in a variety of ways, either intentionally or unintentionally. Some will be shared verbally, either in person or over the phone. Some will be written down. If we include everything that comes out of the printer and all of the handwritten notes that we all use, the paperless office is not as common as we would like it to be.

4. Tweet, tweet, We are all aware of how frequently irrational social media posts cause celebrities trouble. We lesser-known individuals must also exercise caution. Even though we may actually use these forms of media in the course of our work, there are times when we blog or tweet about our work or just about our day and end up sharing information or comments that could get us into a lot of trouble.

5. Where does responsibility end? According to law, the owner of the business or whoever is in charge of the business as a whole is responsible for data security. That individual may impose sanctions on employees or others, but the top is ultimately responsible. While the responsibility cannot be delegated, the task can be.

Second Myth: ” It’s being outsourced!

Numerous businesses today outsource a wide range of services. HR, payroll, accounting, maintenance, and even office management are among others. Information technology is one of the most popular. There are a lot of good reasons to do this, but don’t assume it will solve all your problems. Four of them are as follows:

1. The Rules Even though you can outsource the work, you still have legal responsibilities, as stated earlier.

2. Your Picture. If it turns out that a contractor failed to protect the data of your clients or employees, it will likely hurt your reputation.

3. The Uncertainty Overcast. You should ask what it means when someone claims that your data is safe because it is “in the Cloud.” It will be on a computer somewhere owned by someone. How safe does that sound? Is your subcontractor aware?

4. The EU. All personal data pertaining to EU subjects must be stored within the EU or in a system that complies with EU law if it were located within the EU, as mandated by EU legislation. The majority of American businesses do not adhere to EU law, not even officially!

Third Myth: ” It is the issue of the company.”

No matter who or how the data breach occurred, many people at all levels believe that their employer will be responsible for any fines and penalties. It is not for the following three reasons:

1. The Rules If it can be demonstrated that individuals at all levels knowingly disregarded policies and procedures established by their employers to protect data, they may be subject to prosecution, fines, or even imprisonment. Exemptions apply even to former employees.

2. Survival. The business’s profitability or even viability may be in jeopardy in the event that your employer suffers a financial loss or loses business as a result of a data breach. How secure is your job?

3. Your CV If your current or potential employers believed that you were not protecting their data, this could hurt your career.

Myth: False 4: ” It’s an exercise in ticking boxes.”

The Data Protection Acts certainly impose a lot of requirements on everyone, as there are many things we must do to comply with various laws. This is also true of many other laws, including the Health and Safety at Work Act. However, just as I hope you wouldn’t want to be responsible for someone else’s harm or even death, I also hope you wouldn’t want a lot of information about your customers or employees to be misused. There are three additional good reasons to protect data, in addition to the ICO’s authority to prosecute:

1. Civil actions. If clients believed they had suffered losses as a result of your failure to protect their data, you could have been sued for negligence or breach of contract even without the DPAs.

2. Your credibility. If they don’t trust you with their data, you might not want employees and potential customers to know you.

3. the repercussions. If your data fell into the wrong hands, you have no idea what would happen. Who exactly would they give it to?

Myth: False 5: ” Only large businesses can use it.

Although there are distinct legal requirements for businesses of varying sizes and types, there are two things that all business owners and managers must keep in mind:

1. The Rules For losing a customer’s data, any business, even a sole proprietorship, can be prosecuted or sued. In 2012, a sole trader was fined £500 for stealing an unencrypted hard drive from his car, putting 250 clients’ data in danger.

2. Trust. Any business can benefit from the information previously provided about reputation.

Therefore, you need to put the myths behind you and thoroughly investigate the facts, no matter who you are or what kind of business you run. Then consider how you will safeguard your data. Earlier rather than later!

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