08.11.2019

Threats to - and from your data

 Show Interest

Threats to - and from your data

 Show Interest
Threats to your data 

No business can survive without its data!
 
The world's most valuable resource is no longer oil, but data – The Economist – 6th May 2017.  
This means that there must be some safeguards put in place to protect data. A business will find it very difficult to continue without access to its data. This is known as Information Security.  This means that, to be secure, data must be subject to; Confidentiality, Integrity and Accessibility. This is known as the CIA principle.  

Obeying the Law 

Data protection legislation has at its core, the principle of Information Security. This was stipulated in the Data Protection Act of 1998 as Principle 7 - Personal data must be kept secure. 
The Data Protection Act of 2018 that incorporates the General Data Protection Regulation (GDPR) also includes this aspect of data security as Principle 6 – Integrity and Confidentiality.   

Data must be “processed in a manner that ensures appropriate security of the personal data, including protection against unauthorised or unlawful processing and against accidental loss, destruction or damage, using appropriate technical or organisational measures”. 

The amount of fines that can now be levied under GDPR can be up to 4% of global turnover. 
 
Reasons for making your data secure 

So there are 4 major reasons to check that you have robust information security measures in place. The first is to ensure your business has no disruption. The second is that the law states that any personal data that you hold must be protected or fines can be levied. The third is loss of reputation through adverse publicity. The fourth is the risk of being sued by individual customers.  
One of the biggest risks to your data is from cyber-attacks. These are carried out by criminals or governments in order cause disruption or for financial gain. 
A recent case illustrates this, as reported by the BBC on 8th July this year;  
 
British Airways is facing a record fine of £183m for last year's breach of its security systems. The airline, owned by IAG, says it is "surprised and disappointed" by the penalty from the Information Commissioner's Office (ICO). At the time, BA said hackers had carried out a "sophisticated, malicious criminal attack" on its website. 
 
The ICO said it was the biggest penalty it had handed out and the first to be made public under new rules. 
 
Since this announcement, the victims of this breach, the customers may well sue British Airways. This is in addition to the fines that they must pay to the regulator, The Information Commissioners office (ICO). 
 
What can be done? 

A full audit can be undertaken and a risk assessment provided.  
 
Government accreditation can be achieved  

Cyber Essentials 
Cyber Essentials Plus 

This provides evidence to your customers that their data is being handled securely. It is also a useful marketing tool to win business. Bids for new work may well be rejected without this assurance. 

In addition, for SMEs, Cyber Insurance can be obtained at low, or no cost upon evidence of such accreditation.  
 
  • data
  • Compliance
  • GDPR
  • Data Security
  • cyber

30 years experience in IT, Business and Data Analysis, GDPR, Cyber Security, Information Governance and compliance.

Training and Development

Answering that awkward salary question.

The salary isn't stated but the job advert says "excellent package".So what do you say when the interviewer says, "What…
Training and Development

Heed Benjamin Franklin’s advice.

Benjamin Franklin taught us that we cannot improve our lot nor make achievements in our lives unless we continually…
Training and Development

How important is self-motivation?

We can’t keep our careers burning bright unless we keep adding fuel to our motivational fire. We need our working…

More Articles

Information Technology

Xerox considering bid for fellow fading tech giant HP

Xerox is reportedly considering a bid for HP, a move that would unite two fading stars of technology that have…
Accountancy

First six months of MTD made £815m for SMEs

Recent reports claim that small businesses have benefited from making tax digital (MTD) through increased productivity…
Training and Development

Which kind of "What if?" person are you?

“What if? A phrase that has given birth to more accomplishments than any other; yet it is also the great stumbling…

Would you like to promote an article ?

Post articles and opinions on London Professionals to attract new clients and referrals. Feature in newsletters.
Join for free today and upload your articles for new contacts to read and enquire further.

Find the right professionals in London

View The Full Index

Search By:

Submit your Enquiry here

Enquiry Details

Contact Details