€100m investment at the fraction of the price

Jun 23, 2014

With news about data breaches and privacy continuing to claim regular columns in newspapers and analysts discussing the risks about handling big data, you may be wondering what the fuss is all about. But, if you start to look more closely at the level of risks involved, you could be easily thrown into a sea of panic or confusion, especially if you handle customers’ data as part of your business. The new EU data protection legislation looming over the horizon really does mean that doing nothing is no longer a wise option as the consequences of a breach will be significant.  

As the results of the recent EU elections show, people are starting to have stronger views on various aspects that directly influence their daily lives with no fear of choosing what they think suits them. It might only be a matter of time before people choose to do business only with those vendors who they truly trust, the vendors who are able to assure new clients on their ability to deal with customer data securely backed by evidence and certifications. As with credit checks carried out by banks, customers may soon have options to run checks on businesses they are considering dealing with, perhaps using ratings based on the number of data breaches or complaints. A tech savvy society that has learned from previous breaches might soon start challenging businesses on how their data is managed or refuse to hand over anything they consider valuable.. With the advent of social media and the speed and ease of sharing, one data breach could be all it takes to topple a business.

The successful business of the near future could be one that is proactive about cyber security with a reputable independent validation of its claims to be data secure. Having competent personnel to review your processes will give you a view of your world from the eyes of an attacker, highlighting the weak spots that could be exploited.

Remember: Not knowing about your responsibilities is no longer an excuse for poor data management practices or a data breach.

To find out more about how to keep your data secure, contact us