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Storing or just erasing obsolete hard drives could cost you millions in a data breach. Let us securely destroy your electronic data.
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The success and failure of financial service businesses relies largely on the organisation’s reputation and integrity. Both consumers and corporate clients expect service and performance built on a foundation of privacy, confidentiality, and information security.
And yet, according to Trustwave Global Security Report, up to 14% of global information breaches occurred in the finance and insurance industries,1 resulting in the theft of everything from card track data to financial credentials.
With numerous high-profile breaches, how financial institutions collect, store, and destroy confidential information is coming under increased scrutiny.
of all UK businesses reported a data breach incident to the ICO in the last 12 months
Source: Atomik Research (May 2020)
The average global cost of a data breach in financial services is
– the second highest of any industry
Source: 2019 Cost of a Data Breach - Ponemon Institute
of security incidents within the financial sector are caused by employee failure to follow company data protection policies
Not everything you collect, store, or handle is digital. When financial forecasts are printed, or agendas are circulated, they are at risk of falling into the wrong hands if they are not handled and disposed of securely.
For that reason, every financial business is at risk of an information breach regardless of size, type, or location. Especially seeing as 24% of all data breaches are caused by employee error or negligence .
In an industry that relies on privacy and confidentiality, the reality is that many information breaches happen not because of inferior firewalls or passwords, but because of employee error or poor judgement.
With a quarter of your risk coming from inside, you need to ensure your staff know how to identify, handle and securely dispose of confidential information – whether that information is digital or in paper form.
Financial institutions of every type collect some of the most sensitive, private, and confidential information there is. What happens to that information when it is no longer needed, can become the source of an information breach!
If you create, collect, or dispose of these types of documents, you and your organisation could be at-risk of an information breach.
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Schnell Financial Group
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Northwestern Mutual Financial
"Very professional. The easiness of tossing papers into the bin.
Not worrying about me shredding tons of paper. You are doing the work for me."
Mustard Seed Financial
Since the introduction of the General Data Protection Regulation (GDPR) in 2018, reported data breaches have surged by two-thirds, resulting in significant fines and subsequent reputational damage .
41% of UK consumers claim they will never return to a business that has had a data breach . Ensure GDPR compliance, avoid fines and protect the reputation of your organisation with our world-class paper shredding and data destruction services.
Fill out the form or call 0800 197 1164 to start protecting your business today!