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It’s no secret that in today’s economic environment businesses have to be selective with their operational investments. Often times it seems that if a program isn’t able to show an immediate increase in revenue, it’s the first to be cut. But there’s one area where it’s always important to invest and that’s information security.
With the cost of a data breach estimated at over £2.2 million per incident1, organisations simply can’t afford to overlook the importance of robust information security protocols and procedures. In Shred-it’s fourth annual Security Tracker survey, nearly a quarter of both SMEs and large companies said they had never conducted an audit of the protocols they have in place.
Overlooking information security won’t save money in the long run. Often, the costs incurred from regulatory fines, litigation, fraud and most importantly, the reputational damage that can result from a data breach, far exceed the cost of implementing a simple information security protocol.
For these reasons, check out the Small Actions for Big Wins Information Security Checklist. The checklist outlines the most commonly overlooked information security practices to help businesses easily and affordably protect themselves from information theft and fraud.
You can download the Small Actions for Big Wins Information Security Checklist here.
Many business leaders don’t know that one of the biggest sources of fraud comes from within the business itself. As a result, they often overlook key areas of vulnerability.
This year, to mark International Fraud Week, we’ve indentified the top five most vulnerable areas within an office. The goal being to set business leaders up for success, so they can easily protect themselves and their customers.
The top five most vulnerable areas include:
As businesses move to improve employee satisfaction, productivity and work-life balance, there has
been a significant shift towards remote working arrangements. In fact, the UK has seen a significant
increase towards remote working arrangements within the last decade. In the last five years to 2013,
there was a 13-percent increase in people working from home, according to a survey by the TUC2.
While many employers recognise the positive effects of a flexible work programme, business leaders
should be aware that this trend could have adverse effects on information security. Organisations
need to be wary of allowing confidential information to leave the workplace and ensure all staff are
mindful of data security risks when working from home.
Implementing preventative measures specifically for remote workers will help to safeguard an
organisation’s physical and digital assets. A well-understood information security policy, which
includes remote working requirements, helps companies to address the extra risks associated with
mobile working by ensuring that their information security protocol extends beyond company walls.
From encouraging staff to return confidential documents to the office for safe and secure disposal,
to outlining best practice with respect to handling corporate devices such as laptops and mobiles,
businesses need to provide clear rules to help employees maximise their productivity while also
protecting sensitive information.
For tips on the mobile workforce, please visit the Shred-it Resource Centre for more information. You can also stay informed with Shred-it on Facebook and LinkedIn or you can follow us on Twitter at @Shredit_UK
Our pick of recent high profile data breaches and their impacts:
Ministry of Justice – This government ministry was fined £180,000 over serious failings in the way prisons in England and Wales have been handling people’s information. The penalty follows the loss of a hard drive at a prison in Wiltshire. The drive was not encrypted and contained confidential information about 2,935 prisoners, including details of links to organised crime, health information, history of drug misuse and material about victims and visitors3.
Worldview Limited – The hotel booking website was fined £7,500 over a security breach involving its website that allowed hackers to swipe the full payment card details of some 3,814 customers. The unidentified attacker exploited a SQL injection flaw in Worldview website to access the firm's customer database4.
Swale Council - Swale Council has suffered a data protection breach where the emails of roughly 2,500 residents were released in the public domain breaking the Data Protection Act. The council is expected to be fined in line with similar breaches that have taken place including the breach at the Isles of Scilly Council5. Kent Online reports that the accident caused the information to be shared on a message advertising an e-billing system. The emails were delivered in batches of ten, with each comprising of around 250 contact details.
Shred-it is a world-leading information security company providing information destruction services that ensure the security and integrity of our clients’ private information. The company operates in 170 markets throughout 18 countries worldwide, servicing more than 300,000 global, national and local businesses. For more information, please visit shredit.co.uk.
Fill out the form or call 0800 197 1164 to start protecting your business today!