In a recent blog that we posted earlier this month, we told you that only 9% of your IT spend for next year would be on Security Software, given that yesterday another major security cyber-attack hit the headlines with Talk Talk experiencing what has been described as a “significant and sustained cyber-attack” – you may want to re-evaluate that one!
We already know that 2014 was a big year for security breaches, however, 2015 is catching up fast, and we still have two months to go. The latest malware infestation that is stealing your bank details off your PC/Laptops is one of the many concerns for IT users the world over. A recent study by the National Crime Agency has warned us that the UK has already been subjected to approximately £20 million in stolen money from our bank accounts. This has actually been caused by a simple piece of malware!
We also can’t ignore all the personal data stolen from companies, such as Ashley Madison; these are your details. So we have to ask the question: is business’s data security doing enough to protect your personal details and information? Every time you make an online purchase, someone gets all of your details. We are becoming easy targets for ‘cyber scammers’ because the police deem it to be a soft crime as no-one actually gets physically hurt. So if these guys get caught, they get a couple of years in jail, where traditional bank robbers who use guns or violence get a more severe sentence!
So what is the answer? Well the good news for consumers is from 2017 there is a new data protection law that come into place. The changes have been designed to improve internet consumer data protection, and if you don’t comply then companies at fault will be heavily penalised.
If you don’t sort your data security out in the next 12-24 months, you can expect the following:
- Fines of up to £80 million or 5% of your annual income – of course, they will take the larger amount.
- We will have an individual right to complain – the legal profession will be delighted!
- The enforcement regime will begin.
- Tighter rules around data usage and marketing.
- Huge fines and a simplified compensation process.
Unleashed don’t believe in scaremonger tactics we believe in providing solutions to problems – so we believe by putting basic good practices in place can help you in the following areas:
- Avoid fines
- Meet industry regulation
- Achieve legal compliance
- Avoid bad press
- Protect your customer/client data
- Protect your financial data
- Protect staff data
- Protect corporate IP
So what is the first step towards putting these practices in place? – simple, encrypt your data! For more details, get in touch and we can advise you on the best way forward.
One last thing to remember – 2 years is not very long to think about all the changes you have to make. A few areas you will have to look at, encrypting data, changing websites, changing contract terms/conditions and privacy statements. If you start to take action now, you will have an advantage when the new changes come into place. In the long run, it will save you money and your companies reputation.