The consequences of data breach may not only signify loss of millions to a business organisation but may mostly impact the business element when it comes to relationships with its clients.
A serious data breach leads to grievous consequences
This could be evidenced by the recent shutting down of the offshore law firm Mossack Fonseca as the media siege that revolved around the organisation not to mention the collapse of its reputation as well as the aberrant activities on behalf of Panamian authorities have totalled in what the company itself has termed as “an adverse business environment”, leading to its ultimate decision to cease all operations. This news comes almost two years after the organisation was catapulted in the spotlight when it was revealed that it served as the kernel of the Panama papers investigation breach, which linked more than 214,000 offshore entities to some of the world’s most powerful and corrupt people including 12 current or more Heads of state, 140 politicians and led also to the resignation of the Icelandic and Pakistani Prime Ministers at the time. …
May 2018 is round the corner. Is your company ready for the implementation of the General Data Protection Regulation (GDPR)? Who is in control of the processing of personal data in your organisation?
The GDPR contains all the necessary demands regarding the collection, storage and usage of personal data. This means the identification and security of personal data in your systems but also the accommodation of transparency requirements, detection and the reporting of personal data breaches and training privacy personnel and employees.
If an organisation is still finding difficulties how to go about this, it would be wise to consult with a data protection authority and conduct a detailed privacy impact assessment, especially if the processing activities in question are pretty high risk. High risk activities are those that rely on new technologies and are inclined to result in high-risk impacts when it comes to the rights and freedoms of individuals. Activities that require large-scale processing and automated evaluation of the personal features of data subjects are likelier to be considered high risk. …
According to the 2015 Insider Threat report, 59 percent of cybersecurity experts consider privileged users of access to sensitive information as the biggest security threat for their organisations.
Whilst most users do take the necessary precautions to protect and secure the information in their computers from others who might access it, when the computer is not for personal use but is a company one, the dangers of external threats and their repercussions are even greater.
Most companies need to think ahead and take decisive action when it comes to monitoring and controlling privileged user access as this is an imperative solution to securing reliable protection. …
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