Encryption will soon change from a “might do” to a “have to”. TBE contirbutor CIS explains why.
So what’s happening here?
You’ve heard it on the radio, you’ve seen it in the news. With the recent high profile cyber-attack on telecoms giant Talk Talk, following those on businesses such as British Gas and the Ashley Madison dating site, the security of stored and transmitted data is once again topping the media agenda.
What’s perhaps surprising is the lack of reaction from a sizeable proportion of businesses, which despite the constant torrent of hacking news stories, persist with outdated and insecure practices when handling valuable data in their everyday work tasks. However there’s about to be a real sea of change with the introduction of EU data protection regulations next year, which will place a legal duty on everyone who holds electronic data concerning EU citizens to implement appropriate security measures and to have a clear data protection policy. There will be punitive sanctions for non-compliance.
The New EU Data Protection Regulation
In March 2014, the European parliament voted by an overwhelming majority in favour of legislation to protect the security of its citizens’ data. The resulting legislation is due to come into force in 2016 with penalties of up to 100m Euros or 5% of annual turnover per data breach.
Why your business should be concerned
Whatever the size of your business, a significant loss of personal data represents a catastrophe of mammoth proportions and proves terminal for many. As well as sanctions imposed under this legislation, there’s the cost of notifying anyone whose data has been compromised and the subsequent loss of customer confidence and reputational damage to the business. Whilst ‘traditional’ crime figures continue on a downward trend, cybercrime statistics are rising dramatically. No MD or business owner wants to find themselves in the position of the Talk Talk CEO who had to announce to her entire customer base that all of their personal information was now potentially in the public domain.
CIS are hosting free seminars in 2016 discussing the new EU Data Protection Regulation to ensure your business is prepared. To register your interest and to find out more call 01367 700555
To find out more about CIS visit: www.cisltd.com