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What is your duty to co-operate with your regulator?
Zoe Beels
Businesses are under attack on a daily basis and the problem is getting worse. That, in essence, is the conclusion of PWC’s annual Information Security Breaches Survey. The average cost of the most severe online security breaches for large businesses now starts at £1.46 million – up from £600,000 in 2014. For SMEs, the most severe breaches can now cost as high as £310,800, up from £115,000 in 2014. Yet, despite this, most organisations do not plan on spending more on information security over the coming year.
If an organisation loses your personal data, would you expect them to tell you about it? The media’s appetite for reporting stories of laptops lost on trains and cyber criminals’ ever more sophisticated hacking techniques is a reflection of the increasing importance of data security to consumers and corporates alike.
Whether you were watching Jools Holland, the fireworks or out on the town on New Year’s Eve, I imagine that when the clock struck midnight you joined millions of others in celebrating and later proclaiming your resolutions for a healthier 2015. You may have even decided to do ‘Dry January’ or, as I like to call it, Dryer January.
Any organisation that handles and captures customer or employee data, whether it be on a server, in a cloud or even on a usb stick, needs to follow the appropriate data protection laws in doing so or it can face heavy penalties.
Following the frank admission by the Dutch Minister of Security that a law firm, Prakken d’Oliveira, had been under surveillance for years by the Dutch secret service, a question was raised in the European Parliament last week concerning the apparent tolerance by the EU of secret surveillance of legal communications and the steps which would be taken to ensure that Member States respected lawyer-client confidentiality.
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