Data Loss: is your Business Protected?

The recent controversial Wiki-Leaks publications have yet again highlighted the potential dangers flowing from unauthorised data loss. Whether loss is caused deliberately (where data is stolen) or carelessly (e.g where it is left in a cab), the repercussions for businesses can be severe. There is no such thing as a loss-proof strategy. This is largely because no matter how secure the system, human action or omission is often to blame for loss. Worryingly, this appears to be on the increase. A report by KPMG (KPMG's Data Loss Barometer 2010) shows that the cause of data loss by malicious insider incidents has increased from under 5% of total incidents in 2007 to over 20% in 2010. Given all of that, businesses need to develop bespoke risk management strategies to prevent loss (in so far as possible) and to minimise damage caused by loss (in the event it should occur). The implementation of robust strategies can help prevent or at least minimise financial and reputational damage flowing from data loss. The sheer volume of data retained by businesses, and number of ways in which it can be retained, sent, received and accessed only serves to multiply the risk. Depending on the sophistication of the method of misuse, the source of unauthorised data loss may not always be readily identifiable, although given enough time and resources can often be traced. In developing a risk...