In this month’s SC Magazine, AlertSec CEO Ebba Blitz talks about why we’re so passionate about data security. For small and medium-sized businesses that are so critical to the success of industries such as healthcare or financial services, our encryption service is not just about protecting the sensitive data they handle every day. It is also about ensuring that a silly mistake like a stolen laptop doesn’t risk putting them out of business.
AlertSec’s most recent survey found that 46% of people admit to leaving their laptop vulnerable to a cyber security threat: leaving laptops in the car or in checked-in luggage, or ignoring software security updates. But that casual behaviour carries a huge risk. The latest research by Ponemon and IBM suggests the total average organizational cost of data breach is now $7.35 million.
New data protection regulations are coming into force, imposing new responsibilities and increasing fines. This can feel daunting but it’s imperative not to ignore these regulations.
Read below more information about GDPR and NYCRR 500 regulations. Simple compliance measures such as having an incident response plan, extensive use of encryption and employee training actually reduce data breach costs. Make sure you are using AlertSec’s service to not only encrypt your own company laptops but also to protect your network of third-party partners. Working together we can help to protect the precious resource of entrepreneurs and SMBs.
GDPR (General Data Protection Regulation) is a strict data protection compliance regime with severe penalties of up to 4% of worldwide turnover. This new EU regulation extends the scope of EU data protection law to all foreign companies processing data of EU residents.
‘NYCRR 500’ is the New York State Department of Financial Services (DFS) cybersecurity regulation. Specifically for financial services companies, these rules affect businesses within New York City, and also apply if you provide a service to these industry firms as a vendor or on a contract basis.
Compliance requires organizations to have the right systems in place for the security and encryption of stored data. In the next editions of SecureNews we will provide more details to help you understand your responsibilities.
If you have any questions about compliance, contact our help desk team.