A recent study by Veritas Technologies reveals startling facts about the level of preparedness by companies, especially in Germany. While CISOs and CTOs may state their level of readiness being on track, certain fundamental issues are still, scarily, left unanswered. And the leadership is often clueless about this.
Why should enterprises simplify timely provision of data? GDPR requires companies to localize and provide personal data on request to clients and users within stipulated time. But many, if not most, are unprepared. There are many reasons. Missing Processes For Data Classification is one such. What should companies do?
Have you heard of the concept called Design Thinking? Yes? No? Okay. Its evangelists define it as “a proven and repeatable problem-solving protocol that any business or profession can employ to achieve extraordinary results.” Okay. But what does ‘Design Thinking’ have to do with data security? A lot. Really.
Touching lives at every milestone. The Banking and Financial Services Industry is perhaps the only industry that touches lives consistently and Digital Banking enables this. Such digital capabilities also carry immense risk. Just imagine if customer data is lost or stolen. The consequences are familiar.
Have you read the recent article by Warwick Ashford (Security Editor, ComputerWeekly.com) on the settlement that US retail giant Target paid for the 2013 data breach? Well, on records, it summed up to $220 million including legal fees and other associated costs. Maybe more. But what is key is – how did the data get out?