How to Stay off the Data Security Naughty List

Posted 4 December 2019 11:18 AM by Torey Hunt
Client Onboarding Checklist

Client Onboarding Checklist

With news of data breaches dominating the headlines, consumers are left wondering who they can trust with their personal data, and rightly so. When it comes to data protection, many organizations have been naughty, not nice.

According to Risk Based Security research published in the 2019 MidYear QuickView Data Breach Report, the first six months of 2019 alone saw more than 3,800 publicly disclosed breaches exposing an incredible 4.1 billion compromised records.1

Enterprises of all sizes need to get their data security act together. Stay out of the headlines—and off the Data Security Naughty List—by safeguarding your firm’s sensitive data, no matter where it lives. Read on for four helpful resources on the topic.

Get Ready for CCPA

Unlike Santa’s slow wiggle down the chimney, the California Consumer Privacy Act (CCPA) is advancing at top speed. Dubbed “California’s GDPR,” CCPA will take its maiden voyage on January 1, 2020. Even though the deadline quickly approaches, only half of U.S. businesses are expected to be CCPA compliant by January 20202. Are you at risk of noncompliance? Avoid fines weightier than Santa’s sack of toys. Read if (and how) your organization will be impacted.

GET THE INSIGHTS

Protect Overlooked PII

With GDPR in full swing and CCPA soon to follow, even the jolly man in red can’t keep up with shifting data privacy regulations. (Santa collects a lot of sensitive data, after all.) At the North Pole, Santa and his elves rely on magic to find all the data ever created. But most organizations are merely mortal. Even large enterprises with robust data protection policies struggle to identify and protect every source of personally identifiable information (PII) in their systems. Read how to safeguard the sensitive data that most can’t easily detect, and neglect to protect.

KNOW MORE

Address Contract Risk

For most financial service firms, contracts are like the brussel sprouts of a holiday meal—more of a burden than a benefit. With vast volumes of contract documents duplicated across fileshares and repositories, many organizations struggle to address contract-related risk. To realize the full potential that contract documents represent, organizations must treat agreements as a source of risk and intelligence. Read the article to avoid three common contract analysis mistakes that prevent organizations from leveraging the strategic value of their contracts.

AVOID THESE MISTAKES

Safeguard Sensitive Data

Clients trust insurers with highly sensitive personal, financial, and health data. Breaching that trust is like sneaking raisins into their cookies or replacing their gifts with a big lump of coal. And, like Santa’s sleigh on December 24, news of a data breach travels far and wide. Don’t let unstructured data, the Grinch of data protection, bring a business-altering data breach to your doorstep. Protect your most vulnerable client data. Read how.

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Take-Home Lessons

Consumers and regulators demand that enterprises get their data security act together. With more than 80 percent of data hiding in unstructured formats, most enterprises struggle to detect—let alone protect—their most vulnerable data. To safeguard sensitive data in all its forms, organizations must adopt a solution that’s more robust than Kris Kringle himself. Otherwise, they could find themselves with a big lump of coal in their stocking.

Related Reading

The Reality of Sensitive Data Protection in Financial Services (Infographic)
DPR One Year Later: How Are Enterprises Faring (Article)
Identify, Analyze & Manage Data-Related Business Risks with Adlib Protect (Solution)

References:

1Forbes: Data Breaches Expose 4.1 Billion Records in First Six Months Of 2019
2PWC: Many US businesses doubt they will meet California privacy law deadline

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