Many Small Businesses at High Risk For Information Security
Thu 23 Jun, 2011 // Chris Allan
A recent report has revealed that small businesses are particularly relaxed when it comes to information security, with an estimated 50 per cent risking significant data loss in the workplace.
The report, commissioned by on-site document destruction company, Shred-it, uncovered the staggering figures, despite recent enhancements in the realm of data security procedures for businesses.
In April 2010, the Information Commissioner's Office (ICO) gained powers to fine companies up to £500,000 for serious breaches of the Data Protection Act. However, despite intentions to implement stronger data security in businesses, the development influenced just 4 per cent of surveyed companies to change their policies on information security. 58 per cent of respondents revealed they weren't even aware of the ICO's updated guidelines.
In light of survey results, Shred-it's Executive Vice President, Robert Guice, said: "Ignorance is no defence in the eyes of the law and UK businesses need to wake up quickly to the fact that failures to store and dispose of confidential information in a secure manner could have far-reaching and potentially financially damaging impacts upon their operations."
Mr. Guice added, "As a company owner or manger, understanding your legal obligations in view of the Data Protection Act, and developing policies and procedures to comply with them in a consistent and reliable manner is absolutely essential."
However, hefty misconceptions also played a massive role in the report's findings: the survey showed that an estimated 50 per cent of small businesses in the UK believe that the loss or theft of data from their organisation would have no impact on their company – meaning half of UK small business owners are disregarding risks of data security and data loss.
In response to the findings, Chief executive of the Forum of Private Business, Phil Orford, said: "It’s time companies got wise to the seriousness of data theft and the importance of protecting their information. Quite apart from the implications for the commercial viability of a business, failing to secure data properly could lead to a potentially huge fine."
He added, ‘It might be tempting to push issues like this under the carpet, but that would be a grave mistake."
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