Businesses must be diligent in maintaining their role as trusted custodians of their client’s information. This should be one of the highest priorities within your business.
By building trust and confidence with one of your most valuable assets, clients, it will deliver a competitive advantage that every business must grab hold of.
So, where do you start?
By understanding your Privacy responsibilities, and how you currently measure up against them.
At Privacy Proactive, we offer a free consultation to help you start gathering the relevant data to enable you to weigh up the risks and benefits.
Below are some of the discussion points we start with to get the ball rolling.
1) Does your business need to comply with any Privacy regulations?
Not only may you need to comply with various Australian regulations, but possibly other jurisdictions such as the European GDPR.
Even if your business is not required to comply, client’s still expect their personal information to be protected.
2) Do you know where your businesses personal information is stored?
To protect, you need to know what information you have, where it is located and who has access.
3) Have all reasonable steps been taken to ensure the appropriate level of protection of your personal information ?
You can sleep better at night knowing you have done as much as you can. It may not be enough to avoid a breach but at least you have taken reasonable steps to minimise the likelihood.
4) Are you confident the 3rd parties, who handle your personal information, have taken all reasonable steps to protect it ?
A 2018 survey in Australia, found 67% of business owners are not confident about the 3rd parties protecting their personal information.
Any wonder there is a lack of confidence in the community ?
5) Is your staff fully aware of their responsibilities in handling personal information ?
Since the introduction of the Notifiable Data Breach scheme in Australia in Feb 2018, 35% of breaches are due to human error. This does not include Email phishing which would push it closer to 60%.
6) Do you feel confident your business will not have a data breach ?
A few disturbing facts coming out of recent surveys in Australia :
- 9.5 days (average) between a breach occurring and misuse of credentials. It takes 90 days to detect it. The horse has already bolted by then !
- 53% of businesses have multiple breaches
- 43% of cyber-attacks are SMBs….easier targets, less resistance. Out of those, 22% are now closed.
Then there are undetected breaches…anyone’s guess as to how many of them ?
7) Does your business have procedures to handle a Data Breach ?
Brand can be destroyed in a moment with a badly handled breach.
8) If you have a Data Breach, will your business survive ?
Not only impacting your business but your lifestyle, family, clients and employees.
How did you go with the questions ?
If you have even the slightest concern about managing and protecting your personal information, please contact me and we can have a discussion on how to prepare your business.