Many countries of the world, both developed and developing, are accessing the internet and technology for development and growth. The increased access of everyone across every information has led to privacy concerns and data protection. As the technology has advanced, the number of cyber-attacks and information theft through malware has increased. However, the physical thefts have not decreased either. In every scenario, the perpetrators are mostly from within the business or belong to third parties. Whatever the situation may be, it is the responsibility of the companies to ensure data protection and security to confidential information from any leakage. On failing to do the necessary, severe action by the state can be taken against the responsible individuals and groups.

When it comes to securing sensitive information, certain pieces of advice must be followed on critical areas of importance. The state-of-the-art reports suggest that the reasons for weak information security are within the industry boundaries. Most of the information leakage and breach in data occurs due to human errors and frauds. Besides these obvious reasons, multiple significant factors increase the risk of data loss and theft.

Both small and large businesses are the targets of the infiltrators in every part of the world. Large businesses suffer financial and reputational losses undeniably. The reason for the rise in attacks on small businesses is the misinterpretation of not being attacked for information theft. Hence, small businesses apply zero effort in securing their business information.

The owners must understand and imply every single data protection policy in their offices. Each employee working within should know their roles and responsibilities regarding the safety of information.

Well, the industries must not lose hope and tighten their seat belts for an entire roller coaster of information on securing data and protecting privacy.

Table of Contents

Overview

According to industry reports and assessments of companies, information security issues that impact businesses are addressed frequently. Many business firms have reported not considering information security a priority. Corporations have now started to ponder on the prevention of information security breaches and measures to be adopted for preventing future incidences. A study of 2012 by a paper shredding company provided interesting insights on information security policies and procedures adopted by small businesses in developed countries. These insights are really helpful for other organizations to learn a lesson from their security breach incidences. Organizations have started to share the key findings of different surveys and demonstrated that all businesses must adopt and enact security privacy policies and protect their companies Data from security threats. The reports also emphasize the critical areas for securing sensitive information such as-secure disposal of unwanted electronic media, training of staff, accountability of working members, and supply chain information security. As there are many areas to focus upon when it comes to security and protection of information, the tips and best practices provided at the end will help in developing a 360° approach for securing information.

Business security scenario

Despite reports of information security breaches in major companies of the developed countries, organizations in the UAE and Gulf are still getting targeted for sensitive information loss.

It is easy to turn a blind eye and become proactive with information security if your firm has never experienced data loss or cybersecurity fraud. On being targeted, the financial, social, reputational losses can be severe. When it comes to the security of the business information and private details, firms should become extra cautious with the transmission of data and avoid information sharing with wrongful people and groups.

The most common practice for securing the document files and electronic media containing private information is to destroy them cautiously and prevent threats of theft. Companies must take information security seriously and make it a priority because on failing to do so, the financial impact, loss of customers, employee disengagement, loss in competitiveness can severely affect the growth of your business.

What happens in the USA Businesses?

A 2013 security assessment report by a shredding company in the USA threw light on what the businesses of all sizes were doing to protect their company’s reputation and customer details from identity theft and fraud. The common finding of the survey was that most of the businesses were out of information on protocols of information security and policies enacted by the state for data protection. Most American and Canadian businesses did not have enough information and neither did they understand the protocols that must be followed by every worker. Around 23% of small businesses in America informed that they were slightly unaware or completely uninformed about the legal systems for data storage and disposal of data files. Whereas only 1% of the businesses were completely unaware of the requirements for a business. The 41% of the large businesses in America ensured that they had security policies introduced in their business and the employees were fully aware of the procedures and accountability. Around 40% of small businesses accepted that they did not have any security protocols for data protection and prevention of data breaches.

What happens in the Canada Businesses?

The reports from Canadian companies were also similar. Around 22% of small businesses in Canada informed that they were slightly or completely unaware of the legal requirements for storing confidential data in their offices. Whereas 40% of small businesses accept that they do not have proper protocols for information security. Around 6% of large businesses are aware of the protocols for storing and disposing of the data. While a majority of businesses, around 57% of large businesses have security protocols in place and an understanding of the legal policies. Only 35% of large businesses in Canada accepted that the workers were aware and followed the policies of the company for storing and disposing of confidential documents. The 46% of small Canadian businesses also followed the same pattern.

Besides establishing policies and following the legal protocol for the storage of sensitive information, many businesses in America did not provide proper and regular training to their staff on their roles and responsibilities. Around 10% of small businesses and only 16% of large businesses confirmed on staff training twice a year. Around 34% of small businesses never trained their staff and 40% of businesses trained only as per the need. Around 24% of large businesses in Canada provided training to the staff twice a year while only 6% of small businesses provide training twice a year.

What happens in the Gulf Businesses?

The Proofpoint firm has revealed that in 2019, around 82% of the UAE companies have experienced atleast one cybersecurity threat and 51% of the firms reported multiple data breach incidents.

29% of the 150 CSOs and CSIOs polled in the survey believed that account compromise would be a long lasting reason for cyber security threats in UAE over the next few years. The 28% people believed that Distribute Denial of Service (DDoS) is major cause for threats, followed by phishing at 19%.

The impact of these thefts are severe. Losses are observed at every level- 29% financial loss, 28% data breaches, 23% customer base loss. The common mistakes committed are believed to be- weak passwords (29%), poor management of sensitive data (25%), phishing attacks (24%), and click-baits leading to malicious links (20%), and 20% believed that insiders from the companies were a major threat. 39% said that employees make the business vulnerable to cyberattacks.

Taking notes on these serious threats, 75% of the CSOs trained employees twice a year and only 23% trained thrice a year.

What they must do?

To ensure effective enactment of security policies and to assign the roles and responsibilities, every company must have a security officer to see if everything is in place. Many large American organizations have seen an increase in the Absence of data security issues managers. Small American businesses did not designate a security manager for years while large businesses were also without a responsible head for data security issues.

The American and Canadian businesses do not take data security as important as they should. The increasing targets on small businesses have however made them more alert. The financial impact remains a big reason to take crucial steps for effective information security.

The

A very thoughtful practice for preventing a data breach is to improve awareness and take strict actions against perpetrators. Every working employee should be aware of the data management policies and their roles and responsibilities during an incident of a data breach. More than writing down the security policies on paper sheets, the implementation, and enforcement of the procedure is more crucial.

Each company should evolve with time and the advancement of technology. Adopt technology not just for increasing revenue and business growth but for providing cybersecurity to the network of data management. All business sizes must try to win the trust of the customers and employees that are involved with them. It is compulsive and ethically mandatory for every firm to abide by the legal policies and enact them with full honesty.

Figures and Stats

The average cost of a data breach was $5.4 million in 2012 which has significantly grown over the last few years. Whereas the perception is that 55% of Canadian businesses believe that data breach doesn’t impact their business seriously.

Companies in Canada, around 44%, belonging to large and small businesses, believe that destroying hard disk will make their data disappear.

22% of small businesses have no awareness of legal requirements on data security and management. They have either little information or no information about disposing of confidential data.

57% of the businesses on a large scale have adopted security protocols that are not communicated to their employees nicely. 40% of small businesses do not have any policies in place.

Only 24% of large businesses trained staff twice a year on information security policies and the consequences. Only 6% of small businesses trained their staff twice a year.

33% of small businesses never provided any training, while 44% trained only to fulfill the needs of the business.

45% of small businesses have no responsible head for managing data security and issues based on it, while 19% of large companies were deprived of a managing head for security of data.

Large businesses, around 15%, had experienced a $500,000 loss due to a security breach experience. One of the reasons for such huge losses could be that 44% believed the data was irretrievable from the hard disk.

A similar trend of poor information security management was observed in the USA.

Focus point

Businesses continue to have grave concerns about the protection of confidential data, although, many reputed large and small businesses have taken appropriate steps at the right time to protect themselves against any data breach.

For instance, businesses in North America at all levels are just unaware of the consequences of stocking electronic media in their offices. Private information and its storage in any format bring massive vulnerabilities and risk of security for their organization. Liability increases and responsibility too. Companies store the devices containing confidential data in the cupboard and table drawers or at their homes. Often people underestimate the possible consequences if a data breach occurs and pieces of electronic devices are lost.

There are multiple challenges in ensuring that sensitive documents are well protected and safeguarded. The small and large US and Canadian businesses followed the destruction of electronic devices for securing their businesses. Only 22% of the C suite businesses in the US destroyed the devices completely, compared to 18% of small businesses. Only 18% of large businesses in Canada destroyed the hard drives and electronic media containing devices, whereas 14% of small businesses followed the protocol.

The major problem with these states is the unawareness and ignorance of the forms. Canadian businesses and workers are uninformed about the practice of effective destruction and prevention of data recovery after destruction.

In short, only large businesses seem to be aware of their responsibilities and took the security job seriously. Small businesses have various loopholes and underestimate the risk of theft at their premises due to their small size. Undoubtedly, most of these companies are putting themselves at risk with and without their knowledge. The worst part is that the customers are at risk that are the valuable assets for any business.

The destruction of electronic media that contains confidential data should be effective and secure with permanent deletion. Some of the steps to be taken care of while performing the destruction task are:

  • Destroy memory sticks, hard drives, photocopier memories, and similar devices
  • Take help from a third party that tackles the security aspect and issues a certificate of destruction when the electronic media are destroyed
  • Gift yourself peace of mind by ensuring effective data destruction

Make a list of the electronic media that are vulnerable to theft threat such as-

  • The hard drive from old Laptops, desktops, and more
  • Magnetic tapes, memory sticks, mini-cartridges
  • Floppy disks, CDs, DVDs, Blu-ray, HD DVDs zip disc

Only appropriate destruction of confidential data can impact a company’s reputation. Take precautionary measures to prevent any client or financial loss.

The supply cycle

Businesses should not overlook that awareness remains the priority in an organization’s supply chain. Both the small and large businesses might be leaving the doors of danger open for clients and themselves by keeping their business partners unaware of information security protocols. All the third parties and associated members of the supply chain do not have the same policies as yours. It is necessary at this point to take cautious steps and prevent sensitive information without compromising the business.

Here are some best tips that every business should consider while exchanging information with other parties. Ensure that the members of the supply chain are also abiding by similar guidelines regarding information security. Ask yourself these questions:

  • Does the partner in the supply chain have a commitment towards information security?
  • Are they aware of the legal requirements?
  • Are they meeting contractual security requirements?
  • What procedure and policies they adopt for maintaining security?
  • Does their information policies align with your company policies?
  • Have they ever been subjected to a data breach?
  • If they have been subjected to a data breach, how they got over it?
  • What were the losses they suffered?
  • Are their employees well-trained in information security management?

Best Practices

Both small and large businesses can adopt small baby steps to ensure security to a great extent.

Why information destruction process is necessary?

Information security is the key aspect of any organization in developed and developing nations abiding by state privacy policies. For any business to do good, confidential data protection is exercised 24/7. Each workplace should follow the standard practice of protecting documents. There is always the risk of theft from malicious insiders and outsiders, hence, destruction is the best policy for preventing any later losses.

Chain of custody

Every business has the responsibility to care for their customer and employee data and keep it protected from unwanted usage. Always receive the certification for destruction at the end of the process to provide the proof to the associated partners. This also means that the businesses have fulfilled the state policies and stood strongly in favor of protection.

The safe environment

The industries that lack awareness often end up on the legal web. Devising proper policies and enacting them is essential for keeping up with the legal requirements. It is critical for businesses to implement training programs and management schemes for documents. Each individual must be trained rigorously to prevent any financial repercussions and reputational losses. The staff should be consciously aware of their responsibilities and liabilities. They must realize why information security is important and how to maintain its regulation. To reduce the susceptibility of potential data loss and breaches, regular internal assessments for security performance must be conducted under the supervision of a security officer.

Get rid of electronic media first

While following the security guidelines, don’t overlook the old electronic devices lying here in there in the office. The unwanted and less used information hard drives, software, memory sticks, magnetic tapes, CDs, DVDs, the floppies should be immediately collected and securely destroyed in a safe environment. Often, after destruction, the data can be retrieved. Hence, ensure that the information is permanently lost and the equipment is completely destroyed.

Information security can be a habit

The security procedures and protocols must be simple to follow and convenient for employees. Private cabinets with lockers must be provided in the cubicle of every worker to ensure individual responsibility for protecting the documents. By enabling a safe Storage Space, most of the documents can be safeguarded. Every business should have secure containers at specific locations in the office. The unwanted documents must be dropped in those containers when not required. These files must then be destroyed with the help of the third party that issues a certificate of destruction.

Assess the security leaks

If your business has a huge supply chain that includes lots of individuals and third parties and sharing of sensitive information is necessary for business transactions, then you must take extra precautions. By creating a wholesome security policy that includes the business partners and suppliers, you can reduce the risk of thefts and threats.

Hire security experts and IT officials for taking care of the entire cybersecurity system and regulate the information transaction.

Implement the shredding policy

Human error and poor decision making are two of the major causes for unwanted data loss. Implement the shredding policy where the employees deposit the unwonted documents in our security locker. Whenever the locker fills or the time comes for their destruction, they must be shredded completely into tiny bits of paper.

Focus on prevention

Pay most of your attention and budget on the prevention of data breach policies and training of the employees. Once when you check all the possibilities of theft, eventually there would be no chance of data breach. This way, you can save yourself from post theft procedures.

Decide the roles and responsibilities

Choose the right use employees for periodic assessments and security issue checks. Also, make every individual responsible for the devices and documents that they handle. Give general guidelines on network login passwords and conducting training. Strategically adopt security approaches with third-party professionals for complete assurance.

How EndoShred ensures Information Security

EndoShred can be your third-party security partner since we meet every challenge that any organization can face with the growing amount of private data. With the latest and advanced information security services we ensure to protect your documents, build trust in your customers, and enhance your business.

We at EndoShred provide all the possible solutions for safeguarding the data, enhancing the reputation, and connecting more customers to your company. Partner with us to experience the management of confidential documents in simple and easy ways.

What do we provide?

  • Destruction of electronic devices like hard drives, compact discs, memory sticks, and other material having confidential data
  • Shredding of private information containing documents into tiny bits in a secure environment

How we assist in compliance with privacy laws?

When you decide to partner with us, you make the best decision. The methodology adopted by us is completely regulated according to the privacy laws.

  • We provide highly secured locker consoles for depositing confidential documents.
  • The trained professionals shred the confidential files in your organization in the securest way.
  • A certificate that guarantees 100% safe destruction is provided at the end of the process.
  • Anyone from the office who is reliable is welcome to watch the process happening on-site.

Benefits of partnering with us

  • Get rid of unwanted confidential files in the most secure manner.
  • Get awarded annually for following environment-friendly guidelines.
  • Save yourself from the mess of legal proceedings.

Why choose us?

Well trained officers for shredding

We have considerable experience of shredding for the companies in UAE. We are leading in this industry of information security due to the expertise we offer. The trained and well-informed officers execute the task of shredding documents on the spot/office premises. They are well-uninformed and know their business quite well. They shall collect the locked consoles and carry them towards the shredding truck. The entire process is done in a secretive way. You are welcome to watch the destruction happening.

All-rounder services

For us, it doesn’t matter if you are a small scale or a larger scale business. We consider document security as the primary concern. Any document or data that needs shredding, would be done by us with utmost dedication and sincerity. We have won the trust of hundreds of customers across the nation. The continued excellence in services that we provide makes us unique from the rest of the shredding companies.

Customer-friendly experience

We are 100% committed to serving you in the best possible ways. Our work is serious while our staff remains friendly at the same time. We take your permission and time to execute the processes of shedding. Our customers have had a very pleasant experience in the past. Due to the friendly behavior of our workers, the working environment becomes friendly too.

Ease in customization

We offer customers the services they wish to avail. There is a wide choice between the services that we provide. You can get rid of the documents, get rid of the electronic devices or the hard disk containing confidential data in very simple steps. Choose any of the shredding methods according to the data you wish to get rid of.

Schedule the shredding

We are just a call away. You can choose any date and any time as per your convenience and schedule. We send the shredding trucks to the workplace whenever required. The volunteers along the truck are available as per your need. You can book the date and time whenever you feel the need to get rid of the confidential trash.

Sources:

All of the statistics provided (unless otherwise stated) are from the Shred-it 2014

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