Recent changes to the UK Data Protection legislation put at risk of fines of up to £500,000, those who ‘knowingly or negligently’ allow personal data to be disclosed.
The integrity and security of data is fast becoming the single most significant security and reputational risk issue facing corporate UK.
The Financial Services Authority 2008 study "Data Security in Financial Services" states 'There is too much focus on IT controls and too little on office procedures, monitoring and due diligence'. It is often the absence or failure of such 'soft' controls that leads to financial loss, reputational damage or the unwanted attention of Regulators.
It is clear the Information Commissioner is taking a more robust approach to the loss of personal data.
Information Lifecycle Management supports good governance, facilitates ediscovery, and ensures legal compliance.