Data loss and breaches – How the COVID-19 crisis is impacting the world of data loss prevention

Data Loss Prevention

Firmly in the grip of a public health crisis, UK companies are seeking new ways to conduct business. Streamlining of processes has led to increasing awareness of process flows and what is needed to make improvements. This includes the thorny issue of data protection and loss. Could the COVID-19 pandemic have a positive influence?

With the easing of lockdown restrictions in England came the news from EasyJet that details of 9 million customers had been hacked. It sent several messages to companies large and small, but one clear message was that hackers were not letting a global health pandemic limit their hacking targets.

And there’s another issue – employees working from home and accessing potentially sensitive data away from the watchful gaze of both manager and data protection programs. Trust is a huge factor, but when an employee can abuse that trust, it places the company in an awkward position.

The responsibility of protecting company data

No matter where your employees work from and no matter how temporary or flexible this arrangement, as a company, the responsibility to protect sensitive company data lies with the business.

And so no wonder that in the middle of the crisis, companies large and small are seeking new ways of monitoring who is accessing what data and when, as well as why.

The data loss prevention (DLP) market – companies that develop solutions and collaborate with clients to protect data on and off-site, including remote working – is set for exponential growth.

The Pre-pandemic value of this thriving industry was a healthy $1.2 billion, a figure that is expected to increase to $3 billion and beyond by 2025. – and keep on rising.

Increasing visibility and spotting ‘insider theft

There has been an increase in the amount of data theft happening within some companies. The sensitive nature of data loss and breaches mean that certain companies chose to keep this information under-the-radar.

But that doesn’t mean they are not dealing with it internally. Data loss prevention programmes are bespoke, allowing companies to spot high-risk ‘internal threat-actors’. These people access and download a lot more data than is considered the norm. They may work longer or unusual hours and use information that is not relevant to their day-to-day role.

Finding the balance with bespoke cyber security

There is a question of balance, however. When does surveillance cross from healthy to ‘spying’? When does monitoring become deceitful, invasive and underhand? Bespoke cyber security solutions need to deliver protection but in a way that is transparent, balanced and compliant with the relevant regulations (such as GDPR). A good DLP programme will combine layers of controls across people, process and systems.

If you would like to discuss about data loss in your organisation, then why not get in touch on +44 203 603 4733 or email us at info@three-two-four.com.

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