Read the latest thought leadership and industry news from the experts at Gimmal!
The Financial Industry Regulatory Authority (FINRA) fined Wells Fargo, RBC Capital Markets, LPL Financial and others a total of $14.4 million for a records management problem. This risk and compliance issue may have allowed company and customer records to be altered.
An article on the Office 365 blog highlights five overlooked threats to your email security that can cause substantial compliance risk. All too often, easily preventable breaches occur because of either a poor process in place or simple carelessness by an employee. However, there are times when no matter how vigilant, a hack can occur. The five threats below are ones which may have been overlooked and should jump to the front of your mind to avoid becoming a victim of a breach.
The Identity Theft Resource Center (ITRC) released a report for the breaches within the last year. The numbers are unfortunately staggering and present major compliance risk for businesses in nearly every industry.
"Digital Workplace” is a hot buzzword right now, and leading analysts are working to define what the term means. Practitioners and real-world implementations, however, will ultimately define best practices, the success and limitations of digital workplaces that manage unstructured content, information, and data. With 80% or more of the average organization’s information managed as unstructured content, this area has been a critically important but somewhat unmanaged part of the equation for a successful digital workplace.
A report from Kaspersky Lab finds that a staggering 73% of companies had internal incidences last year, mostly caused by poor or inadequate training. This is certainly distressing news from an information governance perspective. Let's dig in to the numbers a little more and talk about some ways to combat this problem.
Data is hacked and stolen every day, causing a compliance risk nightmare. The Ponomen Institute estimates that data breaches cost companies an average of $174 per record. On top of the initial financial impact, organizations are often held liable and subject to legal and regulatory penalties.
According to a survey, legal departments are becoming more like business units including hiring operations managers, increasing budgetary control and implementing information governance programs to decrease compliance risk.
When it comes to cybersecurity and regulatory compliance, several factors come into play. First and foremost, the human element is important to consider. Basic best practices such as strong and continually changing passwords and ensuring the security of your wireless networks are essential. Also, creating an overall regulatory compliance plan that is understood by all parties.
The Identity Theft Resource Center (ITRC) released a report for the breaches within the last year. The numbers are unfortunately staggering and present major SharePoint compliance risk for businesses in nearly every industry.
Cyber intrusions or hacks are generally seen as the domain of the IT department, however it is critical that the general counsel be involved in the creation and execution of the data governance risk and compliance strategy. In fact in a recent survey of 450 companies, 31% of respondents stated they rely on IT, while 21% said they rely on general counsel to be primarily responsible for compliance after a data breach.