Data Privacy Day 28 January 2018

Data Privacy Day is on Sunday 28 January, an international effort to empower individuals and encourage businesses to respect privacy, safeguard data and enable trust.

Data theft has rapidly become one of the world’s most prevalent crimes with billions of dollars being lost each year through credit card fraud, identity theft and scams.

IBM recently announced the average cost of data breach to Australian businesses in the Ponemon Institute’s 2017 Cost of Data Breach Study: Australia 2017. They reported that while the cost of data breach continues to decline,  it will still cost companies an average of $139 per compromised record.

This amount is comprised of $79 in indirect costs, including abnormal turnover or churn of customers, and $60 are direct costs incurred to resolve the data breach. Last year’s per capita cost was $142 per compromised record. The average total organisational cost of data breach is in decline.

This year, the average total cost to organisations decreased from $2.64 million in 2016 to $2.51 million.

For many companies, the cost of suffering a cyberattack is enough to take the business down entirely, so it has never been more vital for all organizations to invest in their cyber defences.

The new digital ecosystem presents a wide range of complex security and privacy challenges. For a document and records management strategy to work, it needs to provide flexible, user-friendly ways to store and access records and data.

With International Data Privacy Day just around the corner, now is a good time to take stock of the measures and processes companies have in place to ensure secure information destruction.

Compu-Stor are experts at designing information management systems that both meet the needs of individual businesses as well as compliance with all state and government legislation. 

For further information on how Compu-Stor can assist your business, please feel free to contact us on 1300 559 778, or fill out our online enquiry for here. We will respond to your enquiry as soon as possible.