In a recent survey of 1,002 UK workers in full or part-time employment by Proband.co.uk. It highlighted that a concerning 44% of businesses in the trades sector had failed to clean their IT equipment of important data prior to its disposal, during the two months following GDPR.
The report also highlighted that an astronomical 71% of businesses in the trades industry do not offer specified protocol for disposing of IT equipment and that 47% of trade industry workers would not know who to approach should they need to dispose of old or unusable equipment.
Despite an abundance of media attention covering GDPR, data protection and the impact of cyber security breaches, the top 5 industries who were most likely to be responsible for this type of behaviour were transportation companies such as those with heavy supply chains and involved in logistics and distribution, sales and marketing businesses, manufacturers, utility companies and retailers.
These results present worrying concerns, especially when these industry sectors are the most likely organisations to handle customer records such as names, addresses, sensitive information and financial data.
How businesses need to shape up in their disposal of IT equipment
Businesses will have to do a lot more to address how they manage information if they are going to survive in the future, especially now that it has been documented that fines imposed on companies and organisations by the EU GDPR will start to come into effect over the next few months. To date the directive has been fairly relaxed on issuing fines in order to allow companies to re-adjust themselves and get their house in order; however, that is about to change.
Future fines issued in two tiers as follows;
Lower Tier: 2% of global revenue or €10-million (whichever is greater)
Higher tier: 4% of global revenue or €20-million (whichever is greater)
For more information on GDPR and how our company can support your business then please contact Crendon Insurance Ltd. We provide the right tools to get you started through our GDPR insurance policy and help companies and organisations to implement procedures to tighten up on how they handle data from the start to finish.
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