In today's data-driven world, data breaches are increasingly (and alarmingly) common.
HBO's leak in early August resulted in more than just a few Game of Thrones episodes being leaked, with thousands of the company's private internal documents stolen.
The healthcare sector, in particular, has been riddled with breaches recently. Medicare's data available for sale on the dark web; BUPA's international data breach affecting 20,000 Australians; and a breach at Anthem Health Insurance in the US could have serious implications for customers. It's also important to note that both BUPA and Anthem's breaches were due to the actions of staff members.
In fact, take this frightening statistic:
60 per cent of data breaches are due to human error.
Meaning 60 per cent of all data breaches are avoidable.
So here are the three reasons why businesses can't afford NOT to invest in privacy training.
1. FINANCIAL IMPACT
Recent changes to data breach notification laws see companies facing fines of up to $360,000 for an individual breach and $1,800,000 for companies. To avoid this, it is imperative for businesses to educate their staff from top-down to ensure their stakeholders, customers, and staff are not put at risk.
2. BRAND IMPACT
With more and more incidents of data breaches occurring, be it through malicious acts or human error, a company’s brand and integrity are at risk, which can be highly damaging to an organisation.
3. DATA USE
Being able to leverage data insights is a competitive advantage for organisations, but it’s vital for that data use to be compliant. Having highly skilled and trained staff in this area is pertinent to ensure business strategies are not impacted by gaps in security measures.
Read our case study on privacy training to see how education can help protect your business.
Contact our education team on 02 9277 5400 or via email today.