7 June 2022

It has been recently reported that the European Union has harshened its measures against countries which have not yet reached the standards requested in enforcing the fight against Cybercrime. In the world of business and in general, we have seen an increase in the efforts to regulate the collection, processing and correct storage of data to further protect data subjects. Data is recognised as a valuable commodity and as a result it has become an attractive and profitable target for Cyber Criminals.

Examples of cybercrime in the world of global businesses are rife and as a result, more and more persons are becoming aware of the risks and the serious repercussions. Businesses heavily depend on the data collected and processed through their operations. They set future strategies based on such data and this makes it a priceless and essential asset. Having said this, it is important that this data is properly safeguarded, both for the sake of good business and to protect the information about the data subjects.  

One must keep in mind that cyber criminals are experts in the field of IT and are hardly deterred by harshened penalties for their misdoings. Cybercrime has always been a crime just like any other and historically this has not discouraged any criminals from committing their wrong doings. Even if some cyber criminals have been apprehended, the vast majority remain at large. Phishing emails are relatively easy to produce and these experts know that most of their efforts are untraceable by authorities. It is therefore of utmost importance that protection levels are kept on close check and safeguards be constantly updated to meet the demands of protection and possibly keep one step ahead of cyber criminals.

The starting point to ensure optimal protection for your data is to follow closely guidelines and regulations arising from GDPR legislation. We always advise and help our clients to figure out and become aware of their weak points. This may be achieved by carrying out assessments of your current state of security and subsequently create ways to prevent being attacked through those points.

Ensuring security is a dynamic exercise which needs monitoring and frequent checks. Training the employees who process client data is also an essential exercise to enforce cyber security. It is always advisable to keep independent backups of all data.

We recommend using the help of professionals in the field of Cyber protection especially if your business is dependant on digital assets. This will keep you abreast of the increasing sophistication of cyber criminals and changing legislation.

At Advisory 21 we can help you understand better the legal requirements you are bound to observe by law and thus avoid breaches, theft of data by cyber criminals and hefty fines imposed by the authorities. We offer services which will help you understand the risks of Cybercrime and how this may affect your business. We can show you ways how to minimise these risks and keep compliant with GDPR.

The importance of being GDPR compliant is not just about Cybercrime however. Most data breaches happen by accident and most times as a mistake of individuals within your own organisation. The truth is that to err is human but these errors may prove very costly and may indeed dent your business in such a way as to make it unable to operate.

If you think that your business needs better protection or if you want to ensure that you are fully compliant with GDPR legislation, contact us and we will discuss how we may help you through several solutions we currently offer as part of our services portfolio.

In the meantime 21 Academy is also planning to help in training a strong workforce to protect businesses against cybercrime. We will be announcing new projects in this field in the coming months.