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MALICIOUS INTENT OUTWEIGHS TECHNOLOGY AS BIGGEST THREAT TO PERSONAL DATA

Apricorn, the leading manufacturer of software-free, 256-bit AES XTS hardware-encrypted USB storage devices, today announced results from their latest social media poll which found that sixty five percent of respondents believe that humans pose the biggest threat to their personal data.

 

Against the backdrop of a complex and growing cyber threat landscape, organisations are waking up to the fact that one of the biggest chinks in their armour against a data security breach is humans. In fact, a staggering fifty two percent of respondents believe that people with malicious intent present the biggest danger, whilst thirteen percent believe that unintentional human error is also a risk. In stark comparison, just thirty five percent of those polled see technology as a threat to personal data.

 

Worse still, twenty percent admitted they have breached corporate policies around data protection, with a further thirty four percent admitting they don’t even know of a policy within their organisation. Not only does this highlight the frequency and willingness of employees to breach corporate policy, but it also demonstrates the lack of awareness and education around corporate data security. There is a real need to strike a balance between policy and engagement in order to help prevent carelessness, and the dangers posed by uninformed staff.

 

Jon Fielding, Managing Director, EMEA Apricorn, commented: “The findings of our poll show that businesses have good reason to be concerned about employees contributing to cybersecurity risks. Whether staff are making unintentional user errors, or compromising data with malicious intent, business data and systems are at risk. The most dangerous aspect of insider threats and human error is the fact that the access and activities are coming from trusted users and systems, and can very easily go undetected if organisations are too complacent in their approach to data security.”

 

The Apricorn poll also found that over a quarter (27%) of respondents admitted that they had either lost, misplaced or had a device stolen containing sensitive corporate information. Organisations should incorporate and enforce information security policies, procedures and, ideally, encryption on all mobile devices, be it laptops, mobiles or other removable media. It’s not enough to simply have an IT security policy in place, but staff need to be educated about the policies, and the importance of data security, to help mitigate these risks. IT security should also be enforced through technology, such as end point control only accepting corporately approved and encrypted devices for example.

 

“Educating employees in the value of the data they work with will help to build a culture of accountability, within which, keeping data safe becomes second nature to employees at every level. Employees are an organisation’s biggest asset, but they can also be their biggest liability”, Fielding concluded.

 

Any data breach has the potential for huge reputational damage and financial losses, and with GDPR now in full force, organisations must ensure they monitor how data is processed, stored, retrieved, protected and deleted in order to remedy any shortcomings and ultimately avoid a costly data breach. Organisations need to establish and maintain even basic level security to avoid the associated risks posed by insiders, malicious or otherwise.

 

Attracting 12,527 responses, the Apricorn Twitter poll was conducted during the week of 18 February.

Jon Fielding will be speaking at the upcoming Infosecurity Europe event taking place at Olympia, Hammersmith, London, from 4-6 June 2019. Jon will be hosting a strategy talk on ‘Understanding & Leveraging GDPR Regulations to Justify IT Security Spend’ on the 5th June, from 15:20 – 15:45 –https://www.infosecurityeurope.com/en/Sessions/75446/Understanding-Leveraging-GDPR-Regulations-to-Justify-IT-Security-Spend

 

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Business

STOP THE CONFUSION: HOW TO KNOW IF YOUR BUSINESS MAY BE INSURED AGAINST COVID-19

COVID-19

By Alex Balcombe, Partner at Harris Balcombe

 

The last few weeks has seen businesses in hospitality, tourism, retail, leisure and more forced to close their doors following the Government’s orders that they should close to prevent the spread of coronavirus.

While this is expected to flatten the curve and reduce the number of coronavirus cases, it will of course have an impact on businesses and employees alike.  For small businesses especially, there are many concerns about how they can claim on their insurance to weigh the fall of this impact.

 

Mixed Messaging

In response to calls to help struggling businesses, the Government has informed the public that companies who are facing turmoil will be able to claim on their business interruption insurance during this difficult time. For most, this is wrong.

Alex Balcombe

The insurance industry has also been extremely vocal that there is no cover for any coronavirus-hit businesses during this tough financial period. This isn’t strictly true either.

How can businesses see through the mixed messaging and best secure their future and their livelihoods and reduce money worries? It’s an extremely stressful time for many companies, and confusion over whether or not they can be covered can only cause more unnecessary stress.

Since it’s a new disease, most businesses will not be covered for business interruption due to COVID-19. In fact, the vast majority of policies do not cover anything related to COVID-19.

That said –  don’t rule out the idea that you may be covered. There is a chance that you will be covered against COVID-19, but not know it. This is a very small chance, but your current cover may already protect your business against the consequences of coronavirus, and the nationwide response to it –  though those with this cover are unlikely to realise it.

 

How Could I Be Covered?

Not everyone has business interruption insurance, as it’s not a legal requirement. It is entirely up to the policy holder to weigh up the benefits of having it, and their ability to trade should a disaster happen.

To be considered for cover for COVID-19, there are two types of policy extensions to your business interruption cover that can potentially cover you for this situation:

Infectious Disease Extension 

Many policies expressly state which diseases fall within the realm of being an infectious or notifiable disease. If this is the case, your policy will not provide cover. As it is a new disease, these policies will not have included COVID-19.

Other infectious disease extension policies will define the disease with reference to the actions of the government. Since the UK Government has named COVID-19 as a notifiable disease throughout the UK, it is possible that your business may fall into this definition, thus meaning you may be able to make a claim.

However, again, it’s not always that simple. Many policies require the disease to have been on your premises, while others specify a radius from your premises in order to qualify.

 

Denial of Access Extension (non-damage)

Denial of Access Extension (non-damage) policies may cover you if you’re prevented from accessing your property. This could be due to an event, or by the actions of a competent authority, which could cause your business interruption cover to engage.

If covered by this clause, there are often very subtle differences in wording in your policy. This could depend on the insurer or policy. You may well be covered, but it will depend on your particular circumstances, and the specific policy wording.

 

What now?

It’s clear that the Government needs to do more in ensuring there is clear messaging for businesses, and to help the insurance market look after policy holders. This is an unprecedented situation, and with many people looking to claim on their insurance, we’re already seeing major delays which could have a domino impact.

People throughout the world are understandably facing all kinds of worries because of the current pandemic. Our ways of living have changed, and many business owners will not have experienced a situation like this in their life times. If you own a business and are unsure about whether you can claim for business interruption, or are confused about ambiguous wording, get in touch with a loss assessor.

These claims are not simple, but loss assessors will be experts in business interruption insurance, and will specialise in large and complex claims. They will be able to help and guide you along the way, check your wording and work on your behalf to make sure you get everything you are entitled to.

 

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Wealth Management

HERE’S HOW YOU CAN LEARN TO TRADE RISK-FREE DURING THE COVID-19 MARKET CRASH

COVID-19

Trading app BullBear has launched new features to support budding investors looking to hone their skills against the backdrop of the COVID-19 stock market plunge. The risk-free financial game aims to empower the next generation of investors to learn how to trade stocks and shares by playing with dummy chips as opposed to real money. The app updates come as investors pull back from a volatile stock market rocked by the coronavirus outbreak.

 

At a time when some fresher investors are experiencing their first-ever stock market crash and seasoned investors are reluctant to invest new capital in the market, BullBear is empowering a whole new cohort of traders by teaching them how to trade effectively at no risk.

 

App users can engage in both short-term and long-term trading games using real-time market data from popular stocks enabling them to build investing confidence, making the app both engaging and educative.

 

With over 35,000 downloads, the app provides a free, fun way for thousands to learn how trading works by offering a practice arena in which trades take place and where no real money can be lost. Users can also enter into duals and competitions with other players. Whilst the app incorporates dummy chips to invest with, players can still redeem prizes by winning ‘bulls’ when they rank high in games. These bulls can be used to redeem rewards, such as gift cards from retailers like Amazon, Apple, Google Play and Netflix, at the in-app store.

 

Co-founder of the BullBear app, Anurag Saboo, stated

 

“I realised just how lacking the support for young investors was when my cofounder and I wanted to invest some money in stocks whilst at university. We had no idea where to start and so spent a couple of months trying to find a platform through which we could learn the basics before we risked any cash. But it simply didn’t exist. The resources that did were dull and theoretical. Paper trading can be very boring, and no-commission trading helps only if you make money out of your portfolio. Social methods of learning can help, for example, Etoro’s copy trades, but they still don’t let investors explore the markets themselves before putting money down. Combine this with the fact that only a small percentage of young investors make money through the market, and others end up staying away or are pushed away through losses, we decided to launch BullBear to offer a free, fun alternative.”

 

During a time of crisis accompanied by a turbulent stock market, the BullBear app provides a fail-proof way for budding investors to develop their trading knowledge, helping them to make more informed investments.

 

The BullBear app is available to download now on Google Play and the App Store.

 

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