For specific IT products, it’s not the FCA’s practice to hand out official endorsements. As such, (and rather unfortunately,) there isn’t a ‘stamp of approval’ to look for when shopping around for tech solutions.But of course, the issue of FCA needs to be a top priority when making those decisions. In a whole range of areas, from storing call records, through to managing relationships with clients, the correct approach involves considering carefully what the specific regulations say, and choosing a product that will keep you on the right side of those rules.
Take the marketing hype at face value and you’d be forgiven for thinking that Cloud Data Storage is the “magic solution” for all your data needs. So how much of this is true?A startup looking to build its infrastructure from scratch or a larger company with an increasingly mobile workforce are just two of the types of business for whom the Cloud might have considerable advantages. But what if your existing on-site provision has served you well so far and you just need an extra boost in capacity? As for your clients, why needlessly provoke security concerns by shifting data off-site if the current way of doing things has worked so far?
If you’re a company who operate under the compliance regulations of the Financial Conduct Authority (FCA) then you need to be aware of your responsibilities when it comes to storing data. Ensuring that all reasonable measures have been implemented in relation to the safety, security and integrity of data is a critical component of your corporate diligence and duty. The FCA making this point abundantly clear on their data compliance fact sheet, available via their website.
Encryption can be a valuable tool in your data security arsenal, delivering a range of benefits to both individual computers and corporate networks alike. Encryption as a concept has existed for millennia. With the use of codes and cyphers to keep messages hidden used as far back as ancient Egypt, Greece and Rome.
Statistically, your organisation is likely to be targeted by cyber criminals at some point - and, of course, building the type of environment to protect you against that threat requires financial outlay. So how much should you be spending - and where should resources be allocated?
Failure to abide by the FCA’s rules on data protection opens up the possibility of being subject to the full range of the Authority’s enforcement powers - the latest details of which can be found here.
Statistics from earlier this year give a picture of how long it takes for UK businesses to recover from a disruptive security breach. A third said it took up to a full day for operational recovery to occur, while a small yet still significant minority said it took considerably longer.
Online security is one of the biggest dangers faced by a business these days with the collective cost to UK businesses reported to be in excess of £34billion annually. And the rise in remote working brings with it an increased threat of data breaches and security risks.
In this article we’ll look at some of the steps your company should be taking to guard against the inevitable attacks that your network will face from hacking and various malware strains.
Getting malware onto your network is more than just a nuisance. The effects can be devastating; causing downtime and data loss.
While the Financial Conduct Authority (FCA) have given their approval for companies to outsource their IT and data storage to third party cloud providers, the consent comes with a number of guidelines, issued to ensure that such providers remain compliant.