Business Centre Break-In and Data Protection
If your business experienced computer theft, would the data you hold be safe?
The recent break in at Chichester Enterprise Centre is, sadly, one of many that happen daily across the UK. But this is more than an unfortunate inconvenience for the businesses based in the building. The implications can be astronomical. When computers are stolen data is immediately put at risk. Following the new General Data Protection Regulation (GDPR) legislation that came into force in the UK in May 2018, businesses and organisations, big and small, have an obligation to keep data safe.
Your obligations under GDPR
The introduction of GDPR saw the most important change in data protection law in 20 years. With it came new obligations and duties which organisations of all sizes are required follow to keep data safe. So, what do you need to do if your business ‘computers get stolen? How safe is the data stored on them? Is your business covered by cyber insurance?
Unfortunately, a staggering 60% of small to medium-sized businesses who experience a Cyber attack following a data breach. are forced to liquidate within 6 months of being Attacked!
The good news… this is preventable!
Would your business be covered if you suffered data theft?
If your business stores personal data such as names, email addresses, addresses, medical data or banking information, you need cyber liability insurance.
If your business relies on computers, communicates using electronic methods or has a website, you need cyber liability insurance.
If your business collects payments using a merchant card facility, you need cyber liability insurance.
Without this insurance, you could find your business facing both financial and reputational consequences.
A final word on GDPR and small businesses
GDPR legislation affects every business in some way. You might think your business is too small and is therefore immune to the new law, but you may be surprised. If your organisation has a website – and let’s face it, most do – you have legal obligations! You must display the correct legal documentation on your site for visitors to access and understand. Failure to do this could result in your business breaking the law, and ultimately receiving a fine or other punishment. It is far better to be prepared and to limit your liability in the first place.
Speedy action by Chichester Police force has resulted in the arrest of those responsible. Our thoughts are with those affected by the recent break-in at Chichester Enterprise Centre. If we can be assistance in anyway please contact Owen Costen Head of Compliance Services.