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Management

November 21, 2018 By PC Portal

Beyond governance, risk and compliance: privacy, ethics and trust

We are currently experiencing the fourth industrial revolution (FIR), characterised by a blurred fusion of all things physical, digital and genomic. Each revolution has been accompanied by a privacy legislation wave, linking its governance to the accelerating pace of change. So we find ourselves in the fourth privacy wave, where technological changes outpace regulation – causing consumer fear and digital distrust, and resulting in strong ethical arguments for aggressive improvements in organisations’ privacy practices.

One of those arguments is consumer trust. The 2017 Edelman Trust-Barometer reveals that trust is in crisis around the world. To rebuild trust, Edelman argues that organisations must step outside their traditional roles and work towards a new, more integrated operating model that positions consumers and their trust concerns, at the centre of the organisations’ activities. Organisations should address data protection not just because legislation mandates it, but because empowering customers to control their data engenders trust, creates shared ‘value’, and wins consumer loyalty.

“The trust dynamic between consumers and organisations is on a knife’s edge, with consumers reporting that the values of honesty and integrity have been eroded when it comes to personal data – leaving them feeling cynical and increasingly unwilling to share their data at all”     –        Whose Data Is It Anyway? CIM Survey 2016               

Although many FIR technologies are positively transforming consumer lives, they still depend hugely on large quantities of consumer data, giving rise to increased personal data sharing. A recent study by Columbia Business School found that 75% of consumers are willing to share their data if they trust the brand and are more willing to do so in exchange for benefits, such as reward points and personalisation – but only if it’s on ethical, fair and transparent terms.

Big data = big ethics?

The more data consumers share, the more an organisation can leverage that data for personalisation and innovation, which leads to increased share value. However, according to Gartner, in 2018 half of business ethics violations will occur through improper use of big data analytics. The exponential growth in adblocking over recent years shows how consumers feel about improper use of their data (with Irish and Greek consumers topping the European average, at over 50%).

Just as consumers are known to share more information when they trust an organisation, the opposite is true with distrust. Boston Consulting Group has found that consumers radically reduce data sharing when they distrust an organisation.

Digital ethics and privacy are one of Gartner’s top ten strategic technology trends for 2019.  It writes: “any discussion on privacy must be grounded in the broader topic of digital ethics and the trust of consumers, constituents and employees. Ultimately an organisation’s position on privacy must be driven by its broader position on ethics and trust”.

Doing rights vs doing right

Shifting from privacy to ethics moves the conversation beyond ‘doing rights’ toward ‘doing right’ This ethical approach to data privacy recognises that feasible, useful or profitable does not equal sustainable, and emphasizes accountability over compliance with the letter-of-the-law. In the digital economy, the existence of, and compliance to regulation will no longer be enough to engender consumer trust.

Organisations need to find ways to let their consumers know that they use consumer data in a law-abiding and ethical manner. Organisations that ethically manage data and solve the consumer-privacy-trust equation are more likely to win loyal consumers who pay a premium for their products and services. For example, Lego has placed the protection of children’s data at the heart of its information protection strategy. It limits integration with social media, shows strong corporate responsibility regarding use of customer data by suppliers and partners, and it forbids third-party cookies on websites aimed at children under 13. Apple too, mandates that any new use of its customer data requires sign-off from a committee of three “privacy czars” and a c-suite executive.

Sustaining trust

As data stewards, organisations should understand the dynamics and profile of their consumers and the factors that lead to their trust. Organisations can then communicate their compliance initiatives in a way that can more openly nurture and sustain the trust relationship with the consumer.

This in turn will enable them to better design how and where they should communicate their data protection activities to maximum effect. It also results in a more socially responsible and sustainable privacy protection regime for the fourth privacy legislation wave.

Valerie Lyons is chief operations officer at BH Consulting and IRC PhD Scholar at DCU Business School

The post Beyond governance, risk and compliance: privacy, ethics and trust appeared first on BH Consulting.

Filed Under: Data Protection and Privacy, IT Security, Management, Risk Management Tagged With: Privacy, syndicated

March 28, 2018 By PC Portal

Here’s how to get the most from a cybersecurity assessment

Would your organisation pass a cybersecurity assessment? Not one of 200 UK NHS trusts did, after the Department of Health checked them following the WannaCry ransomware outbreak.

The NHS trusts’ complexity meant the assessments set a high bar. But for many SMEs, the assessments identify opportunities to improve, rather than obstacles to overcome. They show an organisation’s current security levels and spot potential gaps.

That’s becoming ever more important as cybercrime continues to rise. One recent survey found that the average SME website is attacked 44 times a day. We also know that many common security attacks exploit well-known vulnerabilities.

The test criteria

To find out what’s involved in a cybersecurity assessment, I asked Stephen Rouine, cyber risk specialist at BH Consulting. Here are some of the common things he looks for when he carries out an assessment:

  • Boundary firewalls and internet gateways protecting the outside
  • Does the organisation scan for malicious URLs and warn users if they visit an infected site?
  • Secure configurations on servers, laptops, or phones. Does each device have antivirus software? Do screens automatically lock themselves if the device is idle?
  • What antivirus software is the organisation using, how is it configured and is it the latest version?
  • Do all users have administrator accounts or privileges on their systems?
  • How does the organisation manage patches for keeping software or operating systems up to date? Is this manual, in-house or does it use a third-party company?

Following the questionnaire and visit, the client receives a report with findings and recommendations of any changes needed. These will address some of the basic security gaps that might emerge during the assessment. For example, they might need to disable the autorun feature that opens a USB key once it’s plugged into a Windows machine. Ideally, users should manually navigate to the USB key before opening any files, and the antivirus package should scan the key’s contents first.

The time commitment

For most SMEs, the on-site visit and questionnaire process takes around half a day. Any follow-up actions usually take a similar amount of time. So, the company can improve its security for a minimal commitment of time and resources. Stephen emphasised that it’s important for senior management to commit to the assessment and certification process.

Once it has met and passed all of the assessment criteria, the company can apply for Cyber Essentials certification. This is an independent, international standard that growing numbers of organisations are adopting.

The business benefits outweigh the time and cost involved, Stephen added. Reaching the standard will protect the business from many common attacks and compromises. It shows customers and suppliers that the business takes security seriously. “Most of our clients see it as a necessary first stage of getting more secure. In the case of one client, Cyber Essentials allows them to go to tender with UK government agencies, so it opened up their client base,” Stephen said.

It’s also worth pointing out that maintaining security is an ongoing process, not a once-yearly exercise. Threats and risks are changing all the time. Completing an assessment and applying for Cyber Essentials certification puts businesses at the security starting blocks, not the finish line. As Stephen pointed out: “It’s important to state that this check will only prevent basic attacks and security incidents, but it may not be enough to protect from sophisticated intrusions.”

For more details on BH Consulting’s cybersecurity assessment service, visit this page.

 

 

The post Here’s how to get the most from a cybersecurity assessment appeared first on BH Consulting.

Filed Under: IT Security, Management, Risk Management, Standards Tagged With: Security Awareness, syndicated, Uncategorized

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