ao link
0 £0.00
This item was added to your basket
Credit Strategy homepage
LinkedIn
Twitter
Intelligence, Insight and community for responsible professionals in credit

IPs warned over risk of poor data management 

Insolvency practitioners have been warned they could face huge fines for non-deletion and management of data belonging to the insolvent companies they’re appointed on.

According to DSA Connect, an IT asset disposal company, “unscrupulous” IT disposal companies are failing to properly delete data from devices and are potentially leaving clients exposed.

 

DSA Connect said it is aware of a leading financial institution that recently had to inform clients that an IT asset disposal vendor’s mistakes could have left personal information susceptible to misuse.

 

Harry Benham, chairman of DSA Connect, said: “IPs are increasingly busy, this increases the risk of personal data being left on electronic devices that are being sold as part of the liquidation of the assets of the companies that they act for. Legislation around how personal data is stored and used in the UK has never been more robust, as GDPR clearly and firmly puts the responsibility on the owner (or their agent) for any personal data held on its electronic devices.

 

“The risk of IPs falling foul of GDPR is heightened, as the types and volumes of electronic devices which retain data grows. The increased risk of items being sold containing data could potentially expose the IP to breaches in GDPR which could result in fines and/or compensation, together with brand and reputational damage.

 

“Unfortunately, there are a number of IT disposal companies in the market place claiming to legally and professionally dispose of data on devices, but we have found that the processes some of them use are flawed and that the data they claim to have deleted can be retrieved.”

 

Please login to continue reading this article.

Not a member?

Become a member

FREE registration. No credit card required

Register now
  • Stay up-to-date with industry news and appointments
  • Hear about events first
  • Read 1 free Premium article per month

Become a premium member

From as little as £3.48 per week

Become Premium
  • All the perks of a standard member plus:
  • Access to the entire Credit Strategy website
  • 12 months subscription to Credit Strategy Magazine
  • 25% discount to all conferences
  • Exclusive access to Premium Member only roundtables
  • 50% off award entry fees

GET THE LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

READ NEXT

The Credit 500 for 2021 has been revealed – with a new focus on gender diversity

The Credit 500 for 2021 has been revealed – with a new focus on gender diversity

Virgin Media and 02 merger gets provisional green light

Virgin Media and 02 merger gets provisional green light

“The ability of humans to adapt is fantastic”

“The ability of humans to adapt is fantastic”

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group