Prevent data breaches by protecting valuable work information

Recent news headlines are causing concern for many Americans as company data breaches are on the rise. From missing laptops containing employee and customer information to stolen passwords that lead to the loss of proprietary records, many are led to believe that a majority of data breaches occur electronically.

According to a new study (August 2008) commissioned by the Alliance for Secure Business Information (ASBI), this isn’t the case. The Security of Paper Documents in the Workplace study found that 49 percent of the 819 respondents whose companies have been affected by a data breach stated one or more of the breaches involved the loss or theft of paper, not electronic, documents. And the problem does not seem to be going away, with 80 percent of respondents polled indicating their company had experienced one or more data breaches in the past 12 months alone.

From small, family-owned businesses to large corporations, data breaches affect businesses of all sizes. In fact, 46 percent of respondents who represent larger companies estimate the annual financial impact of data breaches within their organization to be between $10 to $30 million.

“Everyday, businesses manage highly confidential information that if stolen, can leave the company and its employees, vendors and customers exposed,” says John Fellowes, vice president and general manager of Fellowes, Inc. and a member of the ASBI. “What many fail to realize is that paper documents are just as vulnerable to a breach as electronic documents.”

Key findings from the study reveal a need for companies to take tighter controls on how they manage their paper trail through stronger enforcement of security policies. For example:

* According to 56 percent of respondents, more than half of their organizations’ sensitive or confidential information is contained within paper documents.

* Sixty-one percent of those surveyed stated there are not enough resources and controls available to secure paper documents.

* Fifty-seven percent of respondents reported that it is more difficult to control access to paper documents than it is to control access to electronic documents.

In fact, the ASBI was formed in response to this issue and the need for awareness and education for businesses and employees about how to protect confidential information in the workplace. Members include: Fellowes, Inc., Ponemon Institute, Identity Theft Resource Center (ITRC) and John Sileo, a leading business security speaker.

It is important to remember that protecting proprietary information at work not only protects a company, but also ultimately protects you. The ASBI recommends the following tips to protect your company and yourself from a data breach:

Practical Tips for the Office:
* Shred all proprietary information with a crosscut shredder. Desk side shredders are ideal for business professionals that regularly handle sensitive information including legal, accounting, human resource or finance departments. Commercial shredders are best for shared spaces including shared printing or copying areas where large volumes of sensitive information are created.

* Develop office guidelines for all employees that outline the proper procedures for protecting sensitive information.

* Keep all sensitive information and files locked away. Restrict access to those who need it and closely watch your files.

* Ensure all company computers have the most up-to-date anti-virus, anti-spy ware and firewall software. Also, check to make sure wireless networks are protected with the proper security settings.

* Limit the use of Social Security numbers in the workplace. Don’t use Social Security numbers on items such as employee identification badges, time cards or paychecks.

* Avoid leaving documents in communal copiers, shared printing spaces, conference rooms or other open areas for extended periods of time.

* Commit your passwords to memory instead of writing them down. In addition, do not use your date of birth for your passwords, and change them frequently.

* At the end of each workday, all employees should log off their computers and lock their workstations or office doors. All confidential documents should be filed away rather than left at one’s desk.

For more information on ASBI, and to learn how to protect businesses’ confidential information, visit www.fellowes.com/asbi.

Photo courtesy of Fellowes, Inc.