Daily DashboardEuropean Data Protection Digest

Big Data, IT Risks and Privacy Meet in the Boardroom

DATA PROTECTION

March 23, 2012

In three separate articles, Financial Times reports on large-scale privacy and security issues faced by organisations around the world. The rise of big data "poses a challenge for businesses" on "how to manage the ever-increasing--and increasingly disparate--data that we generate every day and how we use it." Utilising consumer data is "business critical," but data management poses security risks for IT departments. Several recent data breaches "underscore a key principle for boards: IT risks are business risks. Poorly managed, they can and will exceed corporate risk tolerances," the report states. In light of these recent breaches, chief financial officers "should be kept awake worrying about accountability at the business level." One report adds, "The key to data security is not what your IT department does, it is the policies you set in the boardroom." (Registration may be required to access this story.)
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