The government-imposed lockdown in the UK due to COVID-19 has forced organizations to adopt a work- -from-home culture. While adapting to this new normal has enabled business continuity, the advisor community has been unable to access their client files, and many organizations are migrating client files and data online.  However, given that much of the data will be considered sensitive personal data under the General Data Protection Regulation (GDPR), organizations need to ensure that their data is well protected. 

In an article for the FTAdviser, Andrew Beckett, Managing Director and EMEA Leader in the Cyber Risk practice of Kroll, a division of Duff & Phelps, states “There are huge benefits, particularly for smaller businesses, in using cloud-based services.” However, he insists that businesses conduct thorough vendor research, understand their own data requirements and reserve the right to come in and view their data and all records relating to their data. Andrew further highlights that with the prevalence of breaches, organizations need to ensure that investigative support to discover what happened, what data was affected and the individuals are impacted is part of the contract. 

Read the full article here.

 
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