When it comes to data security, most businesses are deploying adequate protection for information in use. Sadly, the same cannot be said of data disposal as second-user hard drives containing sensitive personal information continue to come up for sale on the open market.
Failing to delete data is embarrassing, and potentially very costly. 58% of consumers say they would actively avoid a provider who had recently experienced a data breach for instance. And should one of your competitors get hold of any intellectual property from an old drive, you can kiss goodbye to your competitive advantage.
The $20 million drive
But the fall-out can be even more serious once data regulators get involved. If your business is found guilty of losing or exposing personal data belonging to citizens of the European Union, you could be issued with a massive fine– up to $20 million or 4% of global turnover, whichever is greater.
Importantly, the General Data Protection Regulation which governs the use of EU citizens’ personal information applies to any business anywhere, not just those based in Europe.
So to answer the headline question, does your business own a €20 million hard disk drive? The answer is almost certainly “yes.”
Invest in secure data removal
The potential fall-out from “losing” data on old hard drives continues to mount. Customers, competitors and regulators all have a vested interest in how you dispose of old data, and they will continue to apply pressure to your business to improve standards, too.
Investing in a secure data removal service that deletes old data and decommissions unwanted hard disk drive arrays responsibly makes good sense. Especially if it helps your business avoid a €20 million fine.
To learn more about how to dispose of your old data assets safely and securely, please get in touch.