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Companies have solid reasons for embracing Bring Your Own Device (BYOD) and allowing for telecommuting so personnel can work from home or on the road, they increase the risk of data breaches for the company.
Two policies are currently in favor with hundreds of thousands of businesses across the United States and the globe. While companies have solid reasons for embracing Bring Your Own Device (BYOD) and allowing for telecommuting so personnel can work from home or on the road, they increase the risk of data breaches for the company.
What’s the Problem?
Two problems are closely related. The first has to do with the concept of BYOD. The reason companies choose to allow this is that it allows their staff to have the most up-to-date technology without having to acquire advanced technology themselves. The second is telecommuting. Workers that telecommute only need an internet connection to log into their workplace computer systems.
By the Numbers
So, let’s look at some numbers concerning both problems. An article published in Great Britain tells about a survey of 500 companies in the UK and Germany. Among their findings:
Results of similar surveys in North America, Europe, and the Pacific Rim all returned same results.
Well, that’s interesting, but what are the implications?
Many of these devices when lost or stolen have passwords stored without any protection. This means thieves have easy access to your company data. Often, lost or stolen devices have personal identifying information, personal financial information, or personal health information that can number in the 10s of thousands. If this data, or other data such as customer lists or proprietary information, is breached, companies can see losses that go to the tens of millions of dollars.
What Makes This Such a Big Problem?
Breaches are very expensive.
What You Can Do to Protect Your Data
Some measures help mitigate or eliminate threats. These include:
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