How’s Your GDPR & Cybersecurity Knowledge?

Security 23 January 2023
How’s Your GDPR & Cybersecurity Knowledge?

 

We might think we know everything there is about protecting our operations, information and digital presence, but it's easy for things to slip through the cracks.

Our ability to run businesses virtually is always evolving - and at a rapid pace.

A huge proportion of UK businesses now operate predominantly (even solely) online. Emerging technology - from data gathering software to AI, CPaaS solutions to cloud services - has opened new, exciting opportunities for entrepreneurs and professionals everywhere, and enabled us to expand how and where we work.

All big pluses.

But unfortunately, there's a downside. Larger, more advanced digital operations can mean larger, more advanced dangers - particularly when it comes to GDPR adherence and cybersecurity.

Bigger corporations may have the best security software and premium insurance, teams of IT experts and compliance directors to help them through, but as an SME, you have very little room for error.

So, it could be time to boost your security protocols, improve your understanding, and do everything in your power to ensure compliance.

GDPR & SMEs

When GDPR first came into effect in 2016, most businesses, leaders and professionals were pretty hot on the dos and don'ts.

For some SMEs, it required a significant overhaul of security and operations, and because of the fine print, the legislation made a whole new segment of the workforce responsible and accountable for greater data protection. Something that was pretty unheard of at the time.

Nowadays, some level of GDPR training is usually provided when a new team member joins your company. But that doesn't always mean your existing employees know the ins and outs like they should.

The regulation has had significant changes and addendums over the years, and for the average professional, these aren't always obvious. Meaning your SME could be in violation of GDPR without anyone knowing it.

Top Tips:

  1. Understand what's at stake. If your SME is found to be in violation of GDPR, it could be fined 2-6% of total annual turnover - maybe even more. A fine could result in losing employees, assets or even closure. It's never worth it.
  2. Get creative. GDPR legislation can be very dry, so if you and/or your workforce need to scrub up, you might want to think about how to do that in a way that's creative and engaging. Gamifying or incentivising the learning process is one way.
  3. Consider nudges. 'Nudging' is a great way to reinforce education and action. If you have an office, tent cards, posters or vinyls can elaborate on the eight rights of individuals in GDPR, or the difference between a handler and processor. Learn while you're making a cuppa.

Cybersecurity & SMEs

When we hear about cybersecurity attacks, it's usually big businesses and organisations which are on the receiving end. But the fact of the matter is, the threat is affecting more companies than we realise - and it's expanding.

As our working environments shift to online platforms more and more, protecting individuals' and businesses' security is going to become a hotter priority, and chances are, the responsibility will fall on business leaders.

It isn't a reason to feel frightened. But it is a reason to prepare. No time like the present.

Top Tips:

  1. Setup MFA. If you haven't already, Multi-Factor Authentication can really enhance your cybersecurity as it requires a second 'gate' to access. Most software providers include it free of cost, and it's really simple to set up.
  2. Create (and monitor) security processes. For everything. Whether it's ensuring there's a step to remove admin access once a team member leaves, or revising platform passwords every 2-3 months, your SME should have a security process for everything. And someone to own it.
  3. Outsource if you need to. Sometimes asking for help is the best option for your business. So if you're not sure you're getting your cybersecurity right, or you don't have the bandwidth, find a partner who can manage that infrastructure for you.

Security for your money - 24/7

Security and safety measures will always be amongst your top priorities as an SME. You protect your employees and their income, your assets, products and equipment, even your vendors. So let us take one thing from your plate.

Moneff is authorised and regulated by the UK Financial Conduct Authority and Danish FSA to give you peace of mind that your finances are safe and sound with us. And because of our multiple layers of security technology, we can take care of the security too. You can read more about our safety and security measures, as well as find any other information you might need, right here.

 

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