Data Protection Best Practices
Protecting valuable data starts with the human factor. While it is impossible to completely mitigate the risk of human error, there are several steps you can take to ensure that your personal information stays protected. When it comes to data protection, it is important to remember that the impact of just one data breach incident on one employee, whether on their home network or in the office, can have far reaching negative consequences for an entire company . Data breaches weaken networks and open companies up to a wide of array of additional attacks, depending on which information was stolen. Read on to learn four best practices for keeping data secure.
Data Governance and Auditing
Data is the most important element of any organization, and as a result, companies of all types and sizes need to understand who uses it, and where and how their data is stored. With the growth of unstructured data, which refers to data that is not organized in a specific manner, companies have needed to develop governance and auditing methods to ensure that they can identify the locations and usage of their critical data pieces. Unstructured data also poses risks such as potential data theft and cybercrime, so these policies ensure that data stays secure and protected. For hedge funds and other investment management companies, the risks are even greater when it comes to data loss and prevention, due to the large amount of assets and personal investor information that comes in the form of this unstructured data. As a result, it is essential that these firms understand the importance of data governance and auditing policies. Read on for four key facts on data governance and auditing.
What are the Implications of Safe Harbor?
The US approaches data protection in a very different way to Europe, but with so many organizations doing business across the globe, it became apparent that there was something needed to bridge the gap, and ensure that European personal data was handled in as stringent a manner, when it reached the US. The Safe Harbor agreement was passed into law in 2000 to allow US companies doing business in the EU to transfer data from EU-based consumers to US servers in a way that complied with EU data protection laws. The objective was to make international business transactions more seamless, but in the light of Snowden’s revelations and the Schrems case more recently, on 6th October, the regulation was deemed inadequate in the protection it provided to personal data.
Cybersecurity Strategy: A Quick Guide
When it comes to planning your hedge fund’s cybersecurity strategy, the options can be endless and somewhat overwhelming. Here at RFA, we’ve mapped out a simple guide with key best practices and accompanying action items, so you know exactly what steps to take when designing your policies. Read on to learn more.
FAQ’s: Data Protection
As an IT services provider to the alternative asset industry for more than 25 years, we get asked our fair share of questions on a variety of technology topics. One of the most frequent categories that these questions fall into is data protection. For today’s blog post, we’ve rounded up our three most frequent questions on the topic and shared the answers to these complex challenges.