Why Data Protection is an Important Issue for International Business

Originally posted 2018-11-19 11:21:01

By Chloe Coska | amdlawgroup.com

Data ProtectionWith this Internet and digital era, information travels remarkably fast across the globe. In an international business context, the way information travels can be problematic for large or small companies doing business in several geographic areas. The risk for companies of losing information to competitors is high. Now, schools are offering courses for cybersecurity. Companies invest large sum of money in order to preserve their data. Data protection is a critical in the development of a business especially in the pharmaceutical, biologic, defense, digital sectors.

According to cloud security company Netskope, every cloud server, iPhone, or USB drive that connects to a company’s network is a point of vulnerability. Large companies have an average of 579 cloud apps in use, most of which are not sanctioned by their information technology departments.

Multinational corporations and small businesses are both at risk of being hacked.

Eric Montague, president of Executech, an IT firm in South Jordan, Utah, gave a baseline of what companies approximately spend for cybersecurity. Depending of the size of the company and its resources, companies spend $57,600 a year for a 50-employee company.

Without a robust data protection policy and cybersecurity, companies will tend to be less inclined to extend. Cyberattacks and loss of information is getting worse and with the amount of information circulating around the globe, companies need to be aware of these risks.


Image credits: www.grtcorp.com