Information is an important asset. To fully understand the importance of information security, there is need to appreciate both the value of information and the consequences of such information being compromised. The days when thieves would only steal laptops and desktops are long gone. Nowadays, thieves steal critical data and information contained in insurable hardware including mobile phones, giving rise to cyber-crime. The thieves are now called hackers.
Businesses will continue to hold sensitive information on their employees or customers, financial results and information that gives them a competitive edge such as trade secrets and business plans. As more and more of this information is stored and processed electronically, and transmitted across company networks or the internet, the risk of unauthorised access increases. Businesses are presented with the growing challenge of how best to protect this information, which if left unprotected, can be accessed by anyone leading to an information or security breach. When information falls into the wrong hands, it can ruin lives, bring businesses down and even be used to cause harm. It can also lead to huge financial penalties, expensive law suits, loss of reputation and business and can take years to recover from.
Click the link below to read the article.
© 2019 KPMG, a Tanzanian registered partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.