What is really scary behind the Paradise Papers?

Paradise Papers Data BreachSo this weekend and on today we woke up to headlines about a range of rich, famous, celebrity people and even the Royals, allegedly having stashed money in offshore funds. Most of them have done so in accordance to UK tax law although it is being reported that a few may have used tax avoidance schemes. I find the story really interesting but not because of the alleged tax avoidance or the list of celebrities and famous people caught up in this latest leak…

What I find interesting is that one of the largest offshore law firms suffered such a huge data breach that meant that people’s personal information, including details about their earnings and where certain money is held or invested, has been stolen with relative ease!

No one has discussed it being a data breach

With the new GDPR data protection legislation just around the corner, we have a large law firm experiencing a huge leak. How is this possible? Working in the data protection arena, I can’t help but question how such a large volume of highly sensitive data (including that of the royal household), could possible be leaked from the offices of a law firm and completely undetected it seems!

Was the data not encrypted? Were there not systems in place to alert to the unauthorised removal of sensitive data? What other data have these people taken? So many questions! This on the back of security plans at Heathrow being found on the street in an unencrypted format.

It’s time to think about your IT Security

Businesses really do need to start taking the protection of client’s data seriously and putting reasonable measures in place to mitigate against the risks posed to the IT security landscape.

Basic IT security which doesn’t cost an arm and a leg could have prevented so many of the data leaks we hear about in the news, yet still businesses are failing to do the basics. Will GDPR change that? Let’s hope so.

If you would like to find out how your business can take measures to avoid finding themselves in the press or having a data breach investigation from the ICO then please get in touch with us today.