Protecting Corporate Data at Disposition
When IT assets are no longer needed, organizations begin the arduous task of IT asset disposition (ITAD). Diligence is required in order to protect and eradicate the data on these assets, because just one errant device could expose millions of customer records, causing the organization monetary damage and irreparable brand damage. This infographic shows why and how to prioritize data security at electronics asset disposition. Let us know what you think.
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Protecting Corporate Data At Disposition
Data security is the single most important aspect of any corporate IT asset disposition program.
Each retired electronic device poses a potential data security risk if sensitive personal and corporate information is compromised.
What Types of IT Equipment Contain Data?
- Data center & network equipment
- Hard drives & loose media
- Printers & copiers
Types of Sensitive Data Often Stored on Corporate Devices
- Social Security numbers
- Medical information
- Payroll and insurance data
- Financial information
- Corporate intellectual property
- User IDs and passwords
Regulations Designed to Protect Data
All industries have the potential to experience a data breach, but any organization that holds personally identifiable information faces the most risk. The healthcare, finance, and government industries tend to see more data breaches than other industries do.
Sarbanes-Oxley Act (SOX): Affects U.S. public companies, management and public accounting firms.
Gramm-Leach Bliley Act (GLBA): Relates to financial institutions.
Health Insurance Portability and Accountability Act (HIPAA): Applies to any company or office that deals with healthcare.
Fair and Accurate Credit Transactions Act (FACTA): Applies to nearly every business and private employer handling consumer information.
Payment Card Industry Data Security Standard (PCI-DSS): Affects companies handling credit card information.
Family Educational Rights and Privacy Act (FERPA): Affects any postsecondary institution including universities and technical and vocational schools.
Federal Information Security Management Act of 2002 (FISMA): All federal agencies fall within the range of this bill.
Cost of a Data Breach
Average total cost of a data breach: $4 million
Average cost per lost or stolen record: $158
The most significant impact to organizations that experience a data breach is decreased business. After a data breach, it’s important that organizations take action to retain the trust of their customers and reduce long term financial consequences.
Protect Your Business
On today’s complex devices, data can be stored in multiple, sometimes hidden places, and it is not always apparent how to remove it or easy to do so. IT asset disposition professionals like Arrow’s Value Recovery are experts in data sanitization and use the most current data destruction techniques that meet rigorous global standards. Plus, clients are provided full validation and documentation to further protect their organizations’ brands.
Make sure your company is smart, secure, and protected. Contact Arrow Value Recovery today.