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Company data misuse 'is a priority risk' | | 2008/09/16 | | Preventing data misuse should top the list of priority risks for any business, according to the Institute of Risk Management (IRM).
Whether through appropriate web site monitoring services or having a crisis management strategy in place, firms should develop "workable processes" to reduce risk.
Research by Aveco and the London Chamber of Commerce reveals that 53 per cent of businesses never recover losses incurred by a disaster such as a power, hardware or software failure.
Despite this, the majority of companies surveyed do not have a business continuity plan in place, while eight in ten do not provide sufficient crisis management IT coverage.
"Risks need to be identified and then managed," warned Ian Fraser, marketing manager at IRM.
"These processes must be practical so that they are used but not too loose that they are irrelevant and do not provide any worthwhile protection," he added, noting that provisions should also be extended to include remote workers and contractors.
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