Mar 07, 2022
When organizations plan to get rid of their IT assets which has sensitive information, they need to consider disposing them by taking right recycling measures.
If recycling vendor are engaged to do this job, one thing to consider is that all recycling companies are not certified by the US Environmental Protection Agency, which means all of the data on computer could be at risk. Considering this, it is essential to use certified recycling company or use certified data sanitization software to remove sensitive information in-house. Many customers do this job inhouse to make sure all necessary steps are taken.
Importance of properly sanitizing data before recycling the IT asset
A recent study conducted by IBM and then finally completed by the Ponemon Institute shows that 25% of data breaches are attributed to negligence. This implies that users do to properly delete their sensitive data from their personal devices, like phones and computers, when they recycle them.
In 2020 alone, data breaches in United States organizations costed over $7.9 million dollars. This problem of data leakage could be prevented by having the electronics recycled properly. The right company and software product such as Jungle’s DiskDeleter can help organizations to properly wipe the memory of your electronic device so that anything that was stored will no longer be accessible.
What are among the most stolen types?
When it comes to cargo theft specifically, electronics are among the top six commodities globally. Two-thirds (66%) of these thefts happen while a cargo is in transit with 11% occurring in the warehouse. Electronics recyclers today have to consider how they will help transport equipment back to their facility securely, how to maintain security of the equipment once it arrives and again when it is prepared for further processing.’
What are top risks associated with data leakage?
Studies show that 29% of businesses that face a data breach end up losing revenue. Of those that lost revenue, 38% experienced a loss of 20% or more for their total revenue. To put this in perspective, let’s take an example, if there are 100 companies which have data breach, 29 companies (29%) will have significant revenue loss. Out of those 38% (11 companies), will have major revenue loss which is 20% or more of their total revenue. Hence this is a serious issue with significant probability of high financial damage.
What are the main threats of data leakage?
Data breaches continue to dominate headlines around the world. Although cyber security is important to defend against cyber criminals, but proper disposal of information is equally important as that is easily avoidable problem through recommended sanitization methods.
Few risks when disposing IT assets for organizations due to data theft
The negative press coupled with a loss in consumer trust can cause irreparable damage to the breached company
There has been a huge increase in class action lawsuits in both the US and UK as victims seek monetary compensation for the loss of their data.
The reality is that if a critical patient had their medical records deleted in a data breach it could have a serious knock-on effect on their medical treatment and ultimately their life. Biometric data is also extremely valuable to cybercriminals and worth a lot more than basic credit card information and email addresses. The fallout from breaches that expose this data can be disastrous and exceed any financial and reputational damage
Organizations also need to study following security standards for best practices