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BSIA urges companies to be careful disposing data

BSIA urges companies to be careful disposing data

The British Security Industry Authority (BSIA) believes that companies need to improve their cyber security systems, as the risk of business fraud has almost doubled in the past 12 months.

According to a report from KPMG, there has been more than £26.3 million worth of corporate fraud over the last year, with 80 per cent of this due to insider fraud.

The BSIA's chairman of Information Destruction Section Anthony Pearlgood said that it is important for businesses to remember that if confidential material dies fall into the wrong hands then it can lead to a vast drain on resources.

"Only a small fraction of organisational waste paper and data processing products such as hard drives, CDs, memory sticks and DVDs are destroyed annually by professional firms," he added.   

The BSIA stated that the current lax attitude to the disposal of data makes it easy for criminals to steal identities or conduct fraudulent transactions without anyone from the targeted company even noticing.

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