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Avoid huge fines and avert a financial crisis with SafeToGo®

11th December 2017

With 2017 drawing to a close our thoughts turn to the New Year. The new year being 2018, the year that the EU GDPR goes live!

Christmas is just weeks away and in fact come Christmas Day we will be just six months away from the enforcement of the EU General Data Protection Regulations.

Globally data breach incidents continue to occur, and despite the imminence of the GDPR the number of breaches are reported to be on the rise. In the first half of this year, 1.9 billion records were compromised according to the Breach Level Index (BLI). That’s a staggering 343% more than the same period in 2016, and even 38% more than the whole of the previous year.

Whilst breaches occur across all key sectors, some are being hit harder than others. Findings from the BLI show 50% of breaches came from just three sectors:
1. Healthcare 25%
2. Financial Services 13%
3. Education 13%

Under the GDPR businesses globally will be fined up to 4% of their global annual turnover (or €20 million – whichever is greater) for a breach pertaining to data belonging to an EU citizen. But despite the huge financial ramifications of a data breach, businesses are failing to take action, including those in the financial sector.

Breaches in the Financial Services sector have risen by 29% in the last 6 months. Furthermore the average cost per lost/stolen record in this sector is £196, over 70% higher than the average cost per breach globally (according to H1 2017 Cost of Data Breach: Global Analysis).

In the UK the rising trend in data breaches in the Finance sector can be clearly seen in the quarterly data breach statistics reported by the ICO.

One aspect of data protection which is quick and easy to remedy is that of keeping data safe on the move, thanks to hardware encrypted USB drives such as SafeToGo®.

SafeToGo is a cost-effective solution to ensuring sensitive data is kept secure whilst in transit. Millions and millions of USB drives are lost every year, most are unencrypted and pose a data breach threat. Lose a hardware encrypted USB drive and a data breach will be averted and only a security breach reported.

In addition to keeping sensitive data safe on the move, SafeToGo provides additional advantages to organisations as devices can be managed through SafeConsole® giving administrators control over specific features such as remote kill, geofencing and geolocation of devices, full audit compliance.

Sources: H1 2017 Cost of Data Breach Global Study, Ponemon Institute. The 2017 H1 Breach Level Index by Gemalto. The ICO. Experian. *US$ to £ exchange rate as at 25 January 2017.

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Raspberry Pi

Cardwave are delighted to be recognised by the Raspberry Pi Foundation for being a valued partner and supplier. We have enjoyed a close business relationship with the foundation since the massively successful launch of the Raspberry Pi in early 2012. Cardwave works with memory distributor, Xel Electronics, who supply Samsung SD cards to Premier Farnell and RS Components, two of the companies authorised by the charity to supply the Raspberry Pi. We are pleased to work with the foundation again on this superb SD card offering. Visit website

"Partnering on another great offering from Raspberry Pi"

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