Do Uk Banks Have Enough Security To Keep Data Safe?

By Author: John Decruz
Total Articles: 5
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Seven years ago, UK Banks could have been forced to take great expensive emergency measures to back up data and ensure sensitive information so that more than 25 million people did not wind up in the hands of hackers. However, the data loss could have also left the UK tax agency, HM Revenue & Customs sitting in a very bad spot with UK residents after losing data for 25 million. Computer disks, containing financial information for children who were recipients for benefits, went missing en route to their final destination. The breach was huge because it affected more than a quarter of UK’s population and meant almost every family with children were affected.

Luckily, those affected by this data breach did not have to worry about paying any fines related to the data loss, as they might today. Since earlier this year, UK businesses that lose data are subject to steeper fines and stricter policies when it comes to protecting UK residents’ data. The measure, passed by the House of Parliament, was designed to hold UK businesses accountable and curb what has been a growing problem in the UK and the world.

How much ...
... might criminals get for hacked Data?

Will the new data rules cut down on the amount of data that is lost each year in the UK? While it is too soon tell if the new data protection laws are really helping curb losses, (that in the past cost UK businesses more than £80 million in a single year) it may be what is needed to encourage data thieves to stop mining sensitive data. Given though the UK did at one point have a faster payments initiative, UK criminals may be more easily able to drain hundreds of UK bank accounts before banks could stop the thefts.

Hello new technology and good-bye Theft

Do UK banks also need to take extra measures to prevent data loss? Thanks to the new regulations UK banks have looked more closely at their theft deterrent measures. Implementing new technology, such as looking at Geolocation, may help UK banks keep customers information safe when passwords and usernames aren’t keeping information secure enough. Virtual keypads also offer customers protection because aren’t typing numbers on a screen. This technology uses an invisible watermark to keep data safe, invisibly inserting bits to authenticate information. This is also good news for banks that may not have to pay millions to restore any lost data without paying several more millions in fees because data was lost.

Isn’t it nice to know your sensitive information is safe? Did you know that even if you do lose sensitive data to a hacker or even a virus, there may be a UK data loss professional who can quickly recover the lost files? At Manchester Data Recovery, we can recover your lost photos, files, and music files. We can also fix your Raid system errors. Before you lose your data, please visit us: www.manchester-datarecovery.co.uk