AI Issue 9 2017

4 Acquisition International - September 2017 Legal Businesses Failing to Report Data Breaches Data breaches have hit the news already in 2017 with high profile cases such as mobile phone company Three – where an employee’s password was stolen in March and the data of 200,000 customers compromised. Then in April, cybercriminals seized 250,000 customer records at Wonga - including bank account details. However, it seems these stories may be only the tip of the iceberg. The Crown Records Management Survey, undertaken by Censuswide, polled 408 IT decision makers in companies of between 100 and 1,000 employees across the country. It provided some shocking results which suggest many of the UK’s data breaches are going unreported. Some of the statistics for the legal sector are below, with mixed results: • 17 per cent have delayed reporting a data breach to senior management. • 17 per cent have chosen not to report a breach to senior management at all. • However, nobody surveyed was unsure what constitutes a data breach - better than the national average of 8 per cent. “Whilst the legal sector is doing better than most when it comes to understanding what entails a data breach, there is still a long way to go. The frequency of data breaches that go unreported is especially worrying in a sector such as legal, which handles large quantities of sensitive data.” Said Dominic Johnstone, head of information management at Crown Records Management. “Some of these statistics really are shocking and suggest that data breaches may be far more common and more widespread than many people realise. These results also indicate a culture inside many companies that the best response to a breach is to ignore it or keep it quiet. “Perhaps this comes from a fear of the loss of reputation which can be experienced when breaches are publicised. Or perhaps it is simply down to lack of a clear procedures and information management in the business. Either way, the implications are serious and the fact still remains that data breaches must legally be reported within 72 hours.” The latter will bring in huge fines for businesses which suffer breaches because of poor compliance. It also sets a strict timeframe for the reporting of breaches – with fines for those who do not meet them. “It is absolutely vital that businesses tackle this culture of secrecy because in future unprotected data loss will simply not be acceptable,” Johnstone said. “In fact, it shouldn’t be acceptable now. “Having a clear data protection and information management programme in place is vital for businesses to avoid these kinds of problems. It should be very clear who is responsible for reporting breaches and who they should be reported to. Until businesses grasp how much a breach can cost them – both financially and in terms of reputation – this problem is not going to go away.” www.crownrms.com The real extent of the legal sector’s problem with data breaches has been revealed by a survey which suggests many in the industry delay reporting data breaches, or even ignore them entirely. This partnership will allow them to use their Alipay app to settle payment at 10,000 Zapper-affiliated merchant locations across the country. Chinese tourists will also be able to search for restaurants, bars, theatres, book shops, adventure parks and more through Alipay’s in-app Discovery platform and pay for their orders in RMB via Alipay by scanning a Zapper QR code. “South Africa is a must-experience country for Chinese tourists visiting Africa. We are excited to partner with Zapper, the largest mobile payment provider in South Africa, to offer Chinese tourists a safe and convenient payment solution and seamless travel experience,” said Rita Liu, Head of Alipay EMEA. “This cross-continental alliance is in line with a series of expansions into new verticals that Zapper has undertaken to diversify its services and further strengthen its position as South Africa’s mobile payment and loyalty rewards app of choice. These verticals include hospitality, retail, bill payment, e-commerce, donations, parking, fuel and convenience,” said Will Heygate, general manager of Zapper South Africa. This development arrives on the heels of the online payment service for “hop-on-hop-off” bus ticketing in Cape Town and Johannesburg that Alipay launched in June this year. According to statistics from the South African Department of Tourism, over 110,000 Chinese tourists visited South Africa in fiscal 2016, with a year-on-year growth rate of 38%. Tourism in South Africa has grown continuously for 7 years and comprises 9% of the country’s GDP. The South African government has recognized the tourism sector’s potential to generate economic growth and employment. Through the Department of Tourism’s strategic plan - National Tourism Sector Strategy (NTSS), the tourism sector is committed to creating a total of 225,000 additional jobs by the year 2020. With Alipay’s more than 520 million Chinese users and Zapper’s rapidly burgeoning presence within the global payment landscape, each brand is now better positioned to support this local strategy and to strengthen its respective appeal to both Asian and South African customers. www.antfin.com www.zapper.com Chinese Tourists Can NowUse Alipay at 10,000Merchants across South Africa News: from around the world