Investment bank Morgan Stanley's Laszlo Kollar said they routinely block employee access to cloud services, like Dropbox.
Investigating the reliability and security of a cloud-based service or collaborative working and information tool can be a very time-consuming process - one which may require excessive research
Unfortunately for businesses, the consequences of data loss can be significant – ignoring the laws on information sharing can result in risk of litigation, substantial fines and brand damage to the organization. Companies should be aware of the legal regulations in place to protect sensitive data, and compliance should be a necessity. To show you the comparative risks of legal proceedings, data access requests across the globe and the implications of data loss, Intralinks has created a Jurisdictional Privacy Heat Map infographic.
While organizations have plenty of regulations for workplace policies and procedures, not all of them may think about threats of ungoverned collaboration.
Most businesses are unaware of the dangers of increased collaboration, and the legal regulations in place to protect sensitive data. Compliance is a necessary part of day-to-day activities, and CIOs and CISOs need to be vigilant.
With the threat of data breaches, theft or other types of information loss impacting businesses today, organizations need to be fully aware of the potential risks around data privacy and the laws in place to ensure greater information security.