As the risks of handling big data grow, information governance is an important legal & technical issue, say Mike Brown & Ramin Tabatabai
Businesses are under scrutiny like never before. Whether it’s a call from the regulator, investigations under the UK Bribery Act 2010 or the US Foreign Corrupt Practices Act 1977 (FCPA) or press reports of customer data being stolen, the financial and reputational risks that companies face are growing exponentially. Recent months have seen customer details stolen by cyber criminals and large corporations being investigated for alleged FCPA breaches. Meanwhile, the EU is threatening to “blacklist” companies found guilty of corruption offences.
In this environment, the need for companies to be in control of their data is greater than ever. Good information governance is critical to preventing, identifying and mitigating these risks, but many companies struggle to prepare themselves, leaving them vulnerable to serious financial and reputational damage.
Delivering data management
The essence of effective data management is three-fold: the prevention and identification of potential problems, the rapid reporting of problems when they occur, and the ability to provide
