![]() Just recently, the Marriott hotel chain was subject to a data breach that resulted in details of 500 million guests being stolen, which could cost the company $US200 million. Responding to security alerts should be considered an integral part of records management best practices. Without the right security measures in place, cybercriminals can not only access your records but also install malware into your systems which could capture your clientele’s vital data. ![]() It is incumbent upon businesses to safeguard their records and treat client data and information with the security that it deserves. A data leak could have huge monetary repercussions whilst also creating a host of PR problems. If security is lax, your data could be vulnerable to a breach. One of the first priorities for any business intent on getting its house in order regarding record-keeping, is to ensure strict data security and privacy measures are in place. Here are nine principles that will help you to stay compliant without compromising operational efficiency. Making records management best practices the guiding light of your operations will help mitigate the risk of non-compliance. After months or even years of shoddy record-keeping, those four figure sanctions can add up to a crippling fine. This might seem like an austere sanction but it’s worth remembering that the maximum fine for each breach currently stands at $A1260 for an individual or $A6300 for a corporation. The franchisee, Aulion Pty Ltd, and its director were both fined after investigations revealed that information from the company’s accountant, bank and superannuation fund did not match figures provided to the ombudsman. Just last year, a Caltex franchisee was brought before Australia’s fair Work Ombudsman for failing to adhere to record-keeping laws, and the Sydney-based store was fined $A100,000. In recent years we’ve seen some high profile examples of businesses being held accountable for failing to adopt records management best practices. ![]() Aside from the inevitable PR black eye and the potential risk of losing clients’ trust, your organisation could find itself faced with serious punitive measures. And, unfortunately, non-compliance can have some pretty serious consequences for businesses. In a climate of tightening regulations, enterprises run an increasingly high risk of non-compliance. ![]()
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