Is RFID for IT Asset Security in your Data Protection Plan?
IT data security is a hot topic. It’s no wonder. The Privacy Rights Clearinghouse has tracked over 1700 data security breaches exposing over 500 million consumer records since 2005. The Financial and Insurance Services industries alone accounted for more than 200 breaches and nearly 250 million records exposed. Most people assume that these data breaches are the result of online hackers or malware. Here’s the surprise. Nearly 50% of all incidents in financial services industry are directly attributed to the physical loss of an IT asset.
Network Security is only part of the Equation
These numbers should be a wake-up call for executives responsible for IT and data security. There is no doubt that cyber and network security are more critical and important than ever before. However, the data tells us that it is only part of the equation. The best network security in the world is useless against a data storage tape inadvertently tossed in the garbage, or a laptop walking out the door. Physical IT asset tracking and security should be part of every IT data security program. Thankfully, RFID technology is helping move past the days of sole reliance on security guards and automating physical asset tracking security.
IT Asset Loss is Costly
A senior executive at a top five U.S. bank estimated in 2008 that it cost the company more than $2 million anytime it lost a data storage tape. Think about the cost when you lose an asset. There are search costs, management time, impact assessment and public relations costs. If customer data is involved, compensation costs may also be required. This does not even include the impact of negative publicity on the company’s reputation, the loss of current and prospective customers or legal judgments.
The United States Department of Veteran’s Affairs paid much more than $2 million when it lost a laptop in 2006 containing the names and social security numbers of 26.5 million active duty and retired serviceman. It settled a class action lawsuit for $20 million in 2009 despite the fact that an FBI investigation concluded no that personal data had not been accessed.
Can your IT assets alert you when they move?
RFID is a quiet revolution for IT Asset Management and IT Asset Security. In the past, IT assets could only be identified through active human intervention. A human had to locate and record a serial number on the asset or initiate a bar code scan. Assets had no voice. If the humans didn’t follow the policy, there was no way of knowing that an asset had moved. This is the reality for nearly every organization managing IT assets today. They do not have an automated solution for tracking IT assets and identifying unauthorized asset moves. RFID addresses this issue directly. It can automatically track IT assets and alert users systemically.
To learn more click here to download a new whitepaper on the IT Asset tracking and physical security.
You can read other Blogs about RFID IT Asset Tracking here.
Also, leave a comment below. Do you have physical security as a priority in your data security plans? Have you considered RFID? Why or why not?