Whilst data is rapidly becoming one of the most important assets of any business, infrastructure and strategies to protect that data often do not keep up with the pace of change. There are many reasons – a lack of understanding of the risks of a data leak or a lack of investment in the appropriate technology are just two examples. But this is late 2018: the digital economy is taking off and personal data is becoming ever-more fluid and ‘shareable’. The risks and costs of a data breach are now too great to ignore.
Clearly, protecting data in Hong Kong involves a certain amount of expenditure. Companies can either preventatively invest in the right protections for this precious and important resource, or pay the price for not protecting it properly in the form of lost trust, potential fines and a permanently damaged reputation.
The insight was first published in Hong Kong Business on 5 March 2019.
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Source: Hong Kong Business, 5 March 2019