European bank data at risk, research reveals

16 March 2010

Many European companies working in the financial services industry are putting their data at risk by not adopting a centralised strategy to protect documentation, a new report has shown.

Findings from the study by Ricoh revealed that financial companies are the least likely to have restrictions on the printing of confidential client data.

Less than half of the business leaders questioned have any policies in place, despite the majority being aware of the potential security issues surrounding documents as well as printed and digital information, the study showed.

Ian Winham, executive vice-president and chief financial officer at Ricoh Europe, said: "European businesses today face increasing risks associated with the growing regulatory requirements and pressure from customers, with increased digitisation, to demonstrate responsibility.

“The most effective way to manage the challenges and gain return on investment is to ensure that ... document assets are managed as an integral part of an organisation's overall information management and security strategy.”

According to Ricoh Europe, information security is weakened by documentation management undertaken by more than one person across different locations.

By Jim Ottewill

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