{"id":6779,"date":"2023-01-31T11:30:19","date_gmt":"2023-01-31T11:30:19","guid":{"rendered":"https:\/\/wisetek.co.uk\/?p=6779"},"modified":"2023-02-14T16:19:11","modified_gmt":"2023-02-14T16:19:11","slug":"what-are-the-itad-policy-risks-and-their-mitigation","status":"publish","type":"post","link":"https:\/\/wisetek.co.uk\/blog\/what-are-the-itad-policy-risks-and-their-mitigation\/","title":{"rendered":"What are the ITAD Policy Risks and Their Mitigation?"},"content":{"rendered":"

What is the cost of a bad ITAD policy? In some cases, the cost can be in the millions of pounds if the organisation has suffered from a data breach. In the UK, data breaches are incredibly common and can be severely cost to remediate, which stresses the need for creating, implementing, and enforcing a good ITAD policy rather than suffer the consequences of a bad ITAD policy.<\/p>\n

Risks to Data Security<\/strong><\/h2>\n

One of the most important reasons to have a robust ITAD policy is to maintain data security and to improve organisational commitments to data privacy protection. If an organisation lacks good data security, it is only a matter of time until data privacy will be compromised. When data privacy is compromised, organisations expose themselves to the potential for violations of data protection regulations such as GDPR UK.<\/p>\n

From 2021-2022, the amount of fines issued for GDPR violations have exceeded $1.25 billion<\/a> (about \u00a31.02 billion), which set a new record for fines issued within the EU and a seven-fold increase, year over year. In the UK, numerous high-profile GDPR violations have made headlines with fines in the tens of millions of pounds.<\/p>\n

Non-Financial Damages<\/strong><\/h2>\n

Although the financial damage to an organisation can itself be crippling, there are many other potential ways that an organisation can suffer from a data breach. Firstly, egregious violations of data protection can put the company under a negative spotlight from the media, scarring the reputation of the brand and subsequently leading to a loss of trust and reputation.<\/p>\n

Negative press coverage and brand devaluation were highlighted as major consequences of GDPR violations in a report from PwC<\/a>, wherein 19% of respondents felt that negative coverage in the media would lead to a loss of customers and 12% reported that their brand would be devalued as a result of the press attention.<\/p>\n

Legal Consequences of a Bad ITAD Policy<\/strong><\/h2>\n

In addition to the financial and non-financial damage that can be caused by a data breach (which in turn can come from a bad ITAD policy), organisations can be subjected to scrutiny and audits from jurisdictions within which they operate.<\/p>\n

In the UK, compliance with GDPR UK is essential, but it\u2019s also important that organisations in the UK which operate internationally comply with data protection regulations and laws elsewhere, such as GDPR in the EU. Although the GDPR originally adopted by the UK in 2018 is generally the same as the GDPR UK<\/a> enacted following Brexit, organisations must still exercise due diligence wherever they operate.<\/p>\n

Specifically in terms of ITAD, this applies to the methods of data destruction and IT Asset Disposal<\/a>. Organisations must comply with data disposal laws in jurisdictions where they operate, whether in the UK or the EU or internationally. This includes diversion from landfills and using certified recycling<\/a> processes such as Wisetek\u2019s Corporate Computer Recycling<\/a> initiatives to reduce needless e-waste.<\/p>\n

How to Turn a Bad ITAD Policy into a Good ITAD Policy<\/strong><\/h2>\n