In a survey that was conducted by PriceWaterhouseCoopers, it was recorded that more than half of the financial service firms had no clue as to where the personal information about their customers was stored. Although these firms are handling extremely sensitive information of thousands of people, they still seem to have no proper system where all the information is collected and stored.
More than 7,000 organisations were surveyed of which 553 were public sector bodies and 665 were financial service companies. Of these, more than 50% of companies had no specific or secure methods for treating sensitive information. With the alarming increase in data loss and data breach incidents, companies and agencies are being persuaded to get better methods of storing data.
A recommended way of storing data and keeping it safe is by using online data backups. This method for storing data has been proved to be the most secure way of keeping information. Online data backups require users to download the software and regular backups ensure that data which is getting updated constantly is well protected. A password and encryption system for the data ensures great protection of sensitive information, even from the backup company. Retrieving data is relatively simple and can be done from anywhere.
