Telecom Industry: How to Stay Secure in An Environment of Double Jeopardy

By: Ryan St. Hilaire | 2/11/2015

Echoing some of the thoughts my colleague shared earlier this week in his post on how to stay ahead of security obstacles in 2015, I wrote an article for RCR Wireless News sharing my own 2015 predictions, in this case specifically affecting the telecom industry.

2015 Predictions: Data security compliance tightens within telecom shares some of the changes affecting the telecom industry, where telecoms are now subject to overlapping regulatory bodies resulting in multiple fines for the same data breach infringement. “Double jeopardy” is now a real and costly concern in telecom, as it is becoming in other industries as well.

In November 2014, the SEC announced it would begin issuing fines to organizations for not properly reporting breaches whenever there are financial implications. A few months ago, the FCC announced its intention to fine two companies $10 million for data security violations. In this case, the FTC stated such action would not replace any such action of its own.

As a result of these new regulatory bodies stepping up to both investigate and levy fines associated with the protection of consumer data, telecoms must step up their preparedness with data breach response plans, performing a risk assessment on how customer information is stored and accessed, and implementing a more layered approach to security.

As one of the more vulnerable entry points for attack, mobile devices need special consideration. It’s important to go beyond the “bare minimum” to adopt a solution that is both persistent and can prove compliance. Learn more about how to approach your security in 2015 in my article here.

Financial Services