C-Suite: Let’s not lose it this Christmas

It’s not often you can open with a John Lennon quote, but I can’t resist: So this is Christmas!

And yes, I am sure we have all already had some fun celebrating with colleagues, friends and family. During the festive season many of us will, no doubt, gain a few pounds, but we are statistically more likely to lose something – our mobile phones.

A global study of 15 million users compiled by mobile security firm Lookout revealed that in 2011, phone losses around the world spiked on Christmas and New Year’s Eve. In fact, every 3.5 seconds, someone in America loses a mobile phone.

In the same year a staggering $30bn (£18.43bn) worth of devices were lost.

The study showed that people in Manchester, England, are more likely to lose their phone than any other population in the world – so it seems Manchester is the UK’s party city. It also showed phones are more often lost at night, with two-thirds going missing between the hours of 9pm and 2am local time.

If you have a company phone, losing it can pose a real security threat. According to technology specialist Cisco, as the capability of devices has increased, so has the risk to businesses.

For example, an iPhone can hold some 1.2 million Microsoft Word documents, or 144 million emails. A company’s intellectual property – namely confidential financial information, expansion plans and products in development – is now more vulnerable than ever.

I am advised by Lisa Hansford‑Smith, our cyber underwriter here at XL Group, that given the serious consequences of sensitive and confidential data being lost, employees need to be more aware of their responsibilities with regard to mobile devices.

She says: “Data loss can be as serious as a hack, and security breaches are not just a problem for the IT department.” And she is right. We all need to understand what data is on our devices – is it business-critical or confidential? Both employers and staff need to be clear on the guidelines with regard to the use of such devices.

So, while it is the season for giving, it’s also a time to hold onto your devices and data. But just in case you lose your phone over Christmas and New Year, it may be timely now to recap on the procedures for reporting this to your employer.

Wishing you a happy – and secure – Christmas.

Nigel Bamber, regional manager UK and Ireland, XL Group

This article was published in the 19/26 edition of Post magazine