In September 2019, New South Wales police issued a warning about scammers making use of file sharing software. “The scammers use a perfectly legitimate app,” the police said, “but they are misusing it.
NSW police cybercrime squad commander Matt Craft. “These types of scams are becoming more common, so to speak.
In New Zealand, the Government Communications Security Bureau warns system users against free file sharing apps:
Personnel using peer-to-peer file sharing applications are often unaware of the extent of the files that are being shared from their workstation. And when personnel receive files via peer-to-peer file sharing, IM or IRC applications they are often bypassing security mechanisms put in place by the agency to detect and quarantine malicious code. Personnel should be encouraged to send files via secure channels. “
File Sharing is a key function for Board Members
Boards of directors need to share files regularly. Board members write memos and notes that they must share with their colleagues. Board committees need to share reports, recommendations and other types of material. The company secretary must share books and documents with the entire board. This activity is an essential driver of board performance. As the Australian Institute of Company Directors notes , boards are under pressure to improve their performance.
This need to improve performance without adding costs. Once the concept of electronic file sharing has been introduced, several apps have been introduced into the market, and some of them are being offered for free. However, as with anything that comes for free, let the buyer beware.
Secure file sharing and secure data
As Australian consultant Fahmida Rashid explains , file sharing is difficult to manage. “How do you know who and what, when and who received it? How do you make sure sensitive files are safe and that they are retrieved? “
To solve these issues, many companies have opted for easy and cheap solutions like Dropbox or Box. “But those are not good options if your business is subject to data security and privacy regulations. Sensitive data and proprietary information needs to be provided according to regulatory requirements, “Rashid adds.
Where security measures are actually in place, they are often misused, according to a study by the Ponemon Institute. “Misconfigurations of file sharing and collaboration tools, as well as cloud computing services, are common issues that may result in the disclosure of sensitive data. Too often, access, authentication, encryption and other security controls are either disabled or left with default settings, which may lead to unauthorized access to or disclosure of that data, “the study shows.
Managing File Sharing
Part of the solution reads about the dangers of using non-secure applications when transferring business files. Companies should have policies against sending personal or business information via non-approved electronic apps. They are simply not protecting company information.
The simple nature of the policy is subject to cybercrime. While the advances in technology have brought commercial evils, they hold the potential for protective solutions.
A high-quality board management software solution should provide secure file sharing solutions. Certainly, there is cost associated with high-quality board management software, so many boards may consider working with free file sharing software.
This free software may not cost money at the outset, but it is quite likely that hidden costs will arise. Free board management software does not offer the level of efficiency that a high-quality board portal offers. The intensively integrated interworking of all parts of the high-quality portal is just not achievable without a price.
This lack of efficiency costs time, and, as we’ve seen, time pressure is intense on boards of directors. Free software thus goes down more often, and the time lost of board work is a real cost to consider. Meeting agenda and minutes software should offer board members efficiency as well as accuracy.
There are also board management software providers who offer free trials for a limited period. It’s important to remember that a “free trial” is simply a marketing ploy. The software will not operate for a long enough period for your organization to really try it out. And so it’s usually limited in functionalities, so trying to do it will not provide a clear sense of how it will operate in full. The program does not allow access to all its features until payment is made, and then it’s too late to change.
To be assured of the best functionalities and security, the total solution for cybersecurity is a management software solution by Diligent Corporation with state-of-the-art security, file-sharing capability and a secure workflow app. Diligent Boards and Governance Cloud offer granular controls and continuous monitoring to prohibit internal and external theft of data. The platform offers unlimited document storage, and it’s the most efficient system for meeting management, automated workflows, secure communication and compliance.
Cyber protection begins with employee training and good policies. With the addition of a secure file-sharing application that is highly secure within a highly secure platform, the director does not want any of the problems associated with free file-sharing solutions.
Diligent Governance Cloud is the leading platform for board meeting software
Diligent Governance Cloud offers applications for file sharing, meeting agendas, meeting communications, and meeting minutes at the highest level of quality and that allow for end-to-end governance.
The Board of Directors of the Board of Management of the Board of Directors Governance Cloud boasts high-level security in each of its programs, including the portal portal, secure messaging, minutes programs, board evaluations, conflict-of-interest questionnaires and enterprise management software programs. Having a fully integrated Enterprise Governance Management system wants to be the board of directors in developing governance frameworks that work for the benefit of the board, the managers, and shareholders.
January 4, 2021
How Persona-Specific Dashboards Can Ease the Burden of Information For Paralegals
The paralegal is one of the most sought-after and busy people in the legal operations team. Not only do they have plenty of work to do in entity management, it’s likely they are also fielding queries from all over the organisation asking for specific…
February 20, 2020
Risk Oversight and the Board of Directors
Because of cyber risk’s high impact and unpredictability, board directors must have at least a passing familiarity with it and other emerging risks. It’s a challenge; technology is always changing, and even tech-savvy leaders can find it difficult to keep up with the latest developments. Modern board directors need information…
January 30, 2020
Voice Assistants in the Boardroom: The Pro’s and Con’s
Australians are going crazy for voice assistants – they are selling faster there than in the US, according to Voicebot.ai, and 5.7 million Aussies already have them. They are becoming popular in New Zealand too, reportedly, although there has been some scarcity…