International Business Jurisdication Assignment

• You are a regulatory compliance consultant working for International Business (IB), a firm regulated in a jurisdiction and sector of your choice. You are a member of a project team recently formed to develop the approach to data protection and confidentiality within IB, following identification of a number of recent minor incidents and near misses relating to these matters that have given the senior members of the firm, who are aware of them, cause for concern.
• On the customer-facing side of the firm, a recent monitoring review identified that, in a small, but nonetheless significant, percentage of the sample tested, information belonging to one client had been incorrectly stored in the online records of several others, seemingly owing to a data- input error. A brief analysis of breach incident logs undertaken over the past two days, for the purposes of gaining initial insight into practices in this area, has identified an increasing volume of near-miss breaches of this type in recent months, which involve employees from different departments and levels of the firm. IB is keen to address this issue swiftly to ensure there is no further occurrence of such incidents and avoid the occurrence of actual breaches.
• The project team has been provided with an appropriate level of resource to complete the project, as well as access to employees at all levels within the firm to assist in its implementation. The team has the full support of senior management. Members of the project team decide to commence an immediate, low-key, review of the approach to data protection and confidentiality within IB. This is carried out by you and three of IB's permanent senior compliance managers. You review logs, reports, guidance and training materials. You speak to employees in a variety of roles across the business.
• What you find supports the view that the weaknesses in these areas are indeed more than one- off lapses, that there does appear to be a pattern of issues/difficulties developing around these areas and that problems are widespread. Specifically, employees appear unclear on data protection and confidentiality requirements, and what is expected of them. You note in particular that the incidents have increased in frequency since the installation of a new record-keeping system in certain parts of the business and also following a shift to a paperless management approach several months ago, when all management and senior employees were provided with updated technology, including new phones and laptops. The challenges presented by this appear to have increased even further following the decision to increase the number of employees working from home.
• In light of these findings, you believe urgent action is required. You schedule a meeting with the Head of Compliance to discuss your findings and recommendations for action, before presenting these formally to the board.
• Taking into account all that has been said in the above scenario, prepare a report to use at the meeting to act as a basis for the discussions. This report should include a brief summary of your findings and explain why these findings represent a risk for IB if they continue. However, the report should predominantly focus on recommendations for action, supported by a plan of this action, to ensure that the risks arising from weaknesses in data protection and confidentiality are addressed both in the immediate and longer term.

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