Lost or stolen mobile devices are a modern nightmare for companies as each device can contain gigabytes of confidential business data.
Smartphones and tablets are particularly problematic – according to some estimates from the USA, up to 5% of all smartphones are lost or stolen each year. Not even a tenth of the number of lost or stolen mobile phones is returned to their owners, especially if the devices went missing while traveling or outside the workplace. Of this, nearly two-thirds are official mobile phones, while the remaining third consists of smartphones personally owned by employees that are used for work.
The latter category is on the rise due to the BYOD (bring your own device) trend, which reflects companies’ increasing reliance on personal devices that employees want to use for both private and work purposes. The BYOD concept attempts to reconcile the user’s desire to use the latest smartphones and tablets that they are already purchasing privately, with the company’s recognition that it cannot justify the typically large and frequent expenses of constantly acquiring new devices.
Security First
Although this represents a significant financial loss, it could almost be said that this financial loss is a secondary problem. According to estimates from security company McAfee and the Ponemon Institute, over half of lost smartphones did not have even the most basic built-in security measures activated, such as pattern or PIN lock on the main screen of the smartphones.
Corporate IT and management can breathe a sigh of relief if a smartphone or tablet ends up in the hands of an ordinary thief who sees it only as merchandise for resale. Otherwise, any unprotected mobile device provides easy access to sensitive and confidential business data that can cause significant and various damages. For example, if the mobile device belongs to a company in the financial or medical industry, the impact of information leakage is twofold. In addition to the immediate damage to the bank’s client or the patient, the bank or insurance company, or the medical institution itself is exposed to significant penalties due to the potential misuse of data.
Therefore, managing mobile devices, or the set of tools and policies collectively known as mobile device management, is an indispensable part of the company’s security policy.
