It has been reported that the secret deals and hidden assets of some of the world’s richest and most powerful people have been revealed in the biggest trove of leaked offshore data in history. Branded the Pandora papers, the cache includes 11.9m files from companies hired by wealthy clients to create offshore structures and trusts in tax havens around the world.
<p><span lang=\"EN-US\">It’s hard to think of a more appropriate way to kick off Cybersecurity Awareness Month than with a massive data breach.</span> <span lang=\"EN-US\">The Pandora papers are a dramatic demonstration that software underpins everything we do—software is the critical infrastructure for all other critical infrastructure. Every business is a software business, and that now includes the organisations that help the wealthy hide their money.</span> </p>
<p><span lang=\"EN-US\">You can be sure that this incident raises awareness about cybersecurity and data security for the wealthy. Billionaires and the organisations that serve them will be sure to raise the bar in how they think about data security in the future.</span> <span lang=\"EN-US\">For the rest of us, this shows the importance of properly managing data and access to data. Software and processes that are designed from the ground up with security as part of every phase will have the lowest risk of inappropriate access or distribution of data.</span></p>
<p>Protecting oneself from the impact of any data breach is a challenge for most of the public. This challenge is made more difficult when the data from the breach is combined with data from other breaches or from other public sources. The end result is a situation where a user might be profiled and deeper insights into their life uncovered. This is also precisely what the wealthy are realising from the investigative work that produced the Pandora papers. While the reasons wealthy individuals have for using tax havens are many, the secrecy promises made by such havens are analogous to claims that any given process is immune from cyberattack. No process is completely immune from attack, and data is only as secure as the weakest aspect of the security profile used to protect it.</p>