How We Protect Client Data

As a fintech business, our operational model depends heavily on digital data processing and data security due to our regulatory obligations. At Aston, data protection is more than a requirement; it’s a core value.

Guernsey’s Office of the Data Protection Authority (ODPA) recently published a new resource on data protection. The guide provides businesses with clear guidance on collecting personal data in accordance with the island's Data Protection (Bailiwick of Guernsey) Law, 2017 (the "Law"), which closely aligns to the EU’s General Data Protection Regulation (GDPR). You can find the guide here: Data collection · ODPA . In addition, ODPA also published a good “lessons learned” document last month which revealed the main cause for data breaches on the island was wayward emails. These are emails which contain personal data and are sent to the wrong person (“disclosure”).

For Aston, data protection is more than a legal requirement, it is a fundamental component that supports all aspects of our business. Most importantly though, it protects our clients which is Aston’s greatest asset. We recognise and prioritise the importance of robust data protection practices and understand the legislative nuances of the different jurisdictions we operate in.

At Aston CM (Guernsey) Limited, we use a variety of strategies to protect our clients’ information, such as:

- Training and awareness of our staff. This is pivotal to the success of data protection. Regular training ensures staff is aware of their responsibilities in handling clients’ data. This greatly mitigates the risk of wayward emails mentioned earlier.

- Encrypting data both in transit and at rest. Encryption guarantees information is kept private and safe from unwanted access not only during transmission, but also in storage.

- Keeping access-controlled, secure storage facilities reduces the risk of data breaches by limiting access of critical information to authorised persons only.

- Regularly carrying out system updates and security audits helps us remain proactive in identifying any weaknesses that could potentially lead to possible attacks.

Why does Aston maintain such high standards? Because data protection is critical to our success for two main reasons:

1 - Clients’ trust

In a crowded marketplace, trust is paramount, and clients prioritise working with companies that value their privacy and data security. Our clients rely on us to protect their sensitive information and new customers want to be reassured their data is safe with us. Stringent data protection practices help Aston to build and maintain customers’ trust and confidence.

2 - Business continuity

Robust data protection measures act as a shield against costly data breaches that can disrupt our operations and result in not only financial losses, but also reputational damage.

Even with the above already in place, we are dedicated to continuously enhance our practices to meet evolving standards. This ensures our clients' data is always safe and secure. Implementing this dynamic approach echoes the Bailiwick’s Data Protection Commissioner, Brent Homan’s, statement which read: “It is so important to view security safeguards as a dynamic rather than static responsibility.” We cannot agree more.

For further information on Aston’s services and how we can support you, please contact a member of our team at www.astoncm.com.