TruPoint’s Data Security Guide for Bankruptcy Trustees Featured in CAIRP Magazine
We’re happy to share that TruPoint’s article, Data Security Requirements for Bankruptcy Trustees: A Comprehensive Guide, has been featured in the latest edition of Rebuilding Success magazine by the Canadian Association of Insolvency and Restructuring Professionals (CAIRP). The article offers critical insights into the growing importance of data security for trustees in an increasingly digital environment, highlighting the best practices trustees should adopt to meet compliance standards and safeguard sensitive information.
Why Data Security Matters for Bankruptcy Trustees
Insolvency and bankruptcy professionals handle large volumes of sensitive financial data, making data security a top priority. With cybercrime, particularly ransomware, identified as the number one threat to Canadian businesses (according to the 2023-2024 National Cyber Threat Assessment), it’s crucial for trustees to implement strong security protocols. Ensuring compliance with regulatory directives, like the OSB’s Directive No. 32R, is just one part of the overall strategy to prevent data breaches and protect client information.
Key Focus Areas from the Article
The article in Rebuilding Success outlines the necessary steps trustees need to take to bolster their security practices. It emphasizes the importance of:
- Electronic recordkeeping compliance, as specified by the OSB, to maintain data integrity and accessibility.
- Using secure cloud-based solutions to ensure trustees can access critical applications and files remotely without compromising on security.
- Leveraging managed compliance solutions to simplify adherence to regulatory requirements, such as PIPEDA, while minimizing the risk of cyber threats.
These solutions are designed not just to improve security but also to help trustees streamline operations and focus on core business tasks without the constant worry of data breaches or non-compliance.
Where to Learn More
Want the full story? You can read our detailed guide in the Rebuilding Success magazine, where we go into depth on how bankruptcy trustees can address modern security challenges and ensure they meet legal obligations.
- Read the digital edition of the magazine here (see pages 56-59)
- Or access the article directly on CAIRP’s website here.
The TruPoint Advantage
At TruPoint, we offer tailored IT solutions that address the unique security and compliance needs of bankruptcy trustees.
TruPoint is an authorized partner of First Canadian Title, Promeric the creators of Ascend. TruPoint Bankruptcy Trustee customers can run their Ascend application in the cloud in order to meet their security and compliance requirements while giving their users enterprise class work-from-anywhere flexibility at an affordable price.
Interested in learning how we can help? Get a free trial of TruWorkspaceTM, or talk to a sales engineer about how TruPoint can help meet your IT needs.