This 2018, companies are focusing on data security to avoid cyber threats and data loss. This is due to the growing concerns in data breaches performed by hackers across the globe. Taking action in order to secure your business from data breach is more important than ever.
The looming concerns over security and data breaches have been around since the beginning of the internet age, and with the intricacies of the web and our ever-widening interconnectivity, many businesses have taken measures to counteract cyber infiltrations.
These measures include but are not limited to: advanced systems of data filing, investments in high-tech equipment to secure business establishments, and trainings for different areas of security as seen with some sectors in finance undergoing pci training for employees to prevent cybertheft on cardholders.
Placing emphasis on these measures through the engagement of employees up to the executive level can greatly benefit businesses aiming to secure longevity in their respective industries. Whether it be start-ups or multinational corporations, the prospect of sensitive information falling into the wrong hands can spell disaster beyond the company’s jurisdiction, so the necessary measures in order to prevent such an event must be in place.
So what are the best security practices to keep your data safe from cyber attacks?
Why It’s Important to Safeguard Company Data
Data breach risk is higher for organizations and companies. The risk includes easily calculable cost of notification, company brand, business loss, and even customer loyalty. According to a report, the average organizational cost of a data breach in 2013 was $5.4 million while in 2014 the cost reached $5.9 million.
When it comes to the estimated cost of a general data breach, the report show $191 per compromised record in 2013 and $201 per compromised record in 2014. Good news is that you can minimize or avoid these risks by simply following the basic guidelines.
Protecting Your Company From Fraud
The following are proven security practices that will help you prevent data breaches and fraud.
Improve IT Security and Assess Company’s Risks in Data Breach. The best way to eliminate risks in your organization is to update your IT department. Evaluating remote project protocols, data storage, and employee exit schemes is important. Based on the evaluation, you can create new rules to safeguard your database.
Devise an Appropriate Data Breach Plan to Avoid Data Loss. Taking the initiative to address cyber threats will show that your company is reliable. By creating a good plan in minimizing data breach risks can help you handle actual events of data security attacks.
Make Sure Your Employees Understand How to Manage Sensitive Data. Computers and devices that contain critical data should be strictly kept in the company. You need to implement a corporate policy that will safeguard portable information that employees handle.
Keep Any Critical Information Safe from Cyber Thieves. The rule of thumb when handling sensitive information is to minimize data storage. For instance, keep data in selected locations. Do not store information in many places. Cleanup any data when they are no longer needed.
Keep Security Software Up to Date. Truth is, unpatched systems are easily hacked because they are operated with weak points. It may take time and effort to update your security software but when you do, it will guarantee top security for your data.
Technology’s continuing role in advancing data security and awareness have seen massive improvements over the past few decades and have branched out into multiple sectors and industries, proof that the need to fortify business undertakings at every level is growing and becoming an essential part of everyday transactions.
By utilizing these advancements and coupling them with a well-informed and highly-skilled workforce, the threats that seek to infiltrate valuable business data can offset attempts by hackers and cyberterrorists.
These security practices, when done correctly, will help organizations and companies across the world maintain data security on top level. Do you also practice these in your data management systems?