The impact of a business data breach has far more reaching consequences beyond just simply damaging its reputation – A cyber-attack can very well wipe out the company’s existence.
Two years is the average lifespan of a business suffering a major cyber attack with 90% closing their doors within that period.
It breaks the customer’s trust, costs a lot of money to fix, and can also expose serious vulnerabilities in the business itself.
So, instead of waiting to learn the hard way, we’ve rounded up four effective ways to help you tighten your business data security:
Housekeeping Rules – In-house Data Handling
Even if you have top-class security software, it’s not always your hardware that lets you down.
It might be the team, just as often.
Writing down passwords, sharing information unnecessarily, falling for phishing scams and much more can all make the business vulnerable and make it an open season for criminals.
You can help secure your business data by regularly renewing your team’s digital security training and establishing better data management housekeeping rules such as password protection, double-checking email senders, and keeping all devices and software updated.
If you’re asking customers for any data, then you need to ensure it’s completely secured.
A security certificate is now highly recognisable to customers, and they’ll avoid shopping from or entering data into websites that don’t have the all-important https.
In accordance with GDPR, you now need to also have a transparent notice and request for what kind of data you’re going to be saving and reasons for making use of it.
So be as open and honest with the customer – transparency for a business demonstrates integrity and trustworthiness.
Regular Protection Checks
If you handle a lot of data, then you need to invest in and perform constant cyber-security audits.
It can be more helpful if you use two-factor authentication for logins, ensure you have backups in the event of data loss and install the right digital protection software on all hardware.
Controlling the access of every employee, making sure they can only access what they need to and creating accountability for what is accessed at which time can help stamp out any threats lurking inside the business.
Most businesses are still not yet paperless and this paper trail can make some critical data easy to swipe away and give criminals information needed to commit fraud or get access to your systems.
A document shredding company can help you keep up with the necessary steps of effectively protecting your business data when you no longer need the print copies.
For any documents you have to store, ensure you have a secured, locked filing system and keep the key secured at all times.
You can’t stop every breach from happening, however, you can make your company a less likely target.