As the digital age becomes more complex by the day, the importance of data security is rising exponentially. Being vulnerable to possible data breaches, fraudulent charges or the leaking of sensitive information can mean disastrous consequences for any business, be it small or large. Data breaches can be very expensive for companies in more ways than one. The possible loss or theft of sensitive or confidential records could potentially mean hefty expenses financially and result in the loss of customers and business partners as well as lead to negative media coverage or general public opinion.
There are ways to protect against data breaches that should be employed by all businesses, especially those who rely heavily on technology and process large quantities of personal data. From cyber insurance to everyday business practices, every organisation can take steps to improve their digital security.
Keep reading to find out the best methods to implement in your business to avoid any detrimental security problems.
Secure Software
The first and possibly the most obvious way to reduce the threat of a security breach includes using the right software on your hardware. Digital companies especially should ensure to employ a dedicated firewall which acts as a secure gateway between networks to limit the traffic that is allowed to pass from a trusted, internal network to an untrusted, external network, such as the internet.
With the ever-increasing use of mobile and wireless access points as well as cloud computing and the rise of external payment service providers, it is fast becoming imperative to make use of the best firewalls to reduce the risk of a data breach.
The most advanced and secure firewalls often include a security software suite called Unified Threat Management (UTM) which allows companies to use the same firewall software throughout their organisation on multiple networks, thus making the job of any IT specialists slightly easier and avoiding the need for multiple products on separate servers. Also, they employ Intrusion Detection and Protection (IDP) systems to boost data security and protect against possible cyber attacks.
Business Operations
Another vital method of reducing the possibility of security breaches is using employees to aid in prevention. Many companies do not take full advantage of their resources in this matter. Firstly, business owners and managers should engage in periodic risk assessments to ensure that they have the most up-to-date software and security protocols in place. This way, if there are new threats or emerging technologies that can help protect their security, businesses can learn about them quickly and take the necessary action before they become an issue.
Employees are a business’ biggest asset and many companies do not take full advantage of how their daily tasks can help improve security protocols. By training employees to recognise suspicious customer behaviour or activities through payment providers, a company can ensure to be acting responsibly and actively employing prevention tactics.
Another vital aspect that businesses should be implementing in their fight against security breaches is the use of a preparedness plan, a response team and even a chief security officer. These elements can help a company to act quickly in the event of any data violations. The team and security officer will be able to implement the plan in order to reduce the costs of a breach and take the necessary steps to respond.
Finally, it is essential that those involved in companies where data security must be considered are well versed in the corresponding laws and requirements so that they can avoid fines and meet legal expectations in the case of a breach.
Security Towards Suppliers
When it comes to working with other businesses, suppliers and external partners, companies must make sure to evaluate all contracts and vet the third parties for their data protection and privacy practices before agreeing to do business. It is also highly advisable for companies to have outside vendors that are specialised in privacy and data protection on hand. These vendors can then carry out investigations and speed up processes in case of a breach.
Keep Ahead of Security Threats
Taking into consideration all of these practices, a company will be able to improve security greatly and decrease the risk of possible cyber attacks. Due to constant emerging technologies and developments in software, to avoid any major issues, it is important to keep updated and invest the necessary money and resources to be consistently ahead of the curve on this matter.
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Founder Dinis Guarda
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