Don’t Fall Victim to a Data Breach

Data security has become a major business concern in recent years and the risks to customer privacy and a company’s reputation are great. As hackers continue to find more sophisticated ways of attacking digital systems, businesses must take action to ensure their data is secure. Most data breaches can cause irreparable damage, resulting in costly legal fees, lost time during recovery operations, loss of customer trust and public relations issues that can last for years – all deeply affecting your bottom line. Don’t be caught off-guard; learn how you can protect your customers’ confidential data from falling into the wrong hands.

How does a data breach happen?

Data security is a critical factor for any business, a cyber attack can cause significant loss in terms of both finances and reputation. In simple terms, a data breach involves the unauthorized access of sensitive information belonging to a company or individual. It can happen through malicious software by cyber criminals who are trying to steal data, but it can also take place due to security lapses related to hardware and software.

Data breaches can include with the intentional interception of personal details of data, such as credit card information or contact details; but it can also involve something unintentional like an employee leaving their laptop open and unsecured. Whatever form a data breach may take, it is an important security issue that you must address quickly and efficiently.

Unintentional data breach

Unintentional data breaches can be just as damaging as those that are malicious. In most cases, unauthorized access to protected data is a result of security breaches, which could include weak passwords, outdated software and incorrect configuration of systems. Companies should always be vigilant in understanding their operating systems and the associated risks. Taking proactive steps such as regularly updating software, encrypting private data and creating a culture around data security can greatly reduce the risk of an unintentional data breach occurring.

Targeted data breach

Targeted data breaches are becoming increasingly concerning. These data leaks occur when malicious actors gain unauthorized access to a computer system, network, or other type of digital asset in order to steal data. Cyber criminals take advantage of security flaws in systems that may allow attackers to gain access to confidential data such as usernames, passwords, and payment information. Businesses and individuals must remain vigilant in protecting sensitive information from these malicious parties. Taking pro-active steps such as updating firewall solutions, utilizing complex passwords, and enforcing multi-factor authentication can help protect against targeted data breaches.

Consequences of a data breach

A cyber attack that causes data breaches to critical systems can be disastrous for businesses. The financial costs of a major data breach can be overwhelming for companies that suffer from the theft of proprietary information, credit card details, and other sensitive data. Customers can also face the painful reality of identity theft and the long-term implications that come with it, including the potential to damage personal credit ratings.

You may not be aware of an attack on for days or weeks. Your customers may not know they’re affected by a data breach until they try to access their own accounts. That’s why, it’s imperative that your business takes proactive steps to secure business data and sensitive information that can be accessed by known and unknown threats.

Impact on Businesses

As technology evolves, it becomes more and more difficult to protect confidential data and personal details from a massive data breach. Your business must remain vigilant in order to stay one step ahead of hackers, as the consequences of failing to safeguard your system can be disastrous.

Financial Impact

  • Decreased sales due to downtime
  • Unplanned legal fees
  • Added cost of security equipment

Reputational damage

  • Loss of customer trust
  • Decrease in stockholder confidence
  • Higher turnover for senior leaders

Access to Critical Data

  • Financial information
  • Patents
  • Customer personal data
  • Employee data
  • Operational information

Protecting your business

Protecting systems and taking steps to prevent data breaches should be a top priority. There are security measures that you can focus on to improve protection of your critical infrastructure and from security threats.

  1. Security solutions. Specific solutions such as endpoint security and threat intelligence should be implemented. These security solutions detect malicious activity and alert you when suspicious activity occurs or there’s a security incident.
  2. Manage access. Ensure that access privileges to information is only for the necessary requirements to perform job duties.
  3. Ongoing training and education. Educate employees on cybersecurity best practices such as password security, safe browsing habits, and other security protocols.

When these security steps are followed consistently and regularly reviewed for areas of improvement, there is a greater chance that your business’s sensitive data and critical infrastructure will remain secure, and you’ll be able to prevent data breaches.

Tips to prevent a data breach

In an ever-evolving digital landscape, you must be proactive in safeguarding customer data against potential security threats and malicious software.

1. Follow state requirements

Understand the various state requirements fo sensitive information. Ensure that only essential details are secure via physical or electronic sources.

2. Store only minimal information

Limit stored records of customers. Physical documents should always remain locked away. Grant access only for trusted long-term employees – never temporary workers or vendors!

3. Dispose of sensitive info

For confidential data that needs to be secure, you should shred sensitive documents before throwing them out. Completely wipe or destroy portable hardware before you dispose of them. Additionally, make sure that you copiers include settings that clear all data after every use.

4. Secure data

Keep your data safe with secure passwords and encryption for added security. Lock all devices after a short period of inactivity. Encrypt emails both when stored or sent to ensure confidentiality.

The future of data security

As technology continues to revolutionize our everyday lives, the question of how to keep data secure looms large. Risks posed by cyber crime and hackers ability to gain unauthorized access to a company’s critical infrastructure and the theft of confidential information have prompted the development of enhanced security measures.

To maintain security and protect against compromised data, more companies are investing in sophisticated encryption protocols, AI-driven anomaly detection, and artificial intelligence software designed to sense any intrusion attempts and alert decision-makers in near real-time. Businesses must also focus on implementing these tools correctly throughout all layers of their enterprise architecture.

As digitalization pervades our society even further in the years ahead, data breach prevention and data security will remain an ongoing priority for companies operating online that need to build trust with their customers.

Visual Edge IT, Inc. (VEIT) specializes in managed IT services and security, cloud computing, and print/copy solutions for businesses across the U.S. including remote office locations. We offer a full line of office technology and services including 24/7 remote monitoring and administration of networks, service desk, and data backup and restore to improve business processes across a variety of industries. Plus, Visual Edge IT™ represents the industry’s leading manufacturers of office technology allowing businesses to get equipment, supplies and service from a single source. Backed by more than 20-years of technology service and a national network of expert engineers, VEIT is uniquely positioned to support business technology needs. The company is headquartered in North Canton, OH, USA. Request your no-obligation assessment today and get a free dark web analysis.