The risks associated with data security are high; if leaked, it could be detrimental to your case and your business. The average cost of data breach incidents could reach up to $2.82 million, according to a study sponsored by IBM in 2015.
For small companies, data breach does not only mean a potential lawsuit, but could end in bankruptcy. Data protection must be top priority for any organization and a component of its day-to-day strategy. To tighten your data security and prevent risks, follow these five steps:
1. Security policies
Implement policies that outline employee data access. Understand which employee needs access to which data and review those permissions regularly. Enforce strict passwords that change frequently. Have a clear BYOD policy and do not allow any personal device to connect to your network unless it complies with your security policy.
2. Data protection
Monitor all of your sensitive data, track any changes and monitor access to those files. For example, if a file was modified or copied to a different location, this should be recorded and immediately noted. Consider investing in data encryption and dual factor access authentication.
3. Vulnerability and patch management
Make sure all software is up to date with the latest security patches. This includes all computers, servers, internet browsers and smart devices. Use a threat management tool to scan your network for any vulnerability and perform penetration testing periodically.
4. Invest in new technologies
Attacks and intrusion techniques are getting more sophisticated than even before. Hundreds of new malwares are released every day. Fortunately, there have been developments in a new generation of firewalls and endpoint security. Investing in new technologies will help you stay one step closer to safety.
5. Train your staff
A majority of attacks happens due the lack of basic security knowledge of employees. Incorporate security training programs, teach best practice, and keep your staff aware of the latest threads such as spam emails and phishing websites. Security is everyone’s job.
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