Protecting customer and employee data should be at the forefront of any CEO's mind. Working with cyber insurance companies for coverage helps only after the damage has already occurred. Your IT department needs to have plans in place to keep your company's data secure. By focusing on the following three areas, your business will be in a better position to prevent a data breach before it happens.
1. Keep Security Up-To-Date
Security cannot be effective if the software is outdated or policies do not align with the company's current technology. Since poor management of internal security is a prime source of hacker attacks, it is advisable to regularly check your systems.
Patches and Security Updates
Having software that is not up-to-date does your business no good. Many hackers specifically search for outdated versions with exploits that have been patched. These vulnerabilities can provide back-door access, and using software that hasn't been updated is essentially inviting trouble. All devices on your network should be checked for updates immediately.
Life Cycle of a Record in Records Management
Data security extends beyond software updates and includes how records are managed throughout their life cycle. Records management follows a structured process: creation, use, maintenance, storage, and eventual disposal. Each stage presents opportunities for security risks, and if not properly handled, outdated or improperly stored records could become vulnerabilities. Keeping security up-to-date means ensuring that records retention policies are aligned with cybersecurity practices. Proper records management ensures compliance with legal requirements and strengthens an organization's overall data protection strategy.  Â
Multi-Factor Authentication
Hackers can exploit various forms of negligence. From finding passwords on sticky notes to breaking into networks with stolen credentials, there are numerous ways that knowing a password could allow unauthorized access to your data. Multi-factor authentication helps protect against these kinds of attacks by requiring verification of identity from a second device. This system alerts the account holder of any login attempts, allowing your staff to quickly detect potential threats. Once an attempted breach has been identified, employees should be encouraged to notify the security department immediately.
2. Employee Awareness
Unfortunately, employees are often the most likely source of a breach. While they might not have malicious intentions, they may be unaware of the cunning methods hackers use to exploit poor training. Educating your staff on the basics of cybersecurity will help them make fewer mistakes.
Understanding Phishing
Phishing attacks, where hackers masquerade as official companies, are some of the more insidious methods used to gain access to secured data. Since this is a common tactic, your staff should be prepared to identify and handle attempted intrusions. If an employee does fall victim to one of these schemes, they should be encouraged to come forward without fear of reprisal from management. After all, that's what cyber insurance companies are for!
Educate the Entire Business
Cybersecurity knowledge should not be confined to the IT department. The entire organization should be frequently trained on up-to-date security practices. From the conference room to the mailroom, every employee should understand the risks of data theft and know basic techniques to prevent it. Board members may also wish to have updated policy information from cyber insurance companies to provide peace of mind.
3. External Threats
Your company's data security is not only about internal management. External factors, including the businesses you interact with, play a significant role. Some businesses even outsource their IT infrastructure, which can specifically place their data at risk.
Third-Party Access
If you work with an external cybersecurity team, they can access your data. While you may have thoroughly investigated the organization, it's essential to review their data security policies as well. If they are not significantly better than your own, it might be time to find a new information storage partner.
Supply Chain Issues
When dealing with suppliers, it's possible they have been given limited access to your network. While this might facilitate business operations, it could pose a significant threat to data security. If one of your supplier's networks is breached, you could be subject to a supply-chain attack that exploits their network connection. These schemes target a weaker link to gain access to larger targets.