Many people are hearing about news regarding a data breach. Consumers are now wondering how this is always happening. It would appear like companies must be more serious about their data security. Needless to say that a data breach can cost millions and can tarnish the reputation of the company involved.
Consumers may recall that Target was breached back in 2013. Shoppers became worried about shopping at the retail giant. Now, the data breach has cost over $90 million and nothing can help them measure the damage to their reputation. Just like other stores, Target stores are suffering from the trend wherein consumers prefer to shop online. A lot of surveys confirm that shoppers are reluctant to purchase at smaller online stores. The general belief is that bigger stores have better cybersecurity.
This theory was questioned when JP Morgan Chase, the largest banker in the nation, lost the personal information, addresses, and names of 76 million customers. Data breaches as such will diminish public trust and cause shoppers to stop shopping online even more.
So how could you prevent this from happening to your business?
Restrict Data Access
In the past, every employee can access all their computer files. These days, firms are starting to learn the hard way, to restrict access to their more important data. After all, there is no reason for an employee who work in the mailroom to access accounting documents. If you limit those who can view certain data, you will narrow down the pool of people who may click on harmful links accidentally. As companies move forward, you should expect to see all of the records to be partitioned off so that just those who distinctly need access can access it. This is only one of those common sense methods that firms need to do.
Third Party Vendors Should Follow
Companies work with different third party vendors. It’s more crucial to know who these individuals are. Firms could even open themselves to legal cases by letting strangers to get into their premises. What if the person who delivers the office supplies just got out of jail? You should consider this carefully. Apart from that, make sure to restrict the kinds of documents that vendors can view.
Perform Employee Security Awareness Training
According to the latest surveys, employees are considered to be the weakest links in the chain of data security. Even with training, staff open suspicious emails on a daily basis that have the possibility to download viruses. Among the mistakes that employees make is believing that one training class about cybersecurity is enough. In case you are serious about protecting your crucial data, you should schedule regular training every month or quarter.
Update Software On A Regular Basis
Cybersecurity experts suggest to keep all application software as well as operating systems are updated on a regular basis. Install all of the patches when possible. Your network will be vulnerable if the programs are not regularly updated and patched.
Create A Cybersecurity Breach Response Plan
Your business must have an in-depth cybersecurity breach preparedness plan because it will allow both the employer and employees to know the possible damages that may happen.