The spotlight on data breaches has been receiving increasing attention over the years, and for good reasons. The amount of data breaches has remained gradually increasing year after year. Presently, unless you often keep track of security news or have contact with security experts like us, a huge amount of data breaches remains swept under the rug.
A data breach can be a real tragedy for numerous businesses. Internal business and customer information data such as transaction history, inventory lists, and other privileged information being compromised is a consequence that no industry intends to experience.
Besides the direct financial effect, the damage of customer trust can injure a business’ operations.
Understanding what triggers a data breach is a gateway to preventing one.
The detailed description of the error may differ, but some scenarios include: • The usage of weak passwords • Sending confidential information to the wrong recipients • Sharing account information/password • Falling prey to phishing scams.
Since human error plays a significant role in breaches occurring, addressing it is key to reduce the company being targeted. Employee Awareness training can be highly beneficial.
Insider misuse can the deliberate misuse of a business's systems by an authorized user, usually for personal gain. Although, stopping insider misuse is practically difficult, harm can be restricted through controlling access privileges of information on company networks or cloud. The less files and systems a particular user can access, the tougher it is for them to misuse their access. However, the sharing of necessary data may be more difficult as well. Appropriate access privileges should be set in place to lower risks is being vulnerable.
Hackers are kept up to date with security trends and are evolving much more faster, making it fairly easy for them to access older updates of software’s. Keeping all systems updated is key to preventing an attack. Do not use unlicensed software that do not have automatic updates.
More than often, smaller companies/vendors that are business partners of more renowned organizations are targeted. The attackers use this as leverage to access various sensitive data of larger organizations. Keep your security protections and training up to date. Check if all business partners are up to date when it comes to cyber security compliance. In addition, consult with a security and engineering firm that specializes in compliance, information security and forensics to better assist you.