Your company can go out of business due to the security breach; Here’s how you can protect yourself

Almost all companies handle some information that could be misused if it is stolen or mishandled. For example, personal information, credit card numbers, company’s sensitive information, or social security numbers of clients and employees, can easily be exploited by hackers if such data is not protected properly.

A data breach can be a serious blow to any business, including loss of customer confidence, lawsuit or even knocking your business out of the market.

Most organizations today employ perimeter security systems, data encryption, strict policies, and employee education to prevent data theft and fraud. These are necessary measures, but they are not enough. It is crucial to use strict safety measures and controls to provide maximum security of the database.

That is why every company must protect their information and that of their clients, in addition to fulfilling their legal obligations. Below we have discussed how to comply with the rules of protection of personal data and to protect your business from a security breach.

 Make sure you comply with the necessary regulations

The regulations and laws have strict rules for data security. By ensuring compliance, you are already a step ahead in terms of data protection. You can hire an external expert to evaluate the level of data sensitivity and how you are protecting it. The expert will ensure compliance and will identify all the possible risks.

You may think you have protected your database and have no threats, but you still need to get your system evaluated.

Don’t save any private data that you don’t need

Do not gather or save confidential information in the first place if you do not need it. The personal information needed only for a certain time (at the point of sale, for example) becomes a liability if kept longer than required.

• Social security numbers should only be used for legal purposes, such as reporting employee taxes.
• The electronically printed receipts of the credit card must be shortened to only the last five digits.
• Have a valid and convincing reason to store the credit card data of the client for future use. The software that processes customer credit card numbers does not save that information.

Related Article: 5 things you can do to protect your business from cybercrime.

Physical Security

• Store all kinds of important documents in a locked location, provide limited access.
•  Employees should be asked to keep potentially sensitive documents locked away when not in use.
• Require employees to disconnect computers, close file cabinets, and secure their work areas at the end of the day.
• Limit employee access to external storage facilities and keep an entry record.
• Encrypt confidential information by sending it through external carriers and track delivery.

Now that you how you can keep yourself protected from breaches, we hope this piece was helpful for you.

Electronic Security:

General Network Security – Identify all the networks where private data is stored and evaluate the vulnerability of every network. Moreover, never make sensitive client information accessible through the internet, ensuring encryption of private data shared over the internet. Make sure antispyware, and antivirus programs are regularly performing their task and update the software when required.

Password management – Require secure passwords for every system and configure employee’s computers to crash after a period of inactivity. Moreover, immediately change the default passwords after installing the new software.

Laptop / Smartphone Security – Evaluate whether or not personal information needs to be stored on a laptop, eliminating unnecessary data with an “erase” program; Consider only allowing access to sensitive data without allowing it to be stored on laptops.

Firewall – Firewalls are hardware or software configurations that make it hard for the hacker to access your system.

Detect a Gap – Several intrusion detection systems on the market help minimize damage when a network breach occurs; Monitor incoming and outgoing traffic to detect unusual activities.