Most businesses these days will have amassed a large amount of data, whether that is in the form of customer accounts, sales data, orders, financial transactions or employee details.
There is a large amount of sensitive information involved in any business, and with the implications of a data breach being far more reaching than just the company; it becomes vital for all businesses that the information that they hold digitally needs to be protected.
With the average cost of a data breach being £3.86 Million, it is easy to see why taking care of your digital information is such an important task.
There has been a spate of hacks on large companies in the last few years, including significant data breaches at giants such as Yahoo. When this happens, your customer’s information is not safe.
Taking email addresses, passwords, phone numbers as well as more sensitive details such as names, addresses and bank details can lead to your customers getting targeted and potentially losing their money too.
If you are taking customer data, you have an obligation to ensure that it is protected with the utmost security. Losing data can lead to thousands of people being put at risk of their information being used to buy products online or take out credit in their names.
What Can You Do Within Your Business?
Making sure that documents that are shared within your company only have the ability to be seen or shared between the relevant staff members is essential.
Ensuring that specific permissions are used on all of your files and folders will allow only the right people have access to that data, this cuts down on the risk of a potential rogue employee siphoning off data to be sold.
Make sure if you need to use file transfer software such as Digital Pigeon, that you ensure that it is safe and secure. Your team, clients and customers will want their information fast when it comes to moving data, but this should never be at a cost to security.
What If The Worst Happens?
If you think that your companies data is breached, then you need to act fast. Determine exactly what has been stolen. If there is customer data, then you need to hold your hands up and own up to this fact and let your customers know what they can do immediately to do to protect their data. Be specific about the type of information that has been taken.
Change all passwords immediately. Your business should have a practice of regular password changes anyway, but in the event of a breach, ensure that there is a clean slate.
If credit card data is involved, you will need to contact financial institutions to alert them. This will keep them on alert for strange activities surrounding related accounts.
Report the crime immediately. The quicker that the attack is reported, the better. Don’t wait to see what happens; get the authorities involved. They will also be able to signpost you for further support.
How safe is your companies data?