For the past few years, data breaches have hit the headlines constantly. Attackers have stolen medical records, account logins, corporate emails, and sensitive internal enterprise data.
When a data breach occurs, companies usually hire outside investigators, notify regulators, promise to do better, and give affected people free credit monitoring. But we’ve reached a stage where you should consider signing up for such services anyway. Our information now sits in data dumps strewn all over the internet.
The reasons for and methods of cyberattacks or data breaches can vary. In some cases, such as the Wawa massive data breach, malicious malware began running on in-store payment processing systems. Allegedly, this malware potentially ran across all Wawa locations and their whole corporate network. The dates may vary, and some Wawa locations may have endured a limited variation of the malware. Still, the malware was present on most store systems by about April 22, 2019. It affected the payment card information of customers at potentially all Wawa locations. It began at different points after March 4, 2019, and ran until the company contained it.
With the Equifax massive data breach earlier this year, the case was a failure to patch a known vulnerability. Failing to patch in a reasonable timeframe has serious consequences for any software or library in use.
According to IBM’s latest annual Cost of a Data Breach Study, the average data breach now costs up to $3.92 million. That figure includes notification costs, investigation expenses, damage control, repairs, regulatory fines, and lawsuits. These costs have increased by 12% over the past five years.
How Do You Ensure You’re Not Next?
So what can you do to prevent a breach in your company? Well, first, you should understand that there is no one-size-fits-all approach. Instead, build your prevention plan and your disaster plan around the type of business you operate. Here are some tips to get any business started on better security:
Train your team and lock down devices
Train, train, and retrain. Your employees can keep you secure, but only if they know what to watch for. Teach every employee to choose strong passwords. Then show them how to avoid scams, dangerous links, and suspicious emails.
Secure your physical devices. Lock your electronic and physical devices when needed, so you limit access. Datacenter facilities, like Volico Data Centers, offer top-notch security for your equipment, so you have one less concern.
Don’t let devices facilitate breaches. Your IT team should know every device employees use. Install a policy on each device that blocks specific actions. If employees bring their own devices, consider blocking Wi-Fi connections.
Protect your data, network, and website
Keep track of your data. Keep your data in a secure location. If your data center is not safe, your business could be in danger. Only a few employees should know where you store confidential data. They should also know how you secure it.
Keep your network safe. You should use firewalls to secure your private networks. That keeps the sensitive information you send through your network secure.
Secure your website. Websites are another place where your data may be vulnerable. Use trust marks, SSL certificates, and strong authentication to keep out virtual trespassers.
Build policies that prevent data breaches
Set clear cybersecurity policies. Every business needs clear, well thought out security policies. Update these policies often, so every employee knows the current rules.
Dispose of items containing sensitive data correctly. Dispose of any paperwork or server with confidential data the right way. Selling used servers and computers is like handing over all of your data. Also shred anything on paper.
Require background checks. Companies can lower the risk of insider breaches when they screen all employees and run background checks.
The Human Element of Security Breaches
In the end, the human element will almost always be the weak link. That is why education matters in the workplace. Employees who aren’t familiar with IT need to learn, because they might accidentally hurt the company. For employees with a more malicious bent, the best defense is a vigilant eye and monitoring software.
In any scenario, you should have a firewall in place. It lowers the chance of an outside attack. It also gives you a way to review activity if an internal threat appears. Many firewalls also provide monitoring functions that show what employees are looking for. If nothing else, that shows the company is committed to stopping attackers.
Contact a Volico professional today to discover how our Managed Security Services can protect your business against data breaches.
Data breaches don’t have to disrupt your company or cause you to cease operations. With proper planning, your company can reduce the risks of data breaches. It can also learn how to respond when a ransomware attack occurs. Protection is better than cleaning up the mess. Don’t wait until it’s too late, and make sure a reliable anti-malware solution protects your business. Volico’s Managed Security Services is your best defense against ransomware and other advanced attacks.
