The #1 Data Breach Management Strategy

Big business isn’t the only sector that’s benefiting from today’s emerging technologies. Criminals are also using the newer, more advanced digital tools to steal data from companies of all sizes. Understanding what these ‘data breaches’ are and how they happen is the first step to knowing how to properly protect your organization against them.

So, what is the #1 data breach management strategy?

It’s prevention.

What is a “Data Breach”?

A data breach is the theft of someone else’s protected personal information, such as company files, social security numbers, birth dates, and bank information, and more.

Cybercriminals often target the protected information of organization – namely, that of their clients and customers. In most jurisdictions, the law requires heightened security around private customer data. Companies that suffer the loss of consumer data due to a data breach often also face stiff compliance violation fines and penalties for failing to protect it appropriately.

How Data Breaches Happen

The challenge is understanding what a breach looks like, so you can protect against it. There are several methods that nefarious actors use to successfully enter the corporate datastores to steal protected information:

Criminals will hack directly into corporate databanks using advanced computer programming languages and techniques to bypass security perimeters and gain access to private processors.
Criminals also often introduce malware (such as viruses and ransomware) to gain control over corporate processors. Once the malicious programming has entered the system, its programming takes over security and other systems to gain control and extract data.
A particularly vicious attack happens when it is perpetrated by an employee who takes advantage of their position and siphons off resources and data. 62% of business users report they have access to company data that they probably shouldn’t see, according to the Ponemon Institute.

Defending Against Data Breaches

2017 became known as the ‘year of the breach’ because of the almost-record setting number of breaches occurring around the world.

The stunning total of data records lost per day? 5,076,479.

In response, it looks like 2018 will be the ‘year of data security’ as more companies explore ways to prevent or protect against data breaches. They’ve learned from others’ misfortunes. By taking preemptive action and establishing a robust cybersecurity strategy that encompasses their whole enterprise, they are more likely to detect and defend against a breach before it invades too far or prevent the crime from happening at all.

Preventing a Breach

The best way to manage a data breach is to avoid it altogether. The best way to avoid a breach is to have the planning and technology in place that prevents criminals from accessing sensitive materials:

Control access in general

Every person with access to data represents a potential gap in the data security perimeter. Limit access to your data to only those who explicitly need access to it. Additionally, everyone should use sophisticated access tools like multi-factor authentication procedures to ensure that only they can actually get through the security walls.

Comprehensive Employee Training

Whether your company does business over the internet or in a brick-and-mortar facility, your staff always needs extensive training on how to get and keep both corporate and consumer data safe from thieves. Your security plan should have both primary and ongoing training scheduled. That way, workers are always up to speed with the most current security best practices.

Access Professional Data Security Services

In most cases, the sophistication of the thief is beyond the comprehension of the victim company; most companies are more focused on their business than they are on their data security practices. A data security professional is always current with the latest cybercrime trends and will ensure that your enterprise is protected from them.

Your Organization and Data Breaches

As a business decision maker, you’re undoubtedly aware of the severity that is a potential data breach. Understanding the fundamentals of this crime will help you keep your organization protected from it happening in the first place.

Security management can quickly become overwhelming for organizations, as it requires proactive responses and constant monitoring. Working with a technology partner like Greyson will help you free up time to keep running your business without sacrificing your data to would-be cyberthieves.