Data breaches have been in the news a lot lately. And it has many business leaders wondering:How do I avoid data breach from hitting my company? In truth, there is no end-all solution to data security. There are, however, plenty of steps you can take to reduce your chances of being victimized.
Below are a few tips on building a cyber policy that benefits your data security.
Keep Sensitive Information Siloed
One way to keep information safe is to limit the number of people who have access to it. This is known as 'siloing' and you generally see it in larger organizations. For instance, many large companies have an accounting department, sales department, and human resources department. All three may interact at one time or another but their duties are segmented and siloed.
This isn't always the case for small businesses. Your founder might be tasked with HR, sales, and accounting duties due to staffing limitations. The trouble arises when a single user is hacked because the hacker gains access to financial, employee, and client data.
The conclusion? It's much better to limit data access to only the individuals who need it most.
Live & Die by Encryption
Encryption is essential for storing and sharing sensitive information. Encryption keys allow only approved users (senders and recipients) to access the data contained within the storage container. It's like passing a note written in a secret language to your friend. Even if someone intercepts it, they won't be able to read a word.
The next time you want to save or share something important, avoid sending it via email or public Google Drive folders. Instead, stick to an encrypted cloud service or encrypted messenger.
Consolidate Your Users' Identities
A common rule in cybersecurity is that the more entry points you have, the more vulnerabilities you have as well. Staying safe online is kind of like hiding from a zombie attack. It's easier to board up one doorway than it is to defend two-dozen windows.
According to a Verizon report, 80 percent of breaches are linked to compromised credentials. You can dramatically cut your chances of suffering compromised credentials. How? By consolidating the number of identities (which is not the same as the number of users) with access to your data.
Implement Two-Factor Authentication (2FA)
While it may be easy enough to compromise sign-in credentials, it's much harder to illegally access an account secured by 2FA.
2FA requires a user to confirm a new sign-in via a second source, such as a text message. Since cyber crooks tend to work remotely, they won't have access to your cell phone. This renders their hacking useless.
Train Your Staff to Remain Skeptical
Social engineering and phishing are scams hackers use to fool an employee into sharing personal or financial information. This ill-gotten information can then be used for all sorts of deceptions, including identity theft.
The solution? Train your staff to identify suspicious messages; even from folks pretending to be a co-worker or family member.
Invest in Cyber Policy Insurance
Lastly, you'll want to invest in cyber policy insurance from a reputable provider. While these suggestions can assist you in keeping your data safe, there's nothing you can do to eliminate the threat entirely.
Nevertheless, cyber insurance can help you cover the costs of data recovery and network repair. Learn more when you compare quotes with CyberPolicy today!