If your business were to have a security breach and show that you have information security problems, this could negatively impact your profits. Not only would you have to have downtime when you rectify the problem, but customers will be less sure about using you in the future; they don't want to run the risk of having their sensitive information stolen, as this could result in either identity theft or losing money from their account (and potentially both).
The damage that a security breach could do to your business could be severe enough to cause you to have to close, and at the very least, you would lose a lot of sales. So, of course, it makes sense that you should put the right security practices in place to protect the information you collect within your business. Read on to find out what you can do to ensure that your business won't suffer from cybercrime, even though cybercrime is a growing problem.
4 Internal Safeguards to Protect Company Data and Security Breaches
1. Don't Save Everything
Depending on the type of business you run, and what sector you are in, you might need to collect a lot of data. The more information you collect – whether it's about your customers, potential customers, or employees – the more you'll need to do to keep it safe because you'll be more of a target for cybercriminals.
The problem is, that many companies save every piece of information they receive, but if a security breach were to occur, this would only put the business and their customers at greater risk – the more information you save, the more there is to steal. With this in mind, it's better to make it a practice not to save Everything. In this way, you are limiting what can be accessed should a cyberattack be successful. Think carefully about what you need to collect, and ensure you only have the minimum information in your files. Don't collect anything you don't require, and if the information is only to be used once or in a limited way, destroy it once you're done with it.
One way to determine what is necessary and what isn't is to understand more about data collection and data science. There are some excellent courses you can take online, for example, that will give you the information you need to be better able to determine what you do need to keep and what you shouldn't worry about. This not only keeps your business safer but also saves you a lot of time and effort in the process.
2. Keep an Information Inventory
There are many different places and ways to store the data you collect and the files you use. Just some of these include:
• Laptops
• Tablets
• Smartphones
• Flash drives
• Remote storage in the cloud
Some of these storage ideas are more secure than others, but no matter what option you feel is best for you, the truth is that the more places there are to store data, the more opportunities there are for cybercriminals to steal the data.
Something that will make things much easier all around is to keep an information inventory. This means that you know where Everything is stored, what is being stored, and who has the necessary permissions to access it. The inventory should include physical and electronic storage and will need to be updated when new employees start or old employees leave.
Having this information will help you when you need to find specific information, and it will help you determine how safe Everything is.
3. Stay Up to Date with Your Software
Unless you have a lot of knowledge about cybersecurity and how hackers can find their way into a business's networks, you might not think it's overly important to keep your software up to date. Certainly, when a pop-up tells you that it's time to update this program or that one, many people, including business owners, will ignore the message or at least put it off. After all, when an upgrade or update takes place, the device is out of action for potentially a long time, meaning that no work can happen. This is frustrating and annoying.
However, not updating when required can also be detrimental to your business's security. The older a piece of software is, the more chance there is that a hacker will have developed a way in, and shared that information with other cybercriminals. It's like having an old lock on a door and everyone having a key. It's far better to change that lock so that the keys don't work and criminals can't enter. Likewise, with your software, it's better to update it when it needs to be updated so that cybercriminals can't enter. If the updates are annoying and will cause you problems with productivity, reschedule them for when you're not working. You just have to remember to leave the device on and possibly plugged into a power source too.
Also, make sure that you have an advanced security system in place. Network security is an essential part of any online business. Many hackers operate on the internet, so it's vital to have a strong network security system to protect your business from outside intrusion. There are many different components to having a secure business, and it’s important to take advantage of them all! Security measures include SSL encryption, strong passwords, antivirus software, malware protection, multi-layered security methods, and more. The latest is so important today because hackers are continuing to break through security barriers.
One of the best methods of multi-level security is multi-factor authentication. You can employ multi-factor authentication to add a second layer of security for all user accounts on your network, VPN, and RDP sessions, or even for certain applications. When using Cisco VPN to secure your connection, you can add an additional layer of protection by enabling multi-factor authentication. With MFA Cisco, you can require the entry of a One-Time Password provided by a hardware token to access your network or VPN connections.
4. Store Physical Documents Securely
When you think of the security of your business, the modern world will probably lead you to consider cyberattacks first and possibly cyberattacks only. However, although cybercriminals are potentially a larger threat, there are also safety precautions you need to take to prevent physical documents from being stolen. If those physical documents contain sensitive information, you'll need to keep them away from anyone who might want that information for their own illegal means.
Although it might seem somewhat 'old fashioned', having a heavy-duty filing cabinet that can't easily be moved and that can be locked is a wonderful way to store this physical data. It's something that has worked for decades and will work for many years to come. Ensure that only the most trusted people in your organization can access the filing cabinet; you can even keep it in a locked room for extra security. When you are finished with the documents inside the cabinet, and you need to dispose of them, make sure you shred each piece of paper. Simply throwing the information in the trash is just not safe enough and could leave your business open to issues.
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