Be Aware of Data Breaches
Although Data Breaches are not an everyday topic of conversation, they do have the potential to affect the everyday function of a business. Falling victim to a data breach can mean extensive costs within the industry; the global average cost of data breaches cost an average of $3.86 million.
What Exactly is a Data Breach?
The potential for a data breach is one of the most dangerous aspects of having a business and customers that place their trust in that business. Defined, a data breach is a security incident that can involve unauthorized access and exposure of information such as account numbers, credit card access, personal information, and more.
The Herjavec Group estimates that a business will fall victim to a data breach every 11 seconds by the end of 2021. Statistics like these make it evident that hackers are highly motivated to break into systems and steal any type of information that becomes available.
The impact of a data breach to your company could be significant and may result in:
- Temporary or permanent loss of company data
- Complete shutdown of operation
- Financial loss due to shut down, customer attrition, and/or remediation efforts
- Damage to company reputation
What can you do to Protect your Business?
Whether they know it or not, businesses that do not take preventative action are constantly in a state of vulnerability. Visual Edge Technology offers the necessary technology, steps, and protection through a Breach Risk Prevention Checklist:
- Conduct Annual Risk Assessments: Security risk assessments can identify areas where your
system is strong and where it’s weak so you can take
appropriate action to resolve any open issues. - Back-up and Encrypt Data: Having data in only one location is risky because hard drives
and storage drives go bad without warning. - Control Access to Sensitive Data: Strict data access guidelines should be in place to manage
customer information, critical business files and company
systems. - Update Software and Licenses: It’s imperative that you keep your security software license
current, and software updated with the most current release
to repair security holes or fix bugs. - Update Policies and Procedures: Training employees on possible
security threats, and actions to take if a security threat is
identified can help prevent mistakes. - Monitor In-Network Activity: it is important for companies to have strong authentication, preferably two-factor, and secure connections in place for remote access.
- Evaluate Partners and Vendors: If you’re sharing data with partners and vendors or if they
have access to your systems, you may want to review their
security measures. - Create a Security Incident Response Plan: Even though security measures are in place, companies still
experience data breaches to their network and equipment
either through an intentional or unintentional act. - Reap Benefits of a Managed Security Provider: Even though security measures are in place, companies still
experience data breaches to their network and equipment
either through an intentional or unintentional act.
The threat is real, and business of all sectors need a cyber-security plan! Let's talk, contact us today to get the protection you need.
