Your reputation as a business owner is linked to your corporate security. If your company experiences a security breach that results in compromised business or customer information, you risk seeing sales fall and potential legal action from affected parties. To avoid data breaches that could result in huge financial losses, make sure to follow proper security procedures.*
Seven ways to keep your business data secure:
1. Implement strong password protection
Even the best security system in the industry is useless against a hacker with the right password. It may be easy for hackers to access computers remotely using the same manufacturers' passwords. To guard against this, you might consider changing all of your default admin passwords. You can further increase the security of your data by changing passwords at regular intervals and using complex passwords.
According to CNET another way to keep your computer network safe is to use a two-factor authentication system. This security measure uses two ways to verify a user's identity as an extra layer of security. The first is by logging into your account using a username and password and the second is by sending a PIN or message to a personal device or email inbox. Only after confirming your identity using these two methods can you access your account.
2. Restrict employee access to sensitive information
Although you may know all of your employees by name, the risk of worker-related data breaches is still high. Even if your employees understand corporate security policy, they may lose confidential information, or may not guard their credentials properly. To prevent employees and hackers from obtaining sensitive information, employers can consider restricting access to data to only what is needed for employees to work effectively.
Make sure employee access to sensitive data is restricted only to crucial staff.
3. Invest in solid IT security resources
Make sure to invest in great IT security resources that know how to patch up security loopholes. Reassess your IT security budget and consider putting more resources toward emerging threats. These may include threats for mobile devices, especially for companies with bring-your-own device policies, which allow employees to use their personal technology for business purposes.
A study by IBM and the Ponemon Institute revealed 50 percent of all companies do not have a budget for mobile security. This could leave companies vulnerable to the spread of malware and spyware found on apps, ZDNet reported. Mobile threats and other cyber-related risks could be addressed through a comprehensive IT security budget.
4. Regularly update security software and technology
The latest technology doesn't only mean having cutting-edge software. Technology updates are just as integral to protecting corporate security as the team behind them. Ensure your software is always updated because these new versions often contain repairs for recently discovered bugs. Through consistently updating equipment, you can ensure compliance with security standards.
5. Perform security audits and scans
Even if your company has comprehensive malware and firewall protection, be sure to perform security scans to remove any threats from your system. Often, firms will have malicious software working secretly in the background, which could result in data breaches that will go undetected for months or even longer. Schedule regular security scans and audits to check the integrity of your computer systems against common threats.
Phishing attacks could put corporate information at risk for data breaches.
6. Educate workers on phishing attacks
There is a high risk that workers will compromise a company's systems because of an infected email or link. Train workers to avoid phishing attacks when hackers try to mask themselves with legitimate messages. This will educate them on how to recognize these emails and ask that they avoid clicking on any suspicious links or responding to hackers.
7. Plan for disaster recovery
Many companies are not prepared for data breaches, especially when it comes to recovering stolen or lost data. According to a 2014 Ponemon Institute study, a plan in preparation for security incidents could significantly reduce the cost of a data breach. Only 73 percent of companies had a data breach response plan in 2014. While this is an improvement from the previous year, many firms still lack the proper measures to recover from a data breach disaster. There are a lot of options out there that could prevent your company from becoming another data breach statistic. Consider doing your due diligence. The safety measures taken now could prevent headaches and loss of business later.
Invest in proper data protection for your business.
*This article has been prepared for general information purposes only. The information presented is not legal, financial, tax or accounting advice, is not to be acted on as such, and is subject to change without notice. Credit approval is subject to LoanMe's credit standards, and actual terms (including actual loan amount) may vary by applicant. LoanMe requires certain supporting documentation with each new application. If you have any questions regarding this, call us at 844-311–2274. California loans are made pursuant to LoanMe's California Department of Business Oversight Finance Lenders Law License #603K061. LoanMe also offers loans in certain other states which may have higher minimum loan amounts. Copyright © 2015 LoanMe, Inc. All rights reserved.