Understanding Data Breaches
Today, data breaches face an overwhelming majority of organizations all over the globe. Such disruptions tend to have a longer-lasting effect than just the initial financial impact, as health institutions face the risk of losing public image and later on customers. For example, in recent figures released by the industry, the total average cost of a data breach is nearly $3.86 million. In addition, it can take an average of about 280 days to detect and control a breach. The most recent studies, especially coupled with the mass shift to working from home due to the global pandemic, have made this issue even worse. As many as 76% of those surveyed indicated that remote work led to longer times before a breach was identified and fixed. This suggests that the costs associated with remote work can be around $137,000 per breach.
Common Causes of Data Breaches
In order to avoid similar security lapses in the future, it is imperative to first appreciate how such lapse happens. For instance, several common causes of data breaches include but are not limited to the following:
- Unauthorized Deterrents
Being in possession of unauthorized objects is a common practice among hackers who access confidential data, such as documents, computers, cell phones or other devices. This trend enhances the chances of unauthorized reproduction of sensitive data.
- Interpersonal Relations
Attacks on privacy are not left out as they include phishing scams to obtain private details of users. This is often through the use of deceitful messages requesting for account or personal details, for example, where the person is told there is a promotion or targeted offer to compete for.
- Mistake on the Part of The Person
It is alarming that approximately 52% of data breaches do not occur because of an actor’s intent, but rather due to mistakes made. This is followed by careless incidents in which sensitive content, such as email addresses, are inadvertently exposed, for example, by sending emails to the wrong individuals or not safeguarding the information properly.
Best Practices to Prevent Data Breaches
Given the outrageous expenses linked to data hacks, it is important that companies take strong protective steps. Here are twelve best practices to help lessen the chances of a data breach occurring from small businesses.
| Best Practice | Description |
|---|---|
| 1. Educate Your Employees | Ongoing training to help employees understand data protection, strong password creation, and how to spot phishing attempts. |
| 2. Create and Update Procedures | Establish and consistently update data security standards and procedures to clarify expectations. |
| 3. Remote Monitoring | Utilize managed IT services to ensure continuous monitoring of network activity. |
| 4. Data Backup and Recovery | Implement regular automated backup systems to recover lost data quickly after an incident. |
| 5. Keep Only What You Need | Regularly review and minimize the amount of sensitive information stored to reduce the risk of exposure. |
| 6. Destroy Before Disposal | Properly destroy confidential materials before disposal, utilizing shredders and software to wipe devices. |
| 7. Safeguard Physical Data | Securely store physical records and limit access to authorized personnel only. |
| 8. Empower Employees with Best Practices | Train employees on the risks associated with certain online activities and encourage work-related use of devices only. |
| 9. Maintain Up-to-Date Security Software | Invest in and regularly update security software, including firewalls and anti-virus solutions. |
| 10. Encrypt Data | Prior to transmission, ensure that sensitive data is encrypted and restrict access to secure networks. |
| 11. Protect Portable Devices | Require strong passwords and anti-theft measures for portable devices to prevent unauthorized access. |
| 12. Hire an Expert | Consider hiring a security professional to assess and enhance the organization’s data protection strategies. |
Conclusion
The advancement in information technology has led to increased vulnerability in terms of data breaches, hence the need to take appropriate steps to protect sensitive data. Such best practices are critical for the operational focus of organizations, more so for small businesses, which are at risk of incurring huge economic losses from data breaches. By promoting awareness and adopting a number of security practices, the effect of any threats faced by the business will be minimized.
To such businesses that still want more measures to be put in place to address potential security issues, working with well known companies helps in structuring defenses against breaches which can include their normal operations.
