Data breach is one major problem that no business is immune to, as even big companies are affected too. As an entrepreneur, the security of your business should be a priority (if not topmost), as this threat can be devastating.
Different years have been marred with different levels of cyber crime ranging mostly from small businesses to larger enterprises like the Sony breach. This has led to the closure of many businesses and even with the regular occurrences, many are still not sensitized well enough with the necessary data breach preventive measures.
What is "Data breach" or "Data leak" ?
It is simply an illegal access to a company or business data or information. Having an unauthorised unrestricted access to a company's database for some illegal (or legal, as the case may be) purpose(s) is Data breach or Data leak. These Data breaches are mostly carried out by cyber-criminals who steal sensitive data especially financial information.
2018 Cost of a Data Breach Study shows that the global average cost of a Data breach is $3.86 million and the global average cost for each confidential data or sensitive information stolen or lost cost around $148. Companies are increasingly becoming more security conscious and focus and you should be too.
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5 ways to protect your company from any Data breach or Data leak:
-You should enforce strong passwords across all systems and schedule it for change at least every 6 months.
-Using a two-factor authentication will provide greater protection as it adds another layer to the security.
-Encrypt devices and data.
-Use of anti-virus and anti-malware.
Safeguarding your company against data breaches is more important than ever. The privacy (data and sensitive information) of your business or company is something you don't want to play around with as any data breach or data leak can cause damage to reputation/brand, loss of revenue, loss of productivity, potential liability, resolution which may require outside help, etc. Enforcement of these precautions and measures can minimize the risk and protect your business or company from potentially damaging incidents.
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