Inside, outside, upside, down – the very technologies, systems and even people a business relies on, can also be the greatest risk for a company’s security

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The importance of data security

Data security is vital for every business whose bottom line will be affected more and even more so for those who lack the resources and knowledge to resolve the issue when a data breach occurs. Irrespective of the type of data breach, your company will certainly experience severe consequences such as downtime and expensive legal fees. It’s therefore imperative that companies employ data security mechanisms and procedures to protect your data against threats to protect your brand reputation.

The goal of all existing companies it to offer trustful services to their clients. In return, customers trust your company with sensitive information with every purchase. Whilst, no business intends to harm their clients, an unintentional or accidental data leak could potentially impact your business reputation. When a security breach happens, there is a lot more than money at stake. Stolen data might put your clients at risk and, as a consequence, the future of your business. Brand reputation takes years to gain and only minutes to destroy.

Many businesses overestimate their ability to handle data loss when a breach occurs. For instance, companies believe that they are adequately prepared to put off phishing efforts, but they forget to realize that the majority of data breaches do not occur this way. Unsecured portals, websites, endpoints, networks and smart devices are vulnerable systems to invade by potential hackers. Hence, it’s important that companies review their safety mechanisms for processing and handling data securely in your IT environment. Role-based access control (RBAC) is one method that can keep data more secure and allows the company to decide who accesses what type of the data, based on their role in the company. Additionally, end-point protection software can block employees from accessing unsecured web pages and increasing the risk of a breach.

The counter-threat unit of Dell was doing a research on new hacking methods that were used by the hackers. While they were doing it, the Dell team came up with some sensitive information from some top firms. They contacted the respective companies to let them know that their data were compromised. One of the victim company hired dell to resolve the issue. It took nearly 45 days to clear up the issues. During which the company received a satisfactory survey mail from hackers pretending to be an IT company. The Dell team caught it before they could get cheated. The victim company had undergone security attack and being hacked for two years without knowing. Their confidential information had been stolen and stored by the hackers elsewhere.