How to Protect Against a Data Breach
Whether the cause is an insider attack, a breach on an unprotected server or malware, a data breach can expose personal information and lead to theft and loss of intellectual property. The cost to businesses is staggering. For example, a company’s reputation may suffer, and its employees might lose trust. The financial impact can be devastating: According to the Ponemon Institute 2021 “Cost of a Data Breach” report, the average single breach costs $4.24 million.
Hackers steal sensitive information from business networks by exploiting weaknesses, taking advantage of employee devices or passwords, or using stolen equipment. They then use it to make money or steal identities. For example, thieves might use Social Security numbers or other personally identifiable information (PII) to sign up for credit cards and bank accounts in their victims’ names. They can also commit tax identity theft, or use PII to access customers’ medical records for a host of illicit reasons.
The best way to protect against a data breach is by protecting information with strong, complex passwords and changing those passwords at regular intervals. Keeping software and systems up-to-date is important, too. And limiting the amount of sensitive data accessible to any one individual is key: For example, don’t give a manager full access to all the company’s customer records. Often, these breaches are caused by a misconfigured server or firewall. Creating segmented networks can help limit the impact of any one breach. Also, if you haven’t done so already, remove any improperly posted information from the web.