Poor information security can ruin your business. And when vital data gets breached, it’s only a matter of time before your reputation hits the bottom rock. Fraud and data breaches can happen in kinds of businesses. It’s one of the leading causes why numerous small companies fall into bankruptcy.
Companies, big and mall face threats daily. According to research, data leakage, hacking, and phishing are security issues that put businesses at risk.
Hackers are the culprits for most data breach problems. Hacking is what cybercriminals do to gain money from unaware businesses. They use phishing scams and malware to gather sensitive information like bank accounts, card details, and many more. Here are the risks that most business owners face nowadays.
- Unauthorized network use. Criminals can get sensitive information like credit card numbers by tapping into your WiFi. They can collect every information you send through the network.
- Email phishing scams. Email scams include sending emails to unconscious people (often your clients) to look like the message came from your company. Often, email scams ask customers to log into a website that looks legitimate, giving scammers access to many accounts.
- Device hardware theft. Criminals use different methods to steal data. If they can’t hack your network or get into your device online, they will steal your device or computer then.
Protecting Sensitive Information
Save only what you need
The more information you have about your customers and staff, the more you need to prioritize information security. Most of the time, companies save plenty of information, even the ones they don’t need. As a result, customers suffer when their details get leaked.
To prevent hackers from stealing much information, only save what’s necessary. Refrain from gathering the information you don’t even need. If possible, delete or remove the data as soon as the transaction is over.
Plan your action
While preventing data breaches is your primary concern, it would also help if you have a solid plan for your resolution methods. Create a list of the things you need to do when the worst things happen so that you’ll know what to do by then. Here’s what your plan should include:
- Shut down hacked computers and devices and turn off your internet connection to stop any activities right away.
- Gather proof. You will have to prove to your customers that you are not to blame for the crime. So it’s essential to have web capture software to have the backup files you need and set aside.
- Notify authorities, customers, and employees. It would be best if you let everyone know that criminals stole their information so that they can block their cards immediately.
- Investigate. Talk to your employees about the incident or hire an agency to investigate for you.
Make an inventory for sensitive information
Smartphones, flash drives, tablets, and laptops are often used to keep information and transfer data. But when these devices fall into the hands of a criminal, your reputation might suffer. Make an inventory of the information you store, where your employees save data, and who are authorized to access them.
Keep physical documents in safe storage
Cyberattacks are just one of your many concerns. But stolen documents can also give you a headache. If a physical document contains sensitive information, make sure to keep it in a safe place. Place the documents in a locked cabinet or office that only authorized employees can access. At least once a year, dispose of old documents through a shredder.
Regulate internal control
Whether you trust your employees or not, it’s better to use internal controls to prevent fraud caused by an employee. If not, your employees could steal client information or use your funds without your knowledge.
Don’t give your employees all the information about your customers. Give them only what they need so that they can do their responsibilities. Make sure to have a system that logs your employees’ activities. It should be able to record what they download or save.
Create dense employment contracts
In each employee’s contract, be specific about their tasks and responsibilities. Also, put in detail all the things they can and cannot do while in the workplace, like sharing information. Upon hiring, explain to them the importance of following the guidelines to prevent data breaches.
Security issues have already affected many companies. It’s about time for business owners to take action and put a stop to this despicable crime. While you cannot prevent criminals from stealing, you can protect your business, clients, and employees against them.
Always remember that prevention is always better than fixing the damage. Neglecting to provide security and protection for sensitive information can put your business in jeopardy. And that’s something that will put your company at the bottom.