Simple Steps to Secure Your Business Against A Data Breach

How many websites or companies have access to your data? Maybe you have your password saved when you log into Facebook or your credit card is saved on the app to your favorite local pizza place. The point is that most people are willing to trust certain companies with the safe keeping of their personal, private data.

But what happens when one of these companies makes a mistake? Sometimes the smallest of mistakes can lead to the biggest data breaches.

A data breach occurs when private information is stolen from an organizations system without their knowledge or permission. Data breaches are somewhat of a "catch all" term for most cyber security incidents that result in the loss of private information. The cyber criminals who initiate these attacks are often looking for private information to sell on the dark web. This could include login credentials, medical records, or banking information for the organization or its clients.

It is important to realize that in these breaches it's not just the companies data at risk, but its clients as well. In April of 2021 Facebook was breached resulting in the loss of 533 million Facebook users personal information. This included home addresses, email addresses, and phone numbers. Not only was this detrimental for Facebook as a company, but it also put millions of individuals at risk.

If you think that the odds of your company falling victim to a data breach is slim then think again. 2021 is set to become a record setting year in terms of data breaches. In fact it is estimated that in 2021 a ransomware attack will occur every 11 seconds. Data breaches also have risen throughout the COVID-19 pandemic and with the increased adoption of the work from home model.

Additionally, it may not be your data these criminals are after, but rather your clients. A data breach has the capability to trickle down from your business to your clients, all the way to their clients. It is crucial that companies accept the reality of cyber attacks impacting their business. It is no longer a matter of if they will be breached, but when.

What types of data breaches do these companies have to face?

The most apparent method of infiltrating an organization is through a ransomware attack. Ransomware refers to the act of a cyber criminal finding its way into a victims system (most often through social engineering) and locking private data behind an encryption that requires payment to release. The victim can either choose to pay the "ransom" or have their private data released for all of the dark web to see.

One of the most recent, large scale ransomware attacks was the Colonial Pipeline breach in May of 2021. This breach was able to temporarily stop the operation of the Colonial Pipeline leaving millions of Americans struggling to find gas. As data breaches increase in volume they will also continue to increase in scale.

Fortunately, there are a number of ways to help decrease the risk of your business falling victim to such a data breach.

One of the most practical and easiest way to help improve your security posture is to maintain password hygiene. Taking steps to create unique passwords for your logins can make it significantly harder for criminals to get a hold of your accounts.

Also, security awareness training can aid in making sure your employees are able to spot potential phishing schemes that seek to gain a foothold into your organization.

Lastly, using multi-factor authentication can add an extra layer of protection to your businesses defenses. Make sure that your organization is prepared in the case of a data breach.

CorpInfoTech can help manage your IT needs as well as secure your organization against the toughest cyber threats!

CorpInfoTech (Corporate Information Technologies) provides small to mid-market organizations with expert I.T. services including compliance assessment, cybersecurity penetration tests, and comprehensive business continuity planning services. CorpInfoTech can help organizations, quantify, create, refine, and mitigate the risks presented by business threatening disasters in whatever form they may be disguised.