There is an increasing threat of cybercrime and data breaches around the globe. So if you’re putting up an online business, one essential thing to consider is cyber security.
According to the FBI 2021 report, nearly 7 billion dollars were lost to cybercrime. The highest dollar losses are from business email compromise schemes where fraudsters impersonate a company executive or owner to deceive employees into turning over confidential data or transferring money. This is just one of the many ways where they can penetrate your company’s digital wall and access sensitive data. With that, you need to implement strategies to strengthen your defenses and secure company data.
Here are five ways you can improve data security.
1. Use a strong password.
A 2017 Data Breach Investigations Report states that 80% of hacking-related breaches are caused by weak and reused passwords. Yet, even now, many are still struggling to manage their passwords and prevent password-related attacks.
To avoid this, train your team to use a strong password. Strong passwords should be at least eight characters long, have non-alphabetic characters, and unique in every account. Check whether your device or website’s tools offer helpful password protection features, use two-factor authorization, and update your passwords every 3 months.
2. Encrypt all data and devices.
Data encryption means translating your data from plain text into a code to make it unreadable to anyone without a decryption key or password. Encrypting your company data is essential, so whenever thieves get a hold of your data, it will be very difficult for them to open or read it.
Make sure that your decryption key is complex and lengthy enough so hackers cannot decrypt your data.
3. Back-up your data regularly.
You should back up all your data in case of accidental file deletion or a cyberattack. Secure the backup data on a remote storage device and keep it away from your office. With backup data, you should have no worries about running your website.
4. Use software that complies with data privacy regulations.
Most, if not all, organizations collect personal information, including name, address, and phone number. Collecting these data is highly regulated by data privacy laws and regulations. Using software that understands the importance of complying with these regulations gives another layer of protection.
5. Test your security.
Knowing your security weak points is very important, especially when running an online business. Hire a professional organization to conduct a security check. They can give an insight into your weaknesses and how to solve them.
Regularly update your programs as hackers are constantly adapting. They may have a hold on the earlier versions of the software, so make sure they are properly updated.
Conclusion
Regularly communicate with your team regarding data privacy and security standards. Make rules and regulations to remind them how important it is to secure confidential data from thieves or scammers. Doing all this work may seem complicated and difficult, but it is essential and effective in preventing your data from being in the wrong hands.
