How to Prevent a Data Breach at Your Business

Here are some of the most common data breaches to watch out for and the cybersecurity best practices you can use to prevent them.

Common types of data breaches

Data breaches can happen for many reasons. Many people rely on the internet for important aspects of their personal and professional lives these days. This means that digital data is more valuable than ever, especially if it contains sensitive personal or financial information.

Many hackers will look for weaknesses in your cybersecurity strategy that they can exploit. Once they’ve found these weaknesses, they’ll use them to extract important pieces of data. There are many ways that this can happen - poor cloud security practices, weak passwords or social engineering strategies.

One of the most common social engineering strategies that hackers use is phishing. These attacks typically happen via email, social media message or SMS. In a phishing attack, hackers will pose as a trusted source, such as your bank or a technology app you use. They will send messages attempting to extract important login information or sensitive personal information.

Additionally, hackers often use malware to steal data from vulnerable parties. Malware is a type of software that is designed to cause damage to your device. One of the most common forms of malware is ransomware. Ransomware steals valuable pieces of data from your device and holds it ‘ransom’ for a large sum of money. Approximately one-third of organizations experience attempted ransomware attacks at least once per week. Most malware attacks happen as a result of opening suspicious attachments or clicking suspicious links in emails.

Data breaches can also happen as a result of poor physical security in your office. If unauthorized parties can gain access to your office, they could steal data directly from your servers or from devices like laptop and desktop computers.

Some data breaches also happen as a result of human error. Your employees may accidentally share data with a third party, resulting in a loss of security. Although accidental insider data breaches aren’t malicious, they can have serious negative consequences.

How to prevent data breaches

While data breaches are alarming, there are things your organization can do to prevent them from happening. Having a robust cybersecurity strategy will also ensure that even if a data breach does happen, you’ll be able to recover.

Here are steps to take to prevent data breaches at your business.

1. Choose secure third-party service providers

As your business grows, you will need to work with third-party service providers to manage your online presence. For example, you might work with a third-party provider to set up your website, process customer orders, and store your data. Cloud storage is a common example of a third-party service for organizations.

When selecting third-party providers to work with, it’s important to make sure their cybersecurity strategies align with yours. These providers may need access to secure pieces of data in order to do their jobs, and you’ll want to make sure that this data is properly protected. Before making any commitments or signing a contract, be sure to conduct a thorough review of each third-party provider’s security practices and data management protocols.

2. Provide in-depth employee cybersecurity training

In many cases, your employees will serve as the first line of defense between your data and cyber criminals. With so many people working online these days, it’s more important than ever to offer cybersecurity training to your entire team - even those who don’t work with secure pieces of data.

Offering regular cybersecurity training sessions ensures that your team has the knowledge they need to spot and avoid potential threats while working online. It’s particularly important for employees to learn how to set up strong passwords, identify phishing messages, and protect sensitive pieces of data.

3. Keep your technology updated

Technology companies release regular software updates throughout the year to address cybersecurity issues and improve functionality. These updates are intended to fix any vulnerabilities that have been identified in the software. As a result, it’s very important to update all of your systems and software programs whenever possible. If you don’t, hackers can exploit existing vulnerabilities to gain access to your data.

4. Invest in remote systems monitoring.

To prevent data breaches within your organization, you’ll need to be constantly vigilant. However, you may not have the resources to monitor your systems internally 24/7. Hiring a managed IT service provider is one of the most reliable and cost-effective ways to protect your systems. Managed IT companies can monitor your networks constantly to identify and respond to threats.

5. Limit access to vulnerable data

Keeping your networks siloed can also help to prevent data breaches from happening. Limiting the number of people who have access to your data at any given time reduces the risk of a breach. When granting employees access to your systems, make sure they only have the information they need to do their jobs, without being able to access the entire system.

6. Develop an emergency response plan

Data breaches can happen even to the most security-minded companies on the market. Hackers are constantly coming up with new strategies and finding new ways to break through security barriers. Because of this, it’s incredibly important to have an emergency response plan in place. Determine what you’ll do if a data breach does happen - how will you secure your assets? How will you communicate with and protect your customers? Deciding exactly what to do in this situation can help you prevent negative effects long-term.

It’s never too late to implement a cybersecurity strategy at your organization. Taking these simple preventative measures will help you avoid devastating data breaches.