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Why You Need a Privacy and Cybersecurity Strategy

The security of your data is at risk. The world in which today’s businesses operate is becoming more connected. This applies to industries that include banking, medical, manufacturing, and personal services.

Government infrastructures can also fall victim to cyber attacks and must work to stay one step ahead of hackers and other potential threats.

As the number of high-profile data breaches continues to rise, so does the need for privacy and cybersecurity strategies that protect your business and its customers.

The Impact of Cybersecurity Threats

Hundreds of billions of dollars are lost each year as a result of cyber security breaches. The businesses that have been affected by these threats include big-name brands such as Home Depot, Target, Sony, and J.P. Morgan.

No business is immune to cybersecurity threats. The frequency of these breaches is partly a result of the growing number of online services that are used by businesses and the public.

Third-party cloud services and mobile apps result in users storing sensitive data in places that may not be secure. Technologies that allow machines at work and at home to communicate with one another further raise the risk for cybersecurity threats.

What Privacy and Cybersecurity Threats Look Like

Data security breaches are a common form of attacks that businesses face, but actions that sabotage the daily operations of your business must also be prevented.

Acts of cyber sabotage include denial of service (DOS) attacks and the disabling of systems within the organization. These can be just as damaging and costly as the theft of intellectual property and personal data.

There are additional damages that must be considered by your business. Data breaches and other cyber attacks impact your brand’s credibility.

Customers and business partners may lose trust in your ability to keep their information safe in the future. Businesses may face legal actions and the disruption of their daily operations.

Putting a Privacy and Cybersecurity Strategy in Place

Protecting the data of your business, its team members, and its customers requires a comprehensive cybersecurity plan.

Employees need resources and training to implement cybersecurity measures. Your company must outline its cybersecurity policies for the entire organization.

Guidelines related to the use of passwords, data access, and the management of customer data must be in place to ensure that your business is protected.

You need the tools and systems to protect your network and the devices used in your business. The right operating system and security software are essential to protecting your data and preventing data breaches.

Internet access must be protected by a secure firewall. This is especially important for businesses that have remote employees who work at home or when traveling.

Mobile devices should be password protected to prevent the security risks that they create. Devices that access your network and data are especially vulnerable and should be managed appropriately.

All data should be backed up regularly. Although this is a basic strategy for protecting data loss, many businesses still fail to implement an effective data backup plan.

Financial spreadsheets, databases, and other data must be protected in order to keep your business safe and prevent the loss of revenue.

Other effective privacy and cybersecurity measures include:

  • Creating user accounts for employees
  • Monitor access to computers and other devices
  • Encryption of data and your Wi-Fi network
  • Password protect your business router

No business is safe from privacy and cybersecurity threats. That’s why protecting your data is an ongoing process that must be managed over time.

Having the best resources in place gives your business the tools and strategies it needs to prevent the loss of revenue, productivity, and the trust of your customers.

Keeping your business and its customers safe is the first step in competing in today’s increasingly connected marketplace.

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