Data breaches come with a significant cost and can cripple a business. That is why organizations are unsurprisingly investing heavily in cybersecurity. But, although every company must pay attention to data security, not all cyber threats pose the same degree of risk. And organizations can work to offer unmatched data protection by boosting their security standards against the most predictive threats. The following are some data privacy risks that could hinder an organization:
Employee Data Theft
A malicious company employee may steal data from it for monetary gain or the benefit of a competing company. Fortunately, technology has improved to help companies monitor employees and restrict access to key data. To prevent employee data theft, companies must enforce good data and security concern protection policies, implement a strong internal policy, recognize red flags, and have an employee exit plan.
Company employees may accidentally share, misplace, or mishandle sensitive data. Everyone can make mistakes and mitigating the risks related to these errors is important to protecting data privacy.
A lot of ransomware attacks start at the employee level as phishing scams. These attacks are vicious with devastating consequences for corporations and small business owners alike. When a ransomware attack happens, it’s important to report the incident to help authorities and other companies with this threat. Also, a company’s service provider must be notified, so they can take action to protect current and future customers from the same breaches.
Exhausted Cybersecurity Teams
IT admins tasked to protect an organization’s most sensitive data bear the burnt of today’s cybersecurity landscape. A lot of them may consider quitting their jobs or leaving the industry for good. The fatigue they experience makes an already difficult situation even tougher. Because of this, companies are exposed and must increase their effort to implement automation whenever possible.
Poor Password Practices
Login credentials were compromised in previous data breaches and with a lot of people using redundant or easy-to-guess passwords, hackers can use this information to access company data even on secure networks. Thus, companies must require employees to routinely change passwords to address this preventable threat.
With new technology and increased accessibility to information, the possibility of hackers successfully infiltrating IT systems is increasing. Even if businesses take efforts to secure their networks, phishing emails make their way into employees’ inboxes. To defend an organization against this threat, it has to manage the traffic and equip employees with tools, training, and education.