An IBM study about data breaches found the average total cost of a data breach in 2015 is $3.8 million, representing a 23 percent increase since 2013. As the holiday retail season approaches, now is the time to make sure your business is secure enough to prevent data breaches. Companies like Target, TalkTalk, Ebay and JP Morgan Chase have all been a victim of data breaching, costing them millions of dollars.
Data breaches are often caused by hacking and malware attacks. According to InformationWeek, hacking is the most common method of data breach attacks followed by malware, physical attacks, social engineering, misuse and user error.
Prevent your company from being the next data breach victim by following these data breach prevention tips by Kroll:
- Look beyond IT security. Evaluate employee exit strategies and data storage practices. Then establish and enforce new policies.
- Establish a data loss protection plan. Ensure all employees know what to do in the event of a data breach.
- Educate employees on how to handle and protect sensitive data. Keep records of who has access to the data and only grant access to employees on an “as needed” basis.
- Maintain updated security software or patches. Operating with an unpatched system offers hackers a way in.
- Bring in a data breach and security expert to analyze level of risk. Organizations with a strong security plan in place prior to data breach incidents can reduce the cost of a breach by as much as $21 per record instead of the estimated average of $154.
Be proactive and make sure your company has a disaster recovery plan in place. At MDL we offer off-site backup options to keep your data safe and secure in case of threats. With advanced encryption tools, no one can access your company’s data without your knowledge.
