Data Protection – Bada Business

4 Breach-Proof Ways to Protect your Company`s Sensitive Data against the Cyber-attack!

As work-from-home becomes the new normal, businesses are restructuring their work-from-policies to ensure the security of client data.

From the hacking of the 2018 Winter Olympic games to the recent scam with NDTV`s well-renowned journalist Nidhi Razdan, it`s clear- digital domains are the new battlefronts. Though the companies are taking the required preventive measures, the cyber threats on global brands like Delta Airlines, and Best Buy proves that no matter how large or small, companies are still vulnerable to emerging cyber-attacks.

According to the report of CSO`s State of Cybercrime 2017, ‘by the year 2021, the cybercrime damages will cost the businesses around the world $6 trillion annually as the unfilled cyber-security roles will have tripled. ‘

The key findings from the report clearly state that in the coming years every Tech business will actively protect their businesses against cyber-security threats.

So how can you ensure the privacy and security on the internet for your business? Let`s have a look at the most successful ways to protect data in an organization that will ensure data security:

Update Latest Security Patches

The best way to protect your company`s data is to ensure that your tech professionals are keeping up with the latest hardware and software patch updates. To complete tasks in time, your employees may not update their software because they do not want to be interrupted. Hence, to ensure online privacy protection, you must implement an updated patch plan.

Encryption of Data

From encrypted hard drives, phones, USBs to data encrypted before its transfer to a cloud system, data encryption has become an integral part of the protection of sensitive information. Businesses in today`s world have become vulnerable due to the rise of remote work. With devices frequently leaving the safety of secured networks, encryption ensures that the data remain inaccessible in case of theft or loss.

Invest in Emerging AI solutions

AI or Artificial Intelligence is growing and expanding its branches with each passing day. Integrating AI with security plans can provide you with many benefits.

Create a Response Plan

A cyber-attack or a data breach can prove a lot costlier than we can anticipate. Hence, creating a breach response plan will ensure that your tech professionals how to deal with the situation, in the worst scenario. A response plan will help companies adequately store their data, fix vulnerabilities, and also notify the tech professionals.

With the rise of many startups and small businesses, India is experiencing a ‘data revolution’. Protecting sensitive information has become more essential than ever. By applying the above-mentioned tips, you can ensure the protection of your company`s data.

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Companies More ‘Reactive’ Than ‘Proactive’ on Cyber-Security Issues, Say Experts

The operations and functions of various business organisations have undergone drastic changes over past several months owing to the restrictions and limitations imposed due to the spread of COVID-19 pandemic at a global level. More and more businesses moved towards the online and digital sphere as countries worldwide started to put month-long lockdowns. Given massive presence of businesses in online spectrum, cyber security experts are of the view that several companies still need to be more proactive in terms of strengthening their systems against cyber attacks.Small and Medium Businesses Disclosing Data Breach ‘Quickly’ Incur 40% Less Financial Loss: Report

Experts however believe that with the coming in Data Privacy Bill, companies will be directly or indirectly forced to adopt better measures to make sure that their systems are better protected from the external attacks. It may also strength the entire online infrastructure and operational activities. Studies show that ever since General Data Protection Regulation (GDPR) was launched in Europe, more and more steps were undertaken by the companies to ensure data protection and cyber security. 5 Ways To Protect Your Business From Cybercrime.

Talking about the issue of cyber-security, Arpinder Singh, India & Emerging Markets Leader, EY Forensic & Integrity Services said, “I think some organisations have been proactive and some organisations have been reactive. Reactive means they have actually had an incident and then they have run around trying to fix it, I think some companies have been smart, when someone has been hit, they have analysed that loss and then thought of protecting themselves. But that’s a slow process in the pandemic. Everyone has tight budget.”

The companies are currently more reactive to the cyber-security issues rather than being proactive. According to the experts, any firm will not be willing to enhance its cyber-security until and unless an external force breaks into its system. Given the magnitude of e-commerce activities being done, owners should be careful about protecting their data. They also stress on the need of training the employees both in the government and private sectors on data security and protection.