The issue of data security continues to be an ever-present threat. Credit card giant Capital One, recently replaced its cybersecurity chief as it assesses the aftermath from its July data breach, which saw a hacker take millions of credit card application data between 2005 and 2019 from customers applying for credit cards. The data leaked also included names, addresses, postal addresses, phone numbers, email addresses, dates of birth and self-reported income, as well as credit scores and credit limits.
According to the Federal Trade Commission, data security problems are getting worse and there remains the question of how seriously both businesses and consumers take this threat. In a study performed by MasterCard, 90% of respondents noted data privacy as an important issue to them. This is followed by two-thirds of respondents believing companies are not acting in the best interests of consumers to enhance data security. Nonetheless, the blame is not solely on the heads of the corporation. Even though, according to Shred-It, around 33% of individuals have been a victim of cybersecurity threats (via information fraud, or identity theft), 28% of those who have fallen victim say they change their passwords or pins “only sometimes” after a company suffers a breach, and 9% don’t update their credentials at all.
These facts paint the perfect picture that the path towards true data security is a two-way street. Utilizers of IOT (Internet of Things) need to be aware that threats targeting one’s security is constant, and that precautions (whether this be changing passwords and ensuring internet devices are equipped with malware and ransomware protection) need to be taken to protect one’s sensitive information. With that being said, enterprises need to establish both technological and personnel frameworks to keep this delicate intelligence secure. This takes the form of the aforementioned technological aids, but also training those within the enterprise (specifically those in HR) on appropriate procedures and practices. Not only should all employees be well-versed in these practices, but continuous revisions and updates should be implemented. This is in response to a GetApp survey depicting that 41% of employers do not train all their HR personnel in protecting private data, and just 19% revise their policy quarterly.
Whether your business is small or large and whether your services are varied or niche, every business needs to implement additions to their processes to remain secure in their actions, which in turn protects your clients. This can be accomplished by:
- Securing your sensitive information via encryption
- Preparing for potential threats by instilling, within your employees, correct protocols
- Scanning and appropriate storage of information, followed by disposal of physical copies
- Limit the ability to access certain information, and disallow potentially dangerous websites
Consentia is amongst the 19% of employers who revise security policies, as we hold mandatory security workshops for every staff member every 3 months. Workshops are a great way to get your staff engaged in the education of data security practices, as it presents an interactive environment allowing staff members to be more receptive on methods to combat this issue. Consentia is committed to security, continuously making additions and amendments to our processes to keep up to date with the threat of data security. All IOT work done is monitored by our Professional Services staff, with all USB ports locked and internet within our Service Bureau floor only permitted on a per case basis. All Consentia staff members undergo criminal background checks before starting, and are observed when reading and signing of any new versions of our security manuals. Ensuring your business implements these security safeguards allows your clients to feel confident their information is in the right hands. Applying such security measures will ensure the walls of your business (the metaphorical data walls) remain protected from breach, allowing you to take on more business and increase client confidence.
Cybersecurity threats can severely impact a business. Unfortunately, such threats can hurt your business. IT departments are faced with a multitude of ever-changing threats that directly impacts business processes. Threats in earlier years took the form of information theft and vandalism. On top of this are emerging issues such as espionage, disinformation, market manipulation and disruption of infrastructure. Consentia views client partnerships as relationships. As such, we take every effort to ensure our relationships remain strong and secure. Consentia takes data security and privacy immensely seriously, with a hyper focus on these issues throughout all facets of our business, and that of our clients.