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How Businesses Should Handle Sensitive Data in 2022

StrategyDriven Risk Management Article |Handle Sensitive Data|How Businesses Should Handle Sensitive Data in 2022Mishandling sensitive data can be fatal for your business. Not only is this data usually given to you in trust by your customers, but it’s something that you’re legally required to protect, keeping safe and secure. In this article, we’ll look at ways in which you should be handling all sensitive data internally. The tips below will ensure that you’re able to keep handling sensitive data – whether that’s credit card details or personally identifiable information – without being at risk of data breaches or leaks that could damage your business.

Training

All good data handling begins with training. All your staff should be trained in how to keep data secure and how to keep their logins and passwords safe. This might take a training day, with you bringing in external facilitators to show your staff how to best handle data. Alternatively, you could appoint a data manager who is ultimately in charge of how your data is handled internally. They’ll have the master key for your sensitive data, and they’ll be an employee that you can trust to know how to handle data without leaving it at risk of being stolen or exposed.

Transfers

Sometimes, you’ll need to transfer sensitive data from place to place. That might be from one physical server to another, from your business to another business, or from a physical server into the cloud. During these moments of transit, your data is more likely to be intercepted and exposed, which means that you should concentrate on finding ways to secure your data when it’s in transit. Use Globalscape secure file transfer technology to ensure that your data is moved from place to place without the risk of being intercepted by bad actors or leaked accidentally when you need to move data to a new location.


Cybersecurity

Even when your data is simply sitting in a database without being moved, it could be exposed by bad actors who hack into your systems. This has happened several times in the past year, often via ransomware attacks that steal company data and demand a ransom payment to have it returned to them. The best way to protect from these threats is to install a reliable cybersecurity system. These are sold to businesses in many shapes and sizes, so it’s well worth doing a little research before deciding on which package you should purchase. Many are tailored to businesses just like yours.

Data Hygiene

The final tip in this guide is to keep your data clean and readable at all times. If your data is scattered across different platforms, is difficult to read, and will take a lot of manual editing in order to understand and leverage, it’s more likely that your workers will have to access sensitive data on their laptops and work devices, instead of leaving that data protected within files and databases. If you practice good data hygiene and keep your data machine-readable, you’ll never have to expose your data in the first place – it’ll be read and processed automatically, which means you’ll rarely have to access it in the first place.

Use these tips to secure your sensitive data in the future.

Taking Your Business Security to Another Level

StrategyDriven Risk Management Article |Business Security|Taking Your Business Security to Another LevelBusiness security is vital for protecting assets, employees, and intellectual property. And your company is under constant threat from hackers. So here are some practical protection tips.

Exercise Access Controls

Access control is an excellent tool for restricting specific people from areas of a physical site or server. You can control physical access controls using simple yet powerful key card entry systems. Key cards are programmable, meaning a user without the correct credentials imprinted on a key card cannot access a mismatched lock. Kind of like the security levels you see in the movies. For your business network, you can also implement something similar. Your network administrators can restrict access to specific drives and folders with OS policies and user levels.

Install Facial Recognition

CCTV cameras have come a long way since the choppy, low-resolution, inter-frame devices of the 1990s. Today, you can install Wi-Fi enabled, 24 fps, 4K, smart cameras for relatively little. These are supremely clear and have advanced features like high-detail zooming. However, you can go one step further and install high-tech cameras with facial recognition software. Suppose you manage a store and have banned someone for stealing. Facial recognition cameras can spot them and alert you. Or warn you to a face entering your site that isn’t in the staff database.

Boost Business Security with Non-Lethal Arms

Most countries don’t allow security to carry firearms. Yet, in some places, the killing of private security staff is double that of police. But there are non-lethal options you can use. These are much cheaper, have less chance of severe injury, and are mostly legal. Additionally, they hurt enough that they will stop a violent criminal in their tracks. Examples include pepper spray, tasers, and rubber bullets or bean bags. Many of these non-lethal alternatives also look a lot like real guns. And in most cases, just the presence of these weapons is enough to deter a criminal.


Invest in the Latest Technology

Like most things, security technology is constantly evolving. Modern advancements include facial recognition and key card access. However, there are more technologically advanced controls than these that you can invest in. Some aren’t as new, and others are in their infancy. Examples include biometrics for scanning the eyes, fingerprints, and palms. However, you can take your cameras mobile with security drones. Models like the Easy Aerial SAMS are designed for remote control and perimeter scanning with a high-quality camera and advanced recognition.

Implement Strict Cybersecurity

There is a genuine threat of a cyberattack on your business. And your business size doesn’t mitigate risk. Almost 60% of attempted hacks each year target small to medium businesses. These include data theft, ransomware, and DDoS attacks. Any of these is disastrous for a company of any size. Therefore, you must spend some money on cybersecurity. The best cybersecurity plans for businesses include physical and software firewalls, regular data backups, and employee education. You could use an IT service or hire an expert security team.

Summary

It pays to invest in business security to protect your company and employees. User access control, non-lethal deterrents, and cybersecurity protocols are all excellent methods.

What Can You Do to Benefit Your Business in the Long Run?

StrategyDriven Entrepreneurship Article |Benefit Your Business |What Can You Do to Benefit Your Business in the Long Run?After the last couple of years, running a business might have all seemed like survival, but as some things at least return to normal, your thoughts might turn to more long-term plans. With so many things to do at once, it might seem an impossible task to even get started, but to make things easier, here are some of the main things you should consider looking at.

#1 You Are Going to Need to Invest in PPSR

PPSR, otherwise known as the Personal Property Securities Register, is an essential part of running a business. The Personal Property Securities Register is a powerful tool that can help you get the compensation that you deserve if people who haven’t paid you to go out of business.

It means that you can repossess what you lost, or at least the value of what you lost. This is important to get right, and you might need some templates to make sure that it is perfect for use. This might mean that you are going to want to look at templates for Personal Property Securities Register used in Australia to make sure you don’t lose out

#2 You Are Going to Need to Invest in Cybersecurity

Investing in Cybersecurity is important to ensure the longevity of your business. It can help you work in a more secure environment and help your employees trust you. You would be wise to start by investing in anti-virus software and a decent firewall. It should also be beneficial to invest in end-user education to help yourself and your employees work safely on the internet and are wary of threats.

#3 You Should Be Investing in Training Your Employees

Not only does this help employee morale, but it also allows your business to get better results. This is because mistakes are less likely to be made, and communication becomes more fluent with the overall result that the pace of work not only becomes faster but also more accurate. You will be pleasantly surprised with the transformation that the correct training will cause within your business, as it starts to overcome issues more consistently and intelligently, as well as use fewer resources and perform better, even under pressure.


#4 You Should Be Looking into Getting High-Quality Website Management

This can help you tremendously when it comes to keeping the customers that you have attracted to your site. It can help you make sure that your website is up to spec and isn’t taking forever to load, being slowed down further by bugs, and just not looking good, causing your potential customers to click away.

You should also be looking into tools like Chatbots and using SEO to help your site become more findable online and enjoyable for your customers when they get there.

#5 You Should Be Investing in Your Social Media Output

This can help you when it comes to reaching specific audiences and helping your ‘brand’ increase in popularity. It can be a great tool as people all over the world could be potentially exposed to your business so that you have a chance of bringing in a customer anytime, meaning that you are always actively marketing. Although this might not bring the same long-term results as SEO, it will give you a more immediate audience.

#6 You Should Be Ensuring That Your Finances Are in Order

This isn’t just getting your business a PPSR. This is also building up your business’s credit score and making sure that you are as debt-free as possible. This is important as it can prevent you from getting the help that you need when you need it, as lenders might turn you down, which in turn might be the end of the line for your business.

#7 Digitalization Can Help You with Efficiency

Digitalization can be great for building efficiency throughout your business and it can be an effective way to modernize. It can also help you cut down on the single-use products which are detrimental to your business’s finances, and instead invest in other areas. For instance, moving storage to the cloud would be significant as you are going to need the digital space to expand your business and help it grow.

#8 You Are Going to Need to Think About Packaging

This can help your business appeal to more customers and then make them want to come back for more. It has been said that the packaging is more important than the product, and you also need to remember to make switches to more eco-friendly materials and also keep your packaging practical and reflective of your business. You will find that it is easier to keep your customers if they have a great ‘unboxing’ experience.

To Wrap Things Up

It’s never too soon to plan, especially if some of those measures will mean your business does have a future. By getting the back-up you need, both financially and digitally, as well as cutting down on overheads and boosting the knowledge in your workforce, you’ll find that moving forward doesn’t have to be as hard as you first thought.

Why You Need Penetration Testing

StrategyDriven Risk Management Article | Why You Need Penetration TestingIf you have any online firm or business, it is essential to keep it secure. There are hundreds of cyberattacks every day, and your company could be next. It is especially true if you have a medium or large business. You can have your security tested by professionals who know what to look for and knows how to spot vulnerabilities. If you decide to forego this essential security step, you could be leaving yourself open to an attack that could severely damage your business. Here are some reasons why you need penetration testing.

It Can Save You Money

You might wonder about penetration testing pricing and how much you will have to spend upfront. While you may have to spend some money initially, you can save money later. Cyberattacks can be costly, and depending on the nature of the attack, you might have to pay thousands of dollars to fix the problem. Hackers might also steal your money rather than attack your system, so keep this in mind.

It Can Protect Your Company

If you deal with sensitive information or you have a lot of essential files, penetration testing can help protect these files. Penetration testers, also known as white hat hackers, can see where any vulnerabilities lie in your system and alert you. They can offer suggestions about making your system more secure and less susceptible to attacks from cybercriminals.

It Can Protect Your Customers

If you have customers, penetration testing can help protect their sensitive information and keep them secure. Cybercriminals may try to steal credit cards and other financial data or even identities. A safe system that has had tests for issues in its defense is essential. If a customer’s information is exposed or stolen, you no longer only have an issue with hackers but also a problem with customer trust. Customers will go to another company with a more secure system if they feel they have gotten exposed. Your reputation is on the line if your company is the victim of a cyberattack, so testing all parts of your system is crucial. It includes networks and web apps.

It Can Put You Ahead of Competitors

If people know your organization has excellent security that has been tested and updated by professionals, they may be more inclined to use your product or service. If you stay ahead of the competition by having a secure system that hackers can not exploit easily, you can use this as a selling feature. Customers want to feel that your products are not risky to use or purchase and that their information is always safe. Penetration testing can help with this and help you be more prepared for any cyberattacks.

Penetration testing may seem complicated or pricey, but it is essential if you run a large business. Customers rely on you, and cyberattacks happen every day. Organizations need their customer’s trust to run a successful business. A penetration tester can find weaknesses in your system before cybercriminals do. If you take the time to prepare, you can avoid loss of information and avoid costly repairs.

Brands are Failing with Their Responsibility to Protect Consumers as UK Fraud Cost Rises to £137 Billion

StrategyDriven Risk Management Article |Consumer Protection|Brands are Failing with Their Responsibility to Protect Consumers as UK Fraud Cost Rises to £137 BillionIt appears cybercriminals are having a feast scamming online, sparing no internet user, especially the vulnerable many who completely always trust every link sent to them in your brand name.

You can help, even though not entirely, but in some way, and this includes leveraging tools to fight against the ravaging internet crimes. These criminal activities only end up making e-commerce threatened.

Due to the growing insecurity and the rise of businesses and the need to educate customers more than ever, Skurio has investigated the current state of fraud on consumers to establish what companies could be losing, and you can click here to see their interactive slider that demonstrates the devastating daily cost of UK fraud.

UK Fraud Cost Surge Currently £137 Billion: What Items Are Experiencing the Effect
Cyber fraud is costing the UK economy approximately £137,000,000,000 annually and this means that consumers are missing out on being able to purchase various items that are used daily in society.

Here’s a breakdown of some of these consumer items that could have been purchased had it not been due to fraud daily:

Cups of Coffee:136,488,169.
Netflix Monthly Subscriptions: 62,661,513
Cinema Tickets: 55,606,291
Family Packs of 16 Toilet Rolls: 44,157,937.
Full Tanks of Petrol: 7,325,184
Smartwatches: 990 349
PlayStation 5: 834,112
Round the World Flight Tickets: 75,068

Cybercriminals Not Pitying Brands and Customers Amidst Post Pandemic Effect

Internet fraudsters are not retreating, and newer strategies are finding their place in the system to beat customers’ intelligence. Pharming, phishing, and many other defrauding techniques are also taking new forms, thereby becoming even more complicated for consumers to tell what from what.

For instance, website cloning and the use of your domain name is a big vulnerability. Even if a customer would manage to tell that the site is fake, the look and feel of the site confuses them and they end up trading with the account.

Typosquatting is a name for fake websites using domain names similar to that of your business. They will also add payment options, so that site users think they are dealing with the website. Sometimes, your customers end up on the website due to an error when trying to contact your site. Not only will a fake domain copy your site name, but they could also go on to promote the website, which means they will be gathering even more targets to victimise in your name.

Smishing is also a thing. In this case, a scammer sends out tons of messages containing malicious links to users. The links usually point to their fake website which is designed to store the information provided by the person falling victim.

How about finding your site credentials on the dark web? Well, these credentials could be used to jeopardise your integrity in the future, if not now.

Business-Oriented Response by Businesses to Curb Fraud

Unfortunately, you are responsible for safeguarding users that you think could be using your website. Your domain registrar cannot do so much, likewise the government. Therefore, you must take the fight against scammers if you must ensure to preserve your integrity.

The governments are contributing nonetheless. For instance, the US and Dutch law enforcement, under Operation Bayonet, had seized and disabled AlphaBay and Hansa, two prominent dark web marketplaces.

In your case, to respond swiftly to scammers’ attacks, consider the following:

  • Brand trademark. If you must justify and hasten takedowns, you want to trademark your company. Trademarking your company does not stop phishers, but it at least gives you the edge to take them down when you discover them.
  • Top-level domain registration. You can register as many top-level domains as you can that are similar to your brand. If you do not do it, scammers will.
  • Educate customers. Customer education can be vital in the fight against internet fraudsters. You simply have to develop clear and regular communications policies that inform your customers about the information your business can request from them.
  • Invest in the domain and dark monitoring solutions. You detect and eliminate phishing websites early before their presence leverages customer ignorance, which affects your brand reputation.

Final Thoughts

Dark web and domain monitoring tools are sophisticated ways to discourage fraudsters. Nonetheless, ensure to communicate your policies regularly with the customer. It should contain what personal information you collect, why and when, as well as the information you do not require or the only web pages they are supposed to enter their information on.