Data breach: The importance of data security

Importance of data security

With the increase in cyber attacks on businesses regardless of their size or business area, it is critical to ensure that appropriate and up-to-date security measures are in place for the protection of personal and confidential data.

Simultaneously with the coming into force of the GDPR (General Data Protection Regulation) - the European law regulation on privacy and protection of personal data - the personal data of a business' customers is not only important in terms of revenue and competitiveness, but is also fundamental for the sustainability of the business itself. In the event of non-compliance with the legal requirements of the GDPR, businesses can receive financial penalties as a consequence.

What is data breach?

The term data breach means a breach or violation of data, which presupposes a movement of confidential business data to an untrusted environment.

Whether accidental or unlawful, a data breach occurs when the data and information for which a business is responsible suffers security breaches resulting in a violation of its confidentiality and integrity. Data breaches can occur due to authorized or unauthorized access to internal systems and networks, theft of equipment, sending of data via insecure external devices, intentional or unintentional failures to follow data protection processes and principles.

The real impact of a data breach entails financial losses, affects brand reputation and customer relationships, causes operational disruptions and monetary penalties if the company or organization fails to comply with data protection laws.

By stealing this data - empowered by a hacker or malicious employee - the individual can use it to their advantage, manipulate people interested in obtaining it, or sell it to an entity illegally.

How to protect the business from data breaches?

Since data breaches can occur in a variety of ways, it is critical that businesses are aware of and make use of practices and strategies to protect and maintain the security of the entire business.

There are several possible practices that businesses can adopt in order to secure and protect the data of the entire business, such as: 

- the installation of antivirus and malware identification programs;

- installation of intrusion detection systems and firewalls;

- protection through strong and different passwords for each service in use;

- protection of wireless networks; data backup; reinforcement of cloud data protection;

- investment in VPN (virtual private network);

- awareness of employees to reinforce care regarding unsafe practices and potential attacks such as phishing.