How To Ensure Data Privacy In Your Business.

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Data has evolved into today’s corporate currency. It is the foundation for so many vital aspects of an organisation’s survival, and like any other form of currency, it must be safeguarded. Hackers have also improved their methods of carrying out cyberattacks. In 2021, the global average cost of data breaches reached $4.24 million. It is now easy to penetrate a network and disseminate malware and ransomware via phishing tactics. All hackers need to acquire access to a work laptop is to deceive employees into providing credentials or opening an infected link or file through identity theft. This article highlights how to ensure data privacy in your firm. 

  1. Examine your data storage and collecting methods

You will want to audit your data regularly and get rid of dark data,’ which you do not need or are unaware you have. Because cybercriminals can’t steal what you do not have, assess your existing data collection practices and rules to ensure you know exactly what personal data you are collecting and utilising. Therefore, collect just the information you require for commercial or legal purposes. It is advised to implement an erasing policy to eliminate unwanted or surplus data. 

  1. Your staff should be trained in cybersecurity and data protection 

It’s also important to educate your staff on identifying cybersecurity issues and ensure they know your company’s data privacy policy. You can train them to handle sensitive data responsibly. If possible, you should outsource a technology company to provide IT support regarding data privacy and your company’s protection. This will ensure that all company data is kept safe and away from falling into the wrong hands. So keep this in mind. 

  1. Keep an eye on and test your data systems

Conduct frequent penetration testing to identify and solve system vulnerabilities before hackers and cybercriminals exploit them. As hacking attempts get more sophisticated by the day, cybercriminals continue to seek and target sensitive information. With this in mind, it is vital to protect customers, workers, and partners against data breaches to avoid penalties for noncompliance. 

  1. Increase mobile device security 

The trend towards remote working has raised the danger of data breaches caused by unauthorised mobile devices and insecure public networks. It is vital to avoid the unauthorised exposure of sensitive information and data by implementing security measures such as multiple-factor authentication and VPNs for secure access and urging staff to report lost or stolen devices as soon as possible. 

  1. Have a clear and easily accessible privacy policy 

You’ll find it helpful to outline the privacy regulations that apply to your countries of business in detail and make this information available on your company’s website. Make sure the policy is simple to comprehend and includes information on your company’s online information procedures. If you are a data processor, describe the categories of data your organisation can gather and keep and how this is accomplished. Allow your customers to contact your firm if they are concerned about the privacy of their data. 

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Like Minds is a global thought leadership platform delivering world class events on business development, knowledge and insight aimed at entrepreneurs and business leaders to engage, stimulate and empower them to become global businesses of the future. We also offer a bespoke service for corporate clients and training programmes under the Like Minds U brand. For more information please email bespoke@wearelikeminds.com