Insight > IT Systems
How to safeguard your organization from catastrophic data breaches
Data breaches are a major threat to organizations, with the potential to cause significant financial loss.
According to a study by IBM Security, the average cost of a data breach in the United States is $9.44 million – a total that includes:
- Downtime and lost business
- Legal and regulatory expenses
- Forensic and investigative activities
- Crisis management
- Notifications to data subjects
- Reputational damage
The financial cost of a data breach is only part of the equation. Organizations must also consider the time and effort needed to remediate the breach – which can be considerable.
Here are five ways you can help protect your organization from data breaches:
Implement strong password policies
Passwords are a common way for cyber criminals to gain access to sensitive data. Implement strong password policies that ensure users create strong and unique passwords, change them regularly, and use multi-factor authentication to verify their identity.
Keep software up to date
Outdated software is an easy target for cyber criminals. Developers often release patches that address security vulnerabilities, so it is essential that these patches are installed as soon as they become available. It is also important to regularly check for new ones.
Adopt a zero-trust security model
Zero-trust is the best approach for cybersecurity in 2023. This model assumes that all users and devices, both inside and outside an organization, are potentially malicious until they are authenticated and authorized. Read our Insights article for more information on zero-trust security.
Create a response plan
Your organization must have a response plan in place in the event of a data breach. It should include a detailed process for responding to the incident, identification of the source, and steps for preventing further incidents.
Train your employees
Employees are the first line of defense when it comes to protecting your organization from data breaches. Make sure everyone knows how to recognize potential threats and respond if a breach occurs.