What Does a Data Breach Mean to You?

Did you know that the cost of a data breach can be millions of dollars? According to a Ponemon Institute Cost of Data Breach Study as reported in a Security Intelligence article, “the average total cost of a breach ranges from $2.2 million for incidents with fewer than 10,000 compromised records to $6.9 million for incidents with more than 50,000 compromised records.” In this BlogBytes, we will discuss what you can do to avoid these costly breaches with multiple layers of protection.

Costly Breaches

The previously cited article also states that mega-breaches involving up to 50 million records could cost an organization as much as $350 million. In 2017, 145.5 million consumers were affected by the Equifax breach!  There are many issues that a data breach can cause including notification expense, loss of business, compromised customer loyalty, fines and penalties, reduced stock value and more! An organization must protect itself from experiencing a breach, and if one occurs, it must recover as quickly as possible.

The Layered Approach

Many firms are implementing a layered approach to defend against data breaches. Each layer can slow down, stymie and help prevent a breach. This includes both process- and technically-oriented actions. Forbes discusses several preparatory security procedures to help prevent a breach including:

Involve employees in protecting data – use a cyber-security specialist to train employees regularly on how to encrypt data, generate strong passwords, be aware of suspicious emails, attachments and links that can harbor malware, and to properly file and store data.

Enforce restrictive data permissions – most breaches occur through the front door due to an employee breach. Businesses should constantly ensure that employees only have access to any critical information that is necessary to their jobs.

In addition, the use of robust anti-virus systems is essential to help guard against hacking and malware – keep these systems updated on a regular basis.

Critical Layers

The actions above can be effective approaches to help prevent a breach; however, odds are that a breach will eventually occur. If so, make it difficult for the intruder to get access to your most important data. Employ these critical layers of protection.

Encrypt the data:  LTO technology has built-in data encryption that does not impede the backup process and helps prevent access to data should it fall into the wrong hands.

Keep data offline:  LTO technology can provide an air gap between data and the online system. When a cartridge is removed from the drive, there is no electrical connection to systems – the data is offline. Therefore, hackers and malware are prevented from accessing the information!

When a data breach can be avoided, or at least the damage minimized, millions of dollars can be saved as well as maintaining customer loyalty and company reputation. Use effective layers of protection, including LTO-8 technology, for the ultimate data protection.