What we learned from the biggest data breaches of 2020 (Part 2)

Data security breaches were seen on another level last year. 2020 presented us with some extreme examples of what is at risk when data security is on the line. Last month we looked at the impact of some of the biggest data breaches of the year and what they taught us about financial data being at risk, consumer information continuing to be a hot commodity and the impact of corporate espionage and IP theft. The lessons kept on coming last year. Here’s what else we can learn.  

Beware of Scams 

Coronavirus scams started appearing with increasing frequency as the year progressed. There has been a significant number of website registrations related to COVID-19, and email campaigns from criminals looking to take advantage of both businesses and consumers eager to find solutions to challenges relating to the pandemic. All users should beware. Cybercriminals are taking advantage of the pandemic by duping users into handing over important information, whether it’s through new domains or phishing scams. When it comes to avoiding data breaches from these types of scams, the best defense is caution. Double-check domains are what they say they are. Don’t send information to anyone who might not actually need it. And approach data sharing with a renewed sense of skepticism in the current market.  

Train Your People 

Of course, mistakes happen, and it’s inevitable that those mistakes can put your company at real risk. While that risk cannot fully be avoided, mitigating the probability of human error is an absolute necessity and the cornerstone of any thorough cybersecurity plan. 47% of data breaches are caused by employee negligence like accidental loss of a device or misplacing a document online. With cyberattacks costing businesses an average of $5 million, this is an area in which all businesses need to improve. Train your workforce on the importance of cybersecurity and awareness of the risks. Don’t assume they know or can navigate the latest technologies and tools with that mindset on their own. Address common bad habits and ensure that remote work is conducted safely will help provide cover from cyber-attacks and improve the “digital hygiene” of your workforce. 

Manage Your IoT Devices 

The Internet of Things market has seen explosive growth over the last two years. The market was worth $235 billion in 2017 and is predicted to be worth $520 billion in 2021. As with virtually any form of new technology, cybersecurity has to play catch-up, and the increased use of connected devices in the workplace is no different. Nearly half of all small to medium-size businesses have experienced at least one IoT data breach. This is foremost due to a lack of security plans which cover all devices in a network. With employees bringing their own technology into the workplace, this liability is a major consideration to address. 

Have a Recovery Plan in Place 

This is an absolute must for any business. The longer a breach’s lifecycle, the more it costs and the more damage it does to the organization. You need a plan in place should the worst happen. The average time it takes for a company to identify and contain a data breach in their system is over nine months. Having a disaster recovery and business continuity plan in place to deal with attacks quickly and effectively should be right at the top of your cybersecurity agenda.  

For help making sure you are at the top of your data security game, connect with the team here at Happy Faces Records Management today. 


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