We’ve all seen the destructive fallout of data breaches at large Australian companies like Optus and Medibank. However, given the size and notoriety of these corporations, it’s easy to assume that your enterprise will fly under the radar, staying safely out of harm’s way while hackers focus on more prominent targets.
The unfortunate truth is that even the smallest operations can be lucrative targets for cybercriminals. The financial gains will certainly be less impressive. However, it’s also far more likely that smaller enterprises will have less intense security measures to bypass. Add to this the fact that many business owners don’t report cyberattacks, and hackers have a recipe for quick and easy money.
As a business owner, you never want to experience the gut-wrenching shock of discovering that your systems have been encrypted. To ensure this is never a reality you have to face, we recommend the following seven steps for improving data security and compliance in your business.
Conduct a thorough data security audit
An IT audit is your first and most important step to improving data security. If you don’t have an in-house IT department or don’t wish to take them away from their essential daily tasks, we recommend outsourcing this project to a local Managed Service Provider (MSP).
MSPs like Invotec specialise in conducting thorough security audits, examining your entire IT infrastructure to uncover all problems and potential vulnerabilities. Though we can’t speak for all MSPs and their processes, our next step is to address every issue identified and swiftly bring your systems up to standard.
Business continuity is central to the success of any enterprise, so our goal is to ensure you have the resilience needed to withstand not only a cyber-attack but also a natural disaster or accidental data leak.
Manage internal threats
Whether malicious or unintentional, internal threats are far more likely to harm your business than brute force attacks. If your team isn’t sufficiently trained in cybersecurity measures and common attack vectors, they’re at risk of making mistakes that allow hackers to infiltrate your systems.
Many of the most infamous attacks from the last few years – think Okta, Twilio, and – were achieved via social engineering. In other words, the hackers tricked company employees into divulging their login details. So, be sure to engage in regular cybersecurity training sessions, use multi-factor authentication wherever possible, and regularly communicate the importance of cyber hygiene to your team.
Round-the-clock support from a Managed Service Provider will give you a powerful layer of protection against internal threats. Your MSP can monitor user behaviour, spot anomalies, and take instant remedial action.
Examine your data disposal mechanisms
One of the most frustrating aspects of the Optus data leak was that customers who hadn’t been with the telco for years also had their data exposed. It’s one thing to have your sensitive information leaked from a company you know is storing it. To find out that a company you haven’t dealt with in years exposed your personal information to hackers is nothing short of infuriating. For this reason, it’s crucial to perfect your data disposal mechanisms.
You’ll need to understand the relevant data privacy laws, industry regulations, and contractual obligations to ensure you obtain, maintain, and dispose of records correctly. From here, you can create processes to safely store and delete data from your systems, remembering to cover any hard copies you may keep on your premises.
Automation can be your best friend when it comes to data compliance, as it removes the possibility of oversights and human error. Email is ripe for automation, allowing you to streamline the process of archiving and deleting emails containing sensitive data. If you’re interested in automating your data compliance processes, discuss the possibilities with your MSP or in-house IT consultants.
Get detailed about access management
This step applies to both digital and physical access. It’s easier to just give team members access to everything after onboarding. However, this lays the foundation for accidental and malicious data leaks.
Instead, take the time to assess the access needs of every individual who uses your systems and enters your premises. Your MSP or IT department should be able to help you customise each team member’s credentials, giving them access to everything they need to perform their role but nothing more. Similarly, a biometric access control system on your premises will allow you to create individualised permissions for each team member, ensuring they’re only able to enter the parts of the premises they need to access to perform their duties.
Improve your physical security
When we think about data breaches and data loss, it’s easy to focus solely on the digital side of things. However, physical security is a crucial dimension of cybersecurity. Cybercriminals aren’t shy about breaking into businesses to steal devices that contain the data they’re seeking. So, it’s crucial to have adequate physical security measures – think CCTV cameras, alarm systems, and 24/7 monitoring – in place.
Prepare for data requests from current and former customers and employees
In the wake of infamous data breaches like the Optus and Medibank attacks, many people are tightening up their personal security. People are taking a more conscious approach to their data, and one element of this involves contacting former providers and employers to determine whether they’re storing any sensitive data.
For this reason, it’s crucial for modern businesses to have pre-established processes covering data requests. Former clients, customers, employees, and other stakeholders may want to know whether you’re storing their data and what you’re storing. They may also request that you delete their accounts and records.
To be able to respond to these requests in a prompt and appropriate manner, you need to understand your legal obligations and develop your processes from them. For example, a former customer may contact your company asking that you delete their data. The laws governing your industry may state that you need to maintain certain data for a set period of time. However, if you have no set process in place, the employee who handles the request may simply comply with it and erase the information.
If, by contrast, you have pre-established processes constructed from the relevant legislation, the employee would be equipped to respond promptly, inform the customer of the data you’re required to keep, direct them to the legislation governing this decision, and let them know the end date. If relevant, they would also be able to direct them to any means of appeal available.
Avoid unnecessary IT complexity
It’s easy to assume that the more IT tools you have, the better protected your business will be. However, this is rarely the case. You certainly do need adequate tools. However, you must be incredibly careful not to waste your IT budget on unnecessary add-ons that only create more work and confusion for your IT team.
For example, the more complex your firewall configuration is, the more likely you are to create exploitable vulnerabilities. Indeed, tech research firm Gartner claims that “99% of firewall breaches will be caused by misconfigurations, not firewall flaws.”
Beyond your firewall, it’s crucial to avoid wasting your cybersecurity budget on tools that aren’t worth the investment and that create distractions for your IT consultants. The best way to cut the fat and hone in on the most effective suite of tools is to let IT experts take the lead. Ideally, you should bring in an MSP that specialises in cybersecurity to consult with your in-house team, develop an effective strategy, and determine the best suite of tools to carry it out.
If you have any further questions about data security and data compliance, Invotec is here to help. Our friendly IT consultants are just a call or email away, and they’re always happy to help business owners develop a more robust and secure IT environment. Contact Invotec today, and we’ll connect you with an IT expert who understands the unique demands and complexities of your industry.
