It takes an average of 206 days to detect a cyber attack. As a company director, keeping your business protected from outside data breach impact is a tough and very much ongoing responsibility. Businesses are regularly encouraged to protect themselves against data breach impact from infiltrating via outside sources, with many companies admitting ongoing concern over outside threats triggering a data breach. In addition to this, more worryingly many vulnerabilities could by lying much closer to the business, through internal sources.
All companies would like to think that they have employed the most trustworthy of staff; however sadly in some circumstances, this may not be the case. According to the recent, ‘Verizon 2019 Data Breach Investigations report’ the inside threat of data breach impact is on the rise, with 34% of all breaches in 2018 caused by insiders.
Assessing what is happening inside of a business in terms of who has access to data, where data is stored and if passwords are regularly updated is extremely important. Commercial businesses are urged to be as vigilant on the inside as much as being wary from outside cybercrime, with workplace hacking and employee hacking now recognised as a much larger threat than previously thought.
The fact that companies may turn over staff quickly or that employees could gain access to files through a variety of routes together with our reliance on cloud services to save data and store files means that employees and even ex-employees can now rapidly access data files without much authority at all and in light of recent data breach impact incidents such as Cathay Pacific, MGM resorts, Estee Lauder and even the FCA, covering all levels of data breach threats has never been so important.
To reduce the momentum of data breach impact and bolster data security, companies need to promote ‘shared responsibility’ and adopt strict protocol as to who and when staff have access, followed by implementing policies which cover how data is managed and how access restriction operates in terms of when staff leave a company.
Is your business facing concerns around data breach impact? Here at Crendon Insurance Ltd we support companies to ensure that they have the correct GDPR data protection insurance in place when storing data or operating through cloud based systems. To find out more about our range of policies which will reduce the situation of data breach impact including GDPR data protection insurance, cyber attack insurance plus digital technology insurance, please contact our GDPR team today.
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