Data security is a collection of strategies, tactics and best practices to reduce the possibility of a breach or exposure.
The cost of a lack of security of data can be hefty. It can cost an organization money and reputational damage. It can also https://myhomedataroom.com/business-environment-with-secure-data-room/ take time and money to investigate the incident and recover.
Cyberattackers can use the data that you save to steal personal data about your customers, leak confidential records of business or corrupted data. They may also try to extort money by encrypting your files and demanding an amount of ransom to gain access. This could lead to a loss of revenue and legal action, and can have a negative effect on your capacity to offer services.
In addition to the obvious financial and business consequences, a data breach can be costly in terms of regulatory penalties. For financial companies, for instance they could be liable to regulations and laws such as the Payment Card Industry Data Security Standard (PCI DSS).
Whether your data is stored in a database or in use it is vital to have strong security measures for your data. This could include access control, which gives only those who require it to have the right access privilege — as also authentication and encryption, which ensure that a person is the person they claim to be. It is vital to have a secure backup copy of your data that you can access if there is an error in the system. It is essential to regularly update your systems to clean out obsolete or unneeded data.