Data security is a collection of strategies, tactics and best practices to minimize the risk of a data breach or exposure.
The cost of poor security for data can be very high. It could cost an organization money and reputational damage. It may also take time and money to investigate the incident and recover.
Cyberattackers could use the data that you save to obtain personal information of your customers, expose confidential records of business or corrupted data. They can also extort cash by encrypting files and requesting a ransom fee to restore access. This could lead to loss of revenue and legal action as well as a stifling effect on your ability offer services.
In addition to the obvious business and financial consequences, a data breach can be costly in terms of penalties for regulatory violations. In the case of financial firms, for example they may be liable to laws and regulations such as the Payment Card Industry Data Security Standard (PCI DSS).
When your data is either stored in a database or in use, it is essential to have solid security measures for your data. This can include access control, which gives only those users who require it with the right level of access privileges, as in addition to encryption and authentication that assure that the person is the person they claim to be. It is also crucial to have a reliable backup of data that can be used in the event of a system failure or disaster. It is essential to have systems in place to purge old and unneeded data regularly.