Contact us anytime to know more — Kuldeep K., Founder & CEO CISIN
It is crucial for organizations to maintain data with regard to its confidentiality, integrity, and availability - which involves keeping its details private while assuring accuracy and allowing authorized parties to gain access.
This practice ensures this integrity remains intact within an organization.
Data Protection should include policies, technologies, controls, and procedures designed to safeguard any information created, collected, or stored by an organization.
What Is Sensitive Data?
A company's sensitive data includes any sensitive personal or financial data it holds about customers, employees, or business partners that must remain protected against unwarranted access and disclosure.
Your business likely handles sensitive data related to:
- Personal Data refers to information that uniquely identifies an individual, such as their name, address, telephone number, and birthdate or sensitive health records.
- Financial Data includes banking/credit card/Social Security number information as well as Social Security numbers.
- Businesses Store Varied Data Types that May Cause Significant Harm to Them If Taken or Leaked: Businesses possess various kinds of sensitive business data which could prove disastrous if stolen or leaked - this includes intellectual property, trade secrets, financial data, accounting records, confidential supplier details, etc.
Identifiable Information, or PII, refers to data that could allow someone else to impersonate an individual and commit fraud and identity theft. As this data can potentially compromise a person's privacy or integrity, its usage and protection are strictly regulated.
To safeguard the sensitive data that you possess, it's vital that you plan and implement security with appropriate tools.
Knowing where the data resides, as well as its intended use, is paramount for effective data protection.
Why Does Data Protection Matter?
Every organization relies heavily on its data. Information holds the keys to their survival.
Data can often be described as being of paramount importance in any organization, and its protection should be treated with great caution and priority.
In digital environments, however, protecting assets requires more complex measures. Since data holds value as an enterprise asset, it must remain accessible. Here are some of the most common compliance standards.
Data breaches pose an ever-present danger for organizations of every size and industry, regardless of size or sector. Cyber incidents have been responsible for numerous data breaches in recent years. They may include:
Accidental leakages or exposures, phishing or other cyber attacks, distributed denial-of-service attacks, and physical breaches all present risks to data security that even well-established and large companies can fall prey to.
Costs associated with data breaches include remediation, downtime, and business losses; fines could be assessed by authorities; in extreme circumstances, a company might even go out of business or even declare bankruptcy.
Data compliance is the process of developing policies and procedures designed to safeguard data. It involves selecting applicable standards, then implementing controls in accordance with them to meet the criteria set by them.
Data compliance closely aligns with regulatory compliance; to meet its standards requires using specific controls and technologies as specified.
Here are some of most common compliance standards:
- PCI DSS
- HIPAA
- Federal Information Security Modernization Act of 2014
- Sarbanes-Oxley Act
- GDPR
- CCPA
PCI DSS, an international standard created to secure credit card, debit card, and cash transactions data globally, is designed with cardholder information in mind as it defines guidelines regarding cardholder information management access controls and networks processing transactions
Audits of regulations are regularly performed by organizations to demonstrate they follow policies outlined within each regulation.
Data security is key to maintaining customer confidence, building relationships, and upholding an exemplary company image - essential factors when maintaining competitive advantages; otherwise, everyone would know how to make Hershey Kisses using all necessary equipment available - leading the Chocolatey at risk of incurring immense financial loss in its endeavor.
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Data Security Types and Technologies
Before an organization can effectively secure its data, they need to know exactly what's stored. A data inventory - an inventory that lists every piece of information created, stored, and utilized within an organization - is key.
Data discovery involves discovering where existing and formerly nonexistent information resides before classification processes take over in making data easier for users to store, manage and secure.
These are the four categories of data classification.
- Public Information
- Confidential information
- Information that is sensitive
- Personal information
Many types of confidential or sensitive data fall under this classification, including but not limited to. Often, sensitive data is classified as secret or confidential.
This includes the following types of data.
- Personal identifiable information
- Protected health information
- Electronic protected health information
- PCI data
- intellectual property
Data in motion refers to information being transported; at rest is any stored or delivered information, while usage refers to written, updated, and changed files that do not need to be stored or transported at this point in time.
One technique cannot provide protection for all forms of data; to properly secure everything requires employing an approach combining tools, techniques, policies, and strategies utilizing defense-in-depth techniques and policies. Here are technologies essential for Data Security:
- Encryption
- Data masking
- Access control
- data loss prevention (DLP)
- Data backup and resilience
Encryption
Encryption, commonly referred to as ciphertext or encryption, involves turning plaintext data into unreadable ciphertext by applying an algorithm and key.
Such encrypted information cannot be deciphered without possessing both keys for decryption.
Common ciphers include both symmetric and asymmetric types:
- Symmetric encryption uses one secret code for both encryption and decryption purposes; AES (Advanced Encryption Standard) is one such algorithm widely employed for this type of key protection.
- Asymmetric encryption utilizes two interdependent keys; one key serves to encrypt while the other decrypts.
Data Masking
Data masking refers to the practice of hiding data to keep it out of view and readable. Data masking offers an effective solution for protecting sensitive information while concealing its appearance - for instance, by replacing valid information with faked or falsified masked versions in order to maintain referential integrity between systems and platforms.
Here are a few examples of data masking:
Scrambling can also include shuffling data, data aging, masking out, and nullification; all can help conceal sensitive information for user training, software testing, or analysis purposes if appropriate.
But this type of masking should only be done with necessary data sets, such as user training data sets for software testing or data analytics applications, and not sensitive information such as social security numbers and credit histories.
Encryption and masking both produce similar outcomes: unreadable data upon being intercepted. However, their processes differ significantly.
Access Control
One effective method for safeguarding data is restricting who can gain entry. By restricting who can view, edit, or delete records, only individuals with valid authorization can see, modify and delete information.
Access control encompasses two principal processes:
- Authentication and authorization are two processes designed to verify users are who they claim they are while simultaneously authorizing authenticated users can gain access to any necessary resources and data they require.
- Authentication, authorization, and role-based access control are core processes and techniques of Information Access Management (IAM).
Multi Factor Authentication (MFA), the Principle of Least Privilege (PLP), role-based control, and Privilege management are other fundamental IAM processes and techniques; password hygiene, including setting minimum length requirements and uniqueness, is equally as vital to overall IAM success.
Zero-trust access control strategies have quickly gained prominence as they guarantee continuous access control.
Data Loss Prevention
Data Loss Prevention [DLP] systems are an integral component of enterprise security strategies, monitoring data to detect anomalies or policy violations and alert them quickly and reliably.
Some DLP platforms integrate with SIEM technologies for alerts or automatic responses if desired, providing alerts when issues are detected that require manual investigation or response by other means.
Data Backup
Data backup refers to the practice of creating copies of databases and files at secondary storage locations - usually offsite - with the goal of being restored from lost, corrupted, or stolen sources should they become necessary - making disaster recovery plans incomplete without data backup plans in place.
Data Security, Privacy & Protection
Protection, security & privacy are distinct concepts but overlap. Data Security. Data security refers to safeguarding digital information against unauthorized access as well as loss and corruption, both of which must remain protected from unauthorized use and loss.
Compared with privacy concerns alone, however, which focus solely on confidentiality aspects, data security protects both integrity and accessibility at equal levels.
Imagine, for instance, that an attacker obtains an encrypted document that prevents them from reading it; data privacy remains secure while inaccessibility of its contents remains maintained; however, attackers could still manipulate or delete these illegible files, constituting an unacceptable security breach.
Achieving data privacy involves making sure an organization collects, stores, and uses sensitive data in accordance with relevant legislation and in an ethical fashion.
Privacy policies and measures aim to restrict unauthorized parties' access to the data regardless of who may gain entry: internal users, external threat actors, or third-party partners.
Data protection ensures that lost or damaged information can be recovered if lost, stolen, or corrupted - making it an integral component of any comprehensive security strategy and an invaluable last resort should other measures fail to secure data.
Other Data Security Best Practices Include:
Enterprises should adhere to well-established data security best practices in order to successfully manage risk and address the difficulties mentioned above.
Organizations should conduct an inventory of what data exists across their organization's various applications - understanding exactly which areas the use of the application is key in safeguarding this information effectively.
Regular security audits and formal data risk analyses can assist organizations in recognizing potentially sensitive information as well as any gaps or vulnerabilities within existing security controls.
Step two is for enterprises to determine how they plan to address any gaps identified in data security by exploring tools, technologies, and techniques such as those recommended by experts like those outlined herein.
Cloud Security: While cloud computing offers numerous advantages to enterprises utilizing SaaS or IaaS services, including scalability, cost savings, and increased flexibility, cloud security remains a significant risk. Credential management, key control as well as data exposure/disclosure must all be managed carefully for enterprise clients who use SaaS or IaaS solutions.
Data Lifecycle Management: DLM is an automated solution for keeping large volumes of digital information secure and accurate while meeting compliance requirements, including timely destruction. Policies under DLM vary based on factors like data attributes like size, type, classification, or age; within such a framework, the main phases include generation/collection /process & storage/use and achievement - to name but a few.
Patch management: Unpatching known vulnerabilities is like failing to repair broken side locks on homes that otherwise remain secure - patching software as soon as possible will reduce attackers' opportunities to gain entry and compromise company property.
Data security can be at stake due to both deliberate and accidental mistakes by employees, contractors, and business partners; as a result, awareness training on topics like phishing attacks and organizational security policies is of critical importance for maintaining data integrity.
User Behavior Analytics: UBA (also referred to as Entity and User Behavior Analytics or UEBA) detects attempts by individuals or users to gain unwarranted access to sensitive data or systems, thus protecting networks against lateral attacks as well as uncovering insider threats and exploitable accounts. UEBA may be used for multiple uses: network intrusion detection, compromised account monitoring, and uncovering insider threats among them.
Read More: Developing an All-Inclusive Data Security Strategy
How to Establish an Information Security Policy
A solid information security strategy must be designed in order to properly implement technologies, tools, and techniques as described herein.
A formalized data protection policy is vital in order for an organization to achieve these essential goals:
Set out expectations and responsibilities related to data security; demonstrate compliance with applicable privacy and security standards or laws.
Prepare for the Worst
In terms of data security, prevention is always preferable to cure. Although following best practices may help avoid breaches in data, they cannot ensure they won't occur - in order to minimize financial, legal, and reputational harm in case prevention measures fail, organizations should develop comprehensive breach response plans as part of their cybersecurity programs.
Data Security Technologies Implementing security solutions into your business's network infrastructure can help prevent data breaches, reduce risks, and ensure all necessary precautions have been implemented to keep its assets safe from threats and ensure they have all been implemented appropriately.
Data Auditing
Audit software systems allow organizations to keep tabs on changes made to data, records of who accessed sensitive information, and file paths used.
Audit methods provide critical evidence when investigating potential breaches in security.
Data auditing tools also give IT managers insight into any unapproved changes or potential breaches - thus helping to detect them early and avoid future incidents.
Data Minimization
Businesses previously saw having as many data points as possible as an asset; after all, having more may prove useful at some point in the future.
Now, however, large amounts of information are becoming an increasing security risk as hackers become more attracted to hacker targets as more data points accumulate; hence data minimization must now become part of any successful security plan.
Risk Analysis
Conducting risk analyses will enable your business to quickly identify sensitive data as well as those which have become overexposed, providing effective strategies and repeatable tactics for prioritizing and responding to major security threats.
The method starts by identifying sensitive data such as outdated or permissions-inconsistent records. A thorough risk analysis will reveal important findings, reveal vulnerabilities and prioritize remedy recommendations.
Real-Time Alerts
Unfortunately, businesses often take several months before realizing there has been a data breach, often using internal IT staff rather than customers or vendors, or contractors as targets of attack.
Real-time monitoring systems enable faster detection of Data Breaches, protecting personal information against destruction, loss, or modification.
Purge Stale Data
Anytime data is absent from your network, it cannot be compromised. As part of that effort, any outdated or redundant files should also be erased using systems designed to archive unwanted information and track file access.
Even small networks tend to possess servers that sit idling.
What Are The Data Security Challenges and Risks?
Protecting data can be challenging, yet its theft provides both businesses and criminals with huge opportunities.
Enterprises today face an uphill struggle when it comes to protecting their data. Consider these persistent hurdles and risks.
Insider Threats
The end-user, whether they be former or current employees, third-party partners, contractors, or any other source, poses one of the greatest dangers to data security in an enterprise.
Insiders could abuse their access privileges in order to steal or compromise sensitive data for personal gain or financial profit. Unintentional insider threats are no less dangerous.
End-user negligence alone, without malicious threats in sight, can lead to the accidental disclosure of sensitive data.
Employees could send confidential documents in the wrong direction or send them to unprotected accounts unknowingly uploaded. It could also result in accidental exposure, or someone may misplace their laptop without notifying IT, thereby leaving it open and accessible to anyone who finds it.
Misconfigurations
Misconfigurations pose another significant security threat that could result in the accidental disclosure of confidential data.
Third-Party Risk: Any company is only as safe as its third-party partners - be they customers, suppliers, or contractors.
Organizations today face numerous obstacles related to data sprawl and mismatching compliance laws that create significant difficulties with regard to data storage needs and usage patterns.
Data Security: Six Strategies to Protect Your SMEs
Data Security for Small Business Information is increasingly valuable to any successful organization; 75% of consumers won't buy anything from companies they don't trust to protect their personal information, while last year, the data breach rate rose 68% higher than it had ever been previously.
Here are six strategies you should implement immediately in your small business to secure data protection against breaches that might happen due to negligent data handling or lack thereof.
Cybercriminals are drawn to IT environments due to the exponentially greater attack surface created by working from home and the lack of security measures.
Compromise credentials (19%) are among the primary drivers; cloud misconfigurations (18%) can also present vulnerabilities, while third-party applications (16%) present another potential entryway into an environment for potential crime.
Businesses don't want to become just another statistic in cyber security. Unfortunately, some SMEs believe cyber criminals only target large firms or big names; as a result, they fail to implement robust security controls for themselves and risk falling prey to cybercrime.
Data security policies follow three core principles - confidentiality, integrity, and availability (CIA triad). This framework offers organizations protection from threats such as data leakage or breaches, malware infections, or even phishing attacks.
- Confidentiality- refers to making sensitive data only available to authorized individuals without compromise.
- Integrity- refers to data being consistent, accurate, and trustworthy throughout its entire lifetime.
- Availability- refers to making information readily available when needed by authorized parties.
To protect data, the CIA triad serves as the cornerstone for developing appropriate security policies and procedures.
We'll explore various controls and solutions organizations can implement to guarantee the confidentiality and integrity of business data.
Identity and Access Management
Compromised credentials and ineffective access controls pose serious security threats, leaving sensitive business data open for theft from both internal and external actors.
Controlling who accesses this data is essential to protecting its confidentiality, so organizations need to implement robust Identity and Access Management (IAM) Policies which include provisions like these:
SSO allows users to sign into multiple systems and applications using one set of credentials, significantly decreasing friction and improving productivity.
Multi Factor authentication requires users to provide at least two independent forms of identity proof - for instance, a password and SMS code sent directly to a phone.
Role-Based Access Control (RBAC) refers to granting privileges and rights based on users' roles within an organization.
Data Encryption
Keeping confidential information private requires encryption technology - one way of maintaining confidentiality while at the same time safeguarding sensitive details.
Encrypting data is an invaluable security measure, both while it's traveling from point A to B and at rest on remote systems.
There are two methods of encryption used today - symmetric (where data is encrypted using and decrypted with one key) and asymmetrical (where multiple public and private keys are employed to encrypt and decrypt), with Advanced Encryption Standard being considered the gold standard of data security today; businesses should consider full disk cryptography with BitLocker tools for remote systems protection.
Backups of data
As previously discussed, data integrity is one of the cornerstones of information security. An effective backup plan coupled with encryption helps maintain that integrity as it shields against malware attacks or permanent data loss.
An effective data backup plan generally involves three steps.
Identification and frequency of data to be backed-up:
- Selection of storage solution (disk, cloud, or any combination);
- Establishment of recovery objective (RPO). RPO defines the maximum amount lost before any impact on operations occurs.
- Establishing a recovery-time objective (RTO) allows companies to establish the minimum time within which their data backups can be retrieved and operations restored without incurring unacceptable consequences. Regular testing should ensure all important files have been saved safely.
Bring Your Own Device Policy
Workers continue to bring personal mobile phones and laptops into the workplace under hybrid workplace models like hybrid work-from-home.
According to the CIRA Cybersecurity research report, half of the hybrid workers claim to use personal devices for work purposes occasionally - leaving corporate resources open for theft or corruption by uncontrolled access to unmanaged personal devices used unsupervised for use during working hours.
BYOD refers to the practice of employing personal mobile devices for work-related activities. To implement BYOD successfully and safely, companies should adhere to best practices such as using strong passwords, secure network connectivity, and the separation of personal and corporate data.
Your IT department must also establish measures like remote wiping or locking of lost or stolen devices that could protect sensitive information stored therein.
Employee Training
Human error is at the core of many threats; employees represent one of the weakest links of security networks and should therefore receive adequate employee education to reduce this threat.
Social engineering techniques used by attackers have become more sophisticated. Cybercriminals use emotional manipulation, trickery, and psychological techniques to gain entry to networks and data systems.
As part of your defense against attacks like these, training and awareness promotion should be a top priority. Employees educated on its dangers are less likely to fall for it; as these attacks evolve, it's essential that we conduct ongoing security training so their knowledge remains current.
Proactive Risk Analysis
A proactive approach to cybersecurity is always preferable over a reactive one; regular risk analyses form part of this.
A cyber risk analysis's primary purpose is identifying IT infrastructure's vulnerabilities and weaknesses while simultaneously determining its most valuable information assets as well as any consequences of data breach incidents.
Business leaders can employ risk security assessments to quickly identify blind spots and address security vulnerabilities within their companies.
Furthermore, this assessment process helps improve decision-making while developing plans to mitigate risk to protect data assets.
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Conclusion
Data security can be an extremely complex challenge. From robust identity and data access controls to end-to-end Encryption and backup strategies, there is much that goes into data protection that involves many technologies and practices - professional services companies offer professional help as a service that helps businesses ensure a safer work environment while staying ahead of potential cyber threats.
