Business Data Security Strategies

By CIOReview | Wednesday, January 30, 2019

Cyber breaches are prevalent in the market, and many services have fallen prey to miscreants or have suffered accidental data breaches and leaks. Legislators have passed laws related to data breaches. Big organizations are fined in millions by violating the country’s personal data protection act. According to the World Economic Forum, data breaches are on par with natural disasters and climate change when it comes to top global risks. Nearly 50 percent of the IoT companies would not know if their devices have been breached if security doesn’t keep up with technology. Here are a few solutions to the data breach problem:

Enter: Blockchain

The robust security of blockchain makes it perfect for cybersecurity. The technology was created with safety in mind to stop data breaches or exploiting traditional, centralized methods of storage and access. There is no single point of failure. If somehow a hacker breaches the system and disrupts one node, it would not affect the security of the entire data recorded on the ledger. Several industries are exploring blockchain as a mean of regulating and authenticating data exchanges.

Cyber Security Policy

75 percent of company leaders believe that cybersecurity is their top priority. However, most of them can’t determine a plan of attack. Hackers get accustomed to new technologies and cause more damage. Organizations should discover their weak spots and the data which requires most protection. A global insurance company spent $70 million security initiative, but such measures were never implemented. This caused significant resistance from other business areas. They finally found success by creating an analysis project with all impacted business areas and identifying what needed security. This led to gaining an action plan to move forward.

Defense Methods

Hackers are getting smarter and launching a massive attack is getting cheaper. Businesses that follow a passive approach to data security are most at risk. These organizations need to deploy active defense methods. Anticipating potential attacks and responding to them in real-time is a part of these dynamic defense methods. Implementing intrusion and anomaly detection systems such as Java offers excellent security. Java programs run in a sandbox environment can prevent many activities from untrusted resources.