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Editor's Note: Take a look at our featured best practice, Digital Transformation Strategy (145-slide PowerPoint presentation). Digital Transformation is being embraced by organizations across most industries, as the role of technology shifts from being a business enabler to a business driver. This has only been accelerated by the COVID-19 global pandemic. Thus, to remain competitive and outcompete in today's fast paced, [read more]
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Companies often look at external threats to their assets. However, data breaches sometimes occur from the inside. For example, a disgruntled former employee gains access to sensitive files. A dishonest current worker chooses to use personal details for their own gain.
How can companies keep proprietary information and customer data confidential from those who work with it every day? Start by putting a plan in place and following through a few simple steps to protect everyone.
Spend time perfecting your company’s password policies. Strong passwords prevent an insider from gaining access to sensitive files by guessing the characters. Some rules to consider instituting include:
It’s best to stick to a strict password policy. Pull anyone into human resources who doesn’t abide by it.
Using data encryption offers an extra level of security for data that’s being sent and received. Anyone who isn’t authorized to read a message can’t understand what it says when it’s encrypted. You can use encryption for:
Only those authorized to read a message can understand what it says with encryption technology.
When an employee leaves the company, it’s crucial to remove their access to all company data immediately. This way, you can prevent the chances of employees accessing sensitive information once they no longer need it. Even leading up to an employee leaving, you can begin limiting access to certain files and changing logins and passwords. Additionally, have your IT staff scan for backdoor access someone might install before leaving.
Your IT department serves as a buffer between dishonest employees and your trade secrets. With the help of IT experts, you can make sure your systems are consistently monitored for any anomalies. A few user actions your in-house or third-party security experts can watch for include:
It’s far easier to be proactive than to deal with a data breach after the fact.
Technology is changing rapidly. The increase in machine learning and use of artificial intelligence opens the door to security breaches. Fortunately, there are numerous ways to protect information from inside and outside threats.
Put practices in place to ensure the system is updated frequently. With a bit of extra attention, you can reduce the chance of an internal data breach.
Frequent audits give you a chance to remove any users who shouldn’t be in the system and fix potential issues. Companies with remote workers may find they need to audit their systems more frequently. These are audit steps you can take on a regular basis:
Audits give you an opportunity to discover flaws in the system you might not otherwise know about.
Encourage employees to say something if they notice concerning behavior. If they feel like a co-worker might be stealing or sharing information, they should be able to come to their manager or someone higher up in the company and report it without fear of retaliation.
Train workers on the things that should be reported and why. You can also create an anonymous tips box, where employees can anonymously submit concerns they have. Find ways to reward those who look out for the company’s best interests.
Companies can install software to prevent the loss or theft of data. DLP measures usually combine methods such as firewalls and monitoring. While programs automatically stop outside attacks, insider attacks can look normal.The best way to prevent data loss is to combine:
By having machines monitor for anomalies, you can spot someone accessing files outside their normal scope of work.
HR vets new employees and has the power to stop potential thieves from entering the business in the first place. At a minimum, they should:
The organization should fully prosecute anyone who tries to steal and sell inside information. A strong front against data breaches can send this zero-tolerance signal to others.
Insider data breaches may not be as common as hackers gaining access to the system, but they can occur at any time. Take the time to ensure you have strong policies, regular audits and a plan to implement should the worst happen. While the majority of your staff would never steal information, it only takes one incident to derail your progress. Put your focus on protecting your assets from both inside and outside threats to keep momentum going and find success.
You can download in-depth presentations on Cyber Security and 100s of management topics from the FlevyPro Library. FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives.
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These best practices are of the same as those leveraged by top-tier management consulting firms, like McKinsey, BCG, Bain, and Accenture. Improve the growth and efficiency of your organization by utilizing these best practice frameworks, templates, and tools. Most were developed by seasoned executives and consultants with over 20+ years of experience.
