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Data Loss Prevention for Businesses: Why it matters and How to get started?

Security breaches have rocked 2020. The Global outbreak of Covid-19 has fundamentally changed the threat landscape and attacks on organizations, bringing astonishing amounts of data into the hands of the hackers. It has been one of the most challenging years for data privacy and security for businesses  – and a wakeup call for CISOs and corporate legal departments everywhere.

Covid19 has brought increased focus on BYOD implementations, data portability, and employee mobility, with the sheer number of devices and networks to track are burgeoning. Considering that, Data volume has grown exponentially, dramatically increasing opportunities for theft and accidental disclosure of sensitive information. Implementing right data security measures not only helps avoid data breaches but also shields your organization against unnecessary financial costs, loss of public trust and potential threats to brand reputation and future profits

Although data breaches in the case of bigger conglomerates often grab headlines, smaller companies are facing an equally daunting number of cyber threats. Independent reports suggest that less than thirty percent of these organizations can mitigate threats, vulnerabilities, and cyber-attacks with the right security tools.

To help maximise data security, CISOs and CEOs need to prioritize DLP (Data Loss prevention) security strategies and tools. DLP solutions should be implemented at the endpoints, on server, and across the cloud storage. Data Loss Prevention (DLP) through its core technologies enables content inspection and contextual analysis of data sent via email, instant messaging, in motion over the network, in use on a managed endpoint device, and at rest on servers or cloud applications and cloud storage. The DLP solution accurately identifies the sensitive data and executes responses based on company policies defined to address the risk of inadvertent or accidental leaks or exposure of sensitive data outside authorized channels.

Let us get started on key practices every enterprise should follow when implementing DLP Solutions.

  • DLP should be used as a part of the broader security architecture. Company management must begin with identifying the top security problems and ways DLP can address the challenges. An ideal DLP solution must meet the organizations need of compliance, property protection (data and IP), and enhanced security awareness. When applied as a part of larger data loss management efforts, DLP products can mitigate the risks of malicious actions, faulty business processes, and mishandling of confidential data.
  • Identifying the flow of data. This includes classifying sensitive data – where it is stored, the network path through which it is accessed, and the endpoints which are allowed to process it. The analysis should also include the kind of technical controls currently in place to monitor the access, modification, storage and transmission of sensitive data. Additionally, the way data flows between the departments and outside of the organization too.
  • Treat your data as an enterprise asset. The business value of the data and the risk associated with it may vary time and again. DLP solutions must be used to manage the data throughout its lifecycle. When is your data more likely to be compromised in use, in motion, or at rest? Identify the threat agents – does your data face a higher amount of internal threat or external threat? Identify the forms of data loss threats for your business to pick the best DLP solution for your company’s needs and requirements.

With the number of internet-connected devices on a rise, preventing data loss, managing data recovery, and tackling data leaks has become a top priority for an enterprise. Implementing a solid security policy will help limit the damage from any data loss incident, protect an organization’s brand image and value, and create a competitive advantage. Developing clear data loss prevention strategies with concrete evaluation is, therefore, the key to manage and protect sensitive corporate and customer data.

By Filip Cotfas, Channel Manager, Cososys

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