Data Loss Protection (DLP) - Defacto Security
DATA, the vital element that keeps every organizations’ alive like red cells in a living body. We need to protect company’s data because we have a lot to lose; reputation, value, finances, and aura of healthy competition with your counterparts. Luckily, at the moment there we have specialized industry dedicated exclusively to help companies avoid data loss, a technology known as DATA Loss Prevention, or DLP for short.
DATA Loss Protection (DLP) is a set of strategies accepted by organizations to ensure that personal or business sensitive data is not misplaced, accessed, or tainted by unauthorized users. These strategies are software and tools specially built to monitor all activities on a company's network. In addition, these tools ensure that no harmful data enters the system.
DLP technologies accomplish two principal functions.
- Identification of sensitive data that needs to be protected
- Prevent loss of such data in any form possible
Loss of files, data, and information, as well as accidental deletion, are sometimes unavoidable in cases of fire outbreak, flood, and system failure. However, this has pushed several companies and businesses to come up with their unique DLP strategies in order to prevent any loss that may arise from any of these accidents. various reports conducted by independent organizations have it that over 70% of businesses are prone to data loss due to attack and accident.
DLP is proactive rather than reactive when it comes to preventing data loss. It often uses artificial intelligence (AI) to watch out for virus activity and suspicious behavior. This is to ensure that it stops any unwanted moves before leading to loss of data or cause any damage and that IT personnel can be alerted to rectify the problem.
Let’s look into how businesses and organizations should set up a DLP strategy. This blog is an attempt to provide glimpse, I am hopeful you'll understand what you need to know about securing your sensitive data and information and why it is of utmost importance.
Why is DLP important to all Organizations
1. Prevention of external attack on the Organization's Network
Over the years, cases of external attacks on secured organization systems have increased exponentially. Despite the sophisticated tools and strategies that these organizations adopt, the cyber-criminals or hackers on the other end would find a means of breaching the network. Sometimes, they may develop even more sophisticated tools to help in the breaching of the network. To tackle this, you need to use the best data loss prevention software.
2. Internal threats from employees
Sometimes, the attackers of a company's server and database are the people working in that same company. They may carry out the act in a bid to get back at the management or deliberately harm the company's reputation without any reason.
Since they have access to almost every sensitive data of the company, it may be very easy for them to carry out the attack than it will be for outsiders. This is especially dangerous if such a disgruntled worker is high-ranked because they have better access than others. According to a DATA Breach Investigations Report published in 2018 by Verizon, 28% of attacks on company servers are carried out by insiders (employees).
3. An accidental leak of confidential information
Sometimes, the employees may not have the intention to divulge sensitive information about the company to a third party. Information could be leaked to a third party by accident. It could also be a perfect bait by hackers to ruin the reputation of the company. These hackers study their target company and lure them in by choosing a victim within the system (employee) to launch the attack. The cybercriminals are very pragmatic such that they will have the victims divulge the information to them at all costs.
4. Protection of the Company's reputation
It is expected of every company to announce their data loss event when it happens. This will go a long way to salvage the image and reputation of the company. It will also help them to convey the message to their vendors, stakeholders, prospects, and customers. Regardless of the measures taken to recover from the loss, it does not change the fact that the deed has been done already. As a result, the value and trust of the company will have automatically plummeted.
In a bid to control this, some countries have introduced strict policies on data protection for companies, organizations, and businesses. So, each time a company loses its data to cybercriminals, they will have to pay a ransom. This is why data protection strategies such as endpoint network traffic inspection and file system controls should be put in place.
5. Securing a competitive advantage
The inability of organizations to take necessary steps towards securing sensitive data will deprive them of many benefits. Hence, it may affect their overall output. In most cases, companies that do not have a DLP policy in place will not be able to compete with their counterparts. A DLP policy will undoubtedly promote the reputation and market significance of an establishment. Companies that refuse to employ the best strategy when it comes to protecting their sensitive data are largely exposed to cyber-attacks which could lead to many things such as financial mess and loss of value.
6. Protection of confidential information in cloud storage and applications
DATA storage is one thing that every company does in their day-to-day activity. Companies move their sensitive data to cloud applications where data are stored virtually. However, it is not always certain if this information and data are actually safe in cloud applications. DLP, on the other hand, ensures that all information leaving the company's network to the cloud is encrypted and only moved to authorized applications.
7. Poor BYOD and Security protocols
If companies are not able to manage their Bring Your Own Device (BYOD) protocols, they are likely to lose some of their sensitive information to the employees. The IT officer of every company should restrict employees from accessing data or fetching them directly from the company's network to individual storage devices.
In summary, all companies must devise a means to protect its data, realizing the fact that one doesn’t know how observant employees are to differentiate classified and publicly sharable information or who is against the reputation and growth of establishment among its employees. Sometimes, it could be that someone is stealing some of your sensitive data and sell to people offering them a high amount for it. To prevent all these, you have to adopt a DLP strategy in your business.
Please contact DTS Solution how we can assist you to review and improve your existing Data Protection Solution.