Data Security in Business & Data Security Encryption

Chained and padlocked laptop and tablet devices | Featured image for Data Security in Business | Blog

As the world becomes increasingly connected and digitally transformed, data security in business continues to become more and more important, to the point of even being mission critical for some organisations. Not too long ago, eligible types of data breaches became notifiable in Australia, increasing the legal liabilities faced by business owners. The importance of data security in business, simply cannot be overstated in 2021 and likely for a long term future.

Continue reading to learn more about data security in business, or if you would prefer to let professionals help you with data security in your organisation, call Connected Platforms on (07) 3062 6932, get in touch online or claim your FREE IT health check now, to find out the truth about digital security in your business today.

Why is Data Security in Business so Important?

The Australian Government Office of the Australian Information Commissioner regularly releases reports on notifiable data breaches. From July to December 2020 we saw 539 data breach notifications issued in Australia, when compared to the previous period of January to June 2020 this amounted to a 5% increase. Data breaches in business can be costly in many ways from attracting legal liability through financial penalties and costs, to loss of customer trust and irreversibly damaged reputation.

Does Your Company Need Business Data Encryption?

The purpose business data encryption is to protect it from theft. Whether your organisation collects and stores sensitive information or not, you should still consider securing your data appropriately. There are several scenarios that apply to most modern day businesses where opting in for business data encryption would be prudent:

You could be excused to think you are safe if you have strong and unique passwords and PIN numbers but consider what might happen if you lose an unencrypted device. Although a password may be required to unlock it, an unencrypted hard drive (or other storage device) may be taken out and placed in another machine in order to read the information it stores. Investing in business data encryption makes your info much more secure because it would have to be first decrypted to be accessed.

What is the Average Cost of a Security Breach to a Small Australian Business?

Data breaches are becoming more frequent, bigger, and expensive every year. According to Australian Government’s Department of Infrastructure, Transport, Regional Development and Communications’ infographic, 33% of businesses experienced a cybercrime and 60% of all targeted attacks were aimed specifically at small and medium sized businesses. The average cost of a cyber crime attack on an Australian business is reportedly in excess of a quarter of a million dollars. This makes both general cyber security awareness, as well as business data encryption, measures a key aspect of operating a business in the digitally connected world of 2021 and beyond.

 

Call us on 07 3062 6932 and ask us about our range of managed IT services and small business IT support or request a FREE IT Health Check now to learn more about how we can help to prepare your business for the threats of an increasingly digital world.


More blog posts

How to create secure passwords

How to create secure passwords

Weak passwords are one of the biggest security risks to your business.
Why?
Because cyber criminals are getting smarter than ever before. If they manage to crack just one password, they could gain access to your sensitive business data, financial information, or even gain control of your entire system.
Cyber criminals use automated tools to guess passwords, allowing them to try out millions of combinations in seconds. So, if you’re using something like “Password123” or “CompanyName2025”, you’re practically handing them the keys to your business.
A compromised password can lead to big issues, such as:
• Data breaches
• Financial losses
• Identity theft
• Reputation damage
But how do you create strong passwords without driving yourself (and your team) mad?
Think of your password like a secret recipe, where only you should know the ingredients. It should:
• Be at least 14 characters long (the longer, the better)
• Include a mix of uppercase and lowercase letters
• Contain a few numbers and symbols (like @, $, %, or &)
• Not contain any common words or easily guessable information (like birthdays, names, or the word “password”)
Instead of using a single word, you could try a passphrase – a short, random sentence that only you would understand. For example, instead of “Sailing2025”, try something like “Coffee&CloudsAreGreat9!”. This is much harder to crack, yet still easy to remember.
You should also steer clear of these common mistakes:
• Using personal info (your name, birthday, business name, etc.)
• Reusing the same passwords across multiple accounts
• Using simple sequences (“123456” or “abcdef”)
• Storing passwords in an easily accessible place (like a sticky note on your desk)
If remembering unique passwords for every account sounds impossible, there is another option: Password managers. These generate strong passwords, store them securely and autofill them for you.
With a password manager, you only need to remember one strong master password for the manager app itself. The rest are encrypted and stored safely, reducing the risk of data breaches.
Even the strongest password isn’t foolproof, which is why multi-factor authentication (MFA) is also important. MFA requires a second form of verification, like a one-time code sent to your phone or generated from an authentication app.
If you have employees accessing your business systems, it’s a good idea to have a password policy in place to explain your rules and why they’re important. This should include:
• Unique passwords for each system and account
• Regular security training on password best practices
• Business-wide use of MFA for critical systems
• Scanning for compromised passwords regularly
By making password security a priority, you can reduce the chances of a cyber attack creating a nightmare for your business.
And if you need help making your business more secure, get in touch.

Beware these common ‘malvertising’ attacks

Beware these common ‘malvertising’ attacks

Ever clicked an online ad and wondered afterwards if it was a scam?… most of us have – and cyber criminals want us to keep doing it. Here’s what to look out for to stop your business’s data (and profits) falling into the wrong hands…

Call Now Button