Data security – data loss risk reduction

In today’s digital landscape, protecting your data from theft or inadvertent exposure is paramount. At AHACCOUNTANTS, we are committed to helping businesses in the Nottingham area enhance their data security. This guide outlines critical issues to consider when reviewing the security of your computer systems and strategies to minimize the risk of data loss.

Understanding the Data Loss Landscape

Organizations increasingly rely on data stored across various platforms, including network servers, PCs, laptops, mobile devices, and the cloud. Unfortunately, high-profile incidents of data breaches—resulting in the exposure of personal and confidential information—underscore the importance of robust data security measures.

According to a survey by the Department for Culture, Media and Sport (DCMS) in 2021, approximately 39% of UK businesses experienced a security breach or cyber attack. Any organization, regardless of size, can be vulnerable without appropriate precautions.

Key Issues to Address

1. Audit Data Storage and Usage

• Identify Sensitive Data: Evaluate the types of sensitive and confidential data stored by your business, including:
  • Staff Records: Date of birth, medical information, salary, and bank details.
  • Customer and Supplier Data: Bank/credit card information, PINs, passwords, transaction details, contracts, discounts, and pricing.
  • Business Information: Financial records, performance data, and strategic plans.
• Ad Hoc Reports: Recognize that confidential data often circulates in unprotected formats, like spreadsheets. Ensure that access controls are applied consistently to prevent unauthorized access.

2. Conduct Risk Analysis and Implement Mitigation Strategies

• Identify Potential Impact: Assess who could be harmed if data is lost or compromised and the potential consequences.
• Mitigation Steps:
  • Regular Backups: Perform regular backups and store backup data securely off-site.
  • Cloud Security: Understand the security mechanisms in place for high-risk data stored in the cloud and how to retrieve it if necessary.
  • Data Minimization: Review data on all devices, especially those used off-site, and minimize or anonymize sensitive information where possible.
  • BYOD Policy: Implement a Bring Your Own Device (BYOD) policy with appropriate security controls.
  • Online Payment Security: Ensure your website complies with the latest security standards, such as SSL encryption and, if necessary, the Payment Card Industry Data Security Standard (PCI DSS).
  • USB and Media Restrictions: Limit access to USB and other writable media to authorized users, implementing security settings and data encryption.
  • Vulnerability Testing: Regularly test company websites and networks for vulnerabilities; consider hiring penetration testing firms.
  • Sensitive Data Disposal: Establish procedures for securely disposing of sensitive information, including printouts.
  • Device Data Management: Create processes for deleting or restricting access to personal or corporate data on mobile devices.
  • Staff Training: Educate employees about their responsibilities, data security protocols, and how to recognize potential threats like phishing and malware.

3. Develop a Security Breach Response Plan

Having procedures in place to address potential security breaches is essential. Focus on these four areas:

• Recovery Plan: Create and regularly update a plan to mitigate damage in the event of a breach.
• Review Process: Assess the impact of the breach on affected individuals and determine the likelihood of recurrence.
• Notification Procedures: Inform affected individuals and relevant parties (such as the Information Commissioner’s Office, police, banks, and media) when personal data is compromised.
• Post-Breach Measures: Implement corrective actions to prevent future incidents, update procedures, and conduct additional training for staff.