Essential Data Leak Prevention Techniques

Firms are increasingly relying on digital platforms for their operations. But with this comes the risk of data breaches. The aftermath of such breaches is not only financial; they can also deeply tarnish a firm’s reputation and trustworthiness.

As per Statista’s article, Most concerning consequences of cyber incidents –

This makes it important for firms to follow robust data leak prevention techniques.

Statista’s article, Number of user accounts exposed worldwide states-

This article discusses important strategies and measures that firms can follow to protect their data.

Data Classification

• Identify Data Types

The first step to data classification is understanding the various types of data a firm handles. Think of a firm as a vast library that houses various types of books. Some books are rare and valuable, requiring careful handling.

Similarly, a firm’s data also varies in importance and sensitivity. Some data might be very sensitive, such as personal information of employees, customer data, proprietary business information, and financial records. Data like publicly shareable content might be less sensitive.

• Assess Sensitivity and Value:

After data is identified, the next step is to assess their sensitivity and value. Sensitivity means how much potential damage could occur if the data were disclosed, altered, or destroyed. Value refers to how important the data is to the firm’s operations, strategy, and competitiveness. High-value data that is also highly sensitive requires more rigid security measures.

• Establish Categories:

Understanding the sensitivity and value of data helps firms to establish various categories. These include Public, Internal Use Only, Confidential, and Highly Confidential.

• Apply Security Measures:

Different classes of data require different levels of security. This classification ensures that a firm’s efforts and resources protect the most important data efficiently and effectively.

Also read: Why Should Companies Use Encryption?

The Policy of Least Privilege (POLP)

If someone doesn’t have access to the data, it’s hard for them to leak it. Firms can reduce the amount of data that users have access to by using a rigorous policy like POLP. It only grants access to what is necessary for them to perform their jobs. This policy will help lessen the chance of data leaks by people who want to do business harm.

Encryption

Encryption is a security method used to protect sensitive data. It converts into a coded format, whether stored (at rest) or sent from one location to another (in transit). This process ensures that even if the data is somehow intercepted or accessed without permission, it would be difficult or nearly impossible to understand or use. It would appear as scrambled or unreadable text. This protects the confidentiality and integrity of the data from unauthorized access or theft.

Employee Training

Firms should train their employees on the best practices for data security and the importance of protecting sensitive information. The training should cover how to identify phishing attempts and other strategies often used by cyber attackers. This is important because educated employees can act as the first line of defense against potential security breaches.

Vendor Risk Management

Firms must assess and take proper precautions against the risks associated with third-party vendors who can access the firm’s data.

They must also ensure these external partners follow rigorous security protocols. This is important to prevent any potential data breaches that might occur through the supply chain. It can happen if a vendor has inadequate security measures in place.

By strictly vetting and monitoring the security practices of these vendors, a firm can greatly reduce its risk. This approach helps to avoid data leak and other security issues.

Remote Work Security

Employees who work from locations outside the office must maintain high levels of security.

It is important for employees to use secure methods, like Virtual Private Networks (VPNs), to access the company’s data. This ensures that information remains safe. It also reduces the risk of cyber-attacks. Moreover, the devices employees use to connect to the firm’s data must be thoroughly protected against any online threats. This helps to protect sensitive information from being compromised.

Incident Response Plan

Maintaining a comprehensive incident response plan is important for any firm. It lays out the strategies and steps to be taken when dealing with data breaches. The main aim is to prepare the firm to react swiftly and efficiently to incidents and minimize their potential harmful effects.

This involves identifying the breach, containing it, eradicating the cause, recovering any compromised systems, and communicating the issue as necessary. A well-prepared incident response plan greatly reduces the damage from breaches. It also ensures a quicker return to normal operations.

Data Loss Prevention (DLP) Tools

These tools are specialized software solutions used in a firm to monitor and manage data transfer across its network. The primary aim of these tools is to prevent the unauthorized access and sharing of sensitive or private information. They achieve this by overseeing data in motion, at rest, and in use throughout the network. This ensures that information doesn’t end up in the wrong hands or leave the firm without proper permission.

These programs help firms protect their data against leaks, theft, or accidental sharing. This improves data security and ensures the firm follows the rules for protecting information.

Regular Audits and Monitoring

Regular security audits help evaluate how well a company’s information system follows a set of established criteria. They also identify potential threats attackers could use to gain unauthorized access or steal data.

Continuous monitoring involves closely monitoring the network and system activities to quickly detect any unusual behavior. This proactive approach is important for early detection of possible data leaks, which could indicate a security breach. By identifying these issues early, a firm can take quick action to investigate and fix the problem. This reduces the risk of substantial damage or loss of sensitive information.

Conclusion

Following the outlined data leak prevention strategies can help firms defend against unauthorized access to sensitive information. These strategies protect valuable data, protect financial information, and ensure compliance with privacy laws and regulations.

The journey to achieving data security is ongoing and requires constant vigilance, adaptation, and commitment from the entire firm.