Data Wiping: How do SMEs protect their data?

The 2018 Varonis Data Risk Report study recently revealed that the average cost for a company to repair the damage of a single malware attack is estimated at $ 2.4 million. It is much better to avoid risks in time and invest in technological measures to secure data. Many companies do. Total business spending on data security has risen from $ 102 billion to $ 124 billion in the past two years.

Why SMEs should play it safe

“It is no longer a question of whether the company is going to be attacked, but when it is going to be attacked. It doesn't matter how big they are,”explains Florian Goldenstein, Director of IT Security at Konica Minolta Business Solutions Germany GmbH. “Large companies are getting better prepared for cyber attacks. That is why the attention of cybercriminals is increasingly directed to small and medium-sized companies, SMEs”, says the security expert.

 

But if you look closer, companies are easy prey. According to the aforementioned study, around three-quarters of companies admit to using more than 1,000 sensitive and outdated files, which represents a great security risk. 41% of companies acknowledge having sensitive databases, such as those containing credit card or medical data, which are completely unprotected.

The growth forecast for 2025 is huge

Statista's forecasts on the annual generation of data generated show the importance of the issue of security and that it will increase in the future. The amount of data generated is estimated to grow from 33 zettabytes in 2018 to 175 zettabytes in 2025. For clarification: One zettabyte is equivalent to 1,000 exabytes. In figures, it would be a one followed by 21 zeros.

 

The IDC and Seagate Data Age 2025 study also assumes a huge data surge by 2025. While most of the data so far has come from end customers around the world, the study anticipates that creation will move into the future Business. In 2025, experts estimate that companies will generate about 60% of the world's total data. The study states that with the Internet of Things (IoT) alone, an average consumer will interact with 4,800 devices daily. And all that data has to be protected.

Data growth requires protection and security

To safely manage data and its growth, it is necessary to have two very important concepts: Data protection and data security. The two terms are often used interchangeably, but their meaning is not exactly the same. Here are the two definitions:

• Definition of data protection:

Data protection is concerned with guaranteeing the right of each citizen to self-determine in terms of information and their protection against the misuse of their personal data. The question of what data can be collected and processed is part of data protection.

• Definition of data security

Data security deals with technical and organizational measures to protect corporate and administrative data. Determine and establish measures for the protection of this data. The term information security includes any type of stored data.

Data Wiping defines global goals

Whether it's personal data or development, production or customer data, data security needs to take into account several aspects to prevent data from becoming an attractive target for hackers or cyber attacks. Bearing this in mind, broad objectives must be defined to meet the needs in all these aspects.

 

The most important objectives of data security are:

 

·         Prevent the misuse of data, for example that it may be damaged, deleted or stolen.

·         Optimal protection against external attacks such as cyber attacks

 

·         Careful protection of internal accesses, regulating the access rights of employees. Confidentiality is important

 

·         Without conflicting with the above, all company data must be accessible and available at all times

 

·         Naturally, the authenticity of the data must also be guaranteed

 

·         Finally, the integrity of the data ensures that the data is not damaged or modified.

Professional concepts and measures are of paramount importance

It is necessary to consider strategic concepts and measures of data security, which include all these objectives from a global point of view. This is essential, because IT experts know from experience that "the more things you can do, the more things they can do to you." In other words: If that data is very useful to you, it can also be very useful to other people.

Today's IT structures are complex. Many businesses use workflows that cross borders and involve international use of data.

SMEs are adjusting little by little to this new situation, growing and working more and more efficiently. But new methods of work and production are also making them more vulnerable.

Measures for data security: Do you know these five levels?

The steps to take for a comprehensive approach include the following five points, which should always be considered when it comes to safety:

1.    Cybersecurity

Includes security measures such as a firewall ( firewall ). Firewalls are security systems that protect computer networks or individual computers against unwanted access. This level also includes data encryption technology.

2.    User security (end point )

Includes password, antivirus and antispam access protection.

3.    Authentication technology

It is important that company data is protected with secure access controls.

4.    Protection against data loss

There are many situations that can cause data loss: Cyber ​​attacks, blackouts, short circuits or fires. The causes of these losses can be further analyzed by analysis protocols and records ( logs ) and backup software ( backup ) assures us that there are safe copies of all data.

5.    Security and data exchange

Secure data exchange is essential for communication and collaboration with partners and customers.

A good concept of safety always considers the human factor

Security threats are not limited to malware and hackers. A comprehensive and professional concept of security also includes training for employees.

All employees of a company must understand, especially in times of rapid growth that data security is an essential factor in the success of the company, whether they work in purchasing, sales, customer service or development. It's important that everyone is familiar with the company's data security standards and what to do if a critical security incident occurs.

A transparent IT structure is very important

The basic prerequisite for well-functioning data security is a clear and transparent infrastructure.

The following areas are especially important for a well-planned IT infrastructure:

·         Company-owned servers and protected data centers

·         Cloud solutions

·         Safety / Failure Protection / System Failure Protection

·         Risk analysis / Analysis of protection needs, authorization management, user security, mobile device control

·         Network / Network Security

 

Data Security Measures Need Firefighters Too: Future-Safe Incident Response

 

SMEs can consider themselves well prepared if they are ready to act as quickly as possible in the event of an emergency or cyber attack. To do this, strategic incident response processes must be established. In the event of an attack, malware can be detected more quickly and the damage it causes can be limited.

 

After an attack, we will need competent IT experts to contain the damage. These experts use forensic methods and measures to detect the vulnerabilities that have put the company in this unfortunate situation. In addition, they analyze infected systems to discover the mechanism of the attack. Based on that analysis, they can develop a strategy to improve data protection in the future.

 

SMEs that carry out random inspections of data security measures and their systems from time to time have a better chance of staying secure. Thus, they protect your data in the long term and the security status of the company can be estimated at any time.