We live in a data-centric world where any business or person can be neatly summed up through their data. From basic identity to finance and even health information, data has become a key transaction element in our lives. But, with the growing dependency on data, it has become a target for malicious activities such as data theft.
What is data theft?
Data theft is where sensitive data has been exposed (a breach) for unauthorized access. Once data is exposed the assumption always has to be that a criminal has the data; hence, a “theft”.
A data theft can either be carried out by an individual or a group of cybercriminals to leverage your critical information by selling it or to demand a ransom. Whether it is personal, health-related, financial, or trade secret data, the results of a data breach can be devastating for a person or a business. The cybercriminal can use the data to impersonate you or for other malicious purposes, but a common scenario now is to demand a ransom.
Security is part of RadiusBridge Data Management services and prevention is the best approach.
Preventing a Data Theft or Breach
A Data Breach is often unexpected. Prevention Examples:
● Provide security training
● Require strong passwords
● Use security software
● Add authorization levels to restrict access
● Use encryption and multi-factor authentication
● Develop and maintain a breach recovery plan
A data theft means that your data is already in the hands of a criminal. Therefore, the best practice to follow is prevention plus correct cyber insurance and a complete backup strategy in the event your prevention fails. For a properly prepared person or organization, most now choose not to pay a ransom since there is no guarantee the cybercriminal will not ask for more money. They are not ethical people or they wouldn’t be stealing from you.