Data Privacy and Why It’s the Responsible Thing for Companies to Do

by | Aug 16, 2022 | All, Featured | 0 comments

It’s all about data building and empowered database in today’s modern world. A lot of companies today rely on the power of data to keep their businesses operating smoothly and efficiently. However, with advancements in technology and data storage also come the downside: cybersecurity threats.

Most companies have a comprehensive storage of personal information from both clients and employees such as names, social security numbers, credit card information, tax identification numbers, and other info crucial in personal identities. This kind of sensitive information is prone to malicious cyberattacks. If data falls into the wrong hands, these could open your clients or employees to fraud, identity theft, privacy breach, and a host of other similar harms.

This is why our company is a huge advocate of data privacy. The ultimate responsibility of your business is to safeguard sensitive information that passes through your doors, otherwise you risk losing customers and employees which is definitely bad for your business.

First, take inventory and know what kind of information exists in your database. Take inventory of all computers, laptops, mobile devices, flash drives, home computers, digital copiers and other equipment to find out where and how your company is storing all available digital data. Of course, start with your file cabinets and proceed from there. You should even book a computer and phone forensics team to help you stocktake your data. The key is to make sure that information even from websites, contractors, outsourced or third party services, and hard drives are included in the inventory. It’s absolutely essential to check where sensitive data might be stored.

Second, have a background check done on employees. There are other advantages to having personal background checks on employees, but the best among them is that you can ensure that your people will not be misusing personal information that could potentially harm your business. As a business owner, you have to steer clear of con artists and criminals, people who could see your business as their bandwagon to quick money. More importantly, you have to protect your clients and employees by eliminating the threat of identity theft within your company doors.

Third, outsource for a background check on third party contractors. You may have it stipulated in the contract or agreement to have background checks done on both sides to ensure that there are no malicious personalities who could potentially sell data or information from the company. A background check is an extra effort for your conduct of business but it ultimately protects you from fraud and theft.

Fourth, consider scaling down on your database. This means that your company should only retain any information that it actually needs. If the data is taking up space on your storage and you don’t even need it for future transactions, why keep it? Don’t collect information and get rid of the “just to have it for safety purposes” mentality because it is not safe. Only store as much as you need so that you won’t open yourself up to potential cybersecurity threats.

Fifth, invest in physical and virtual security. It’s never too old fashioned to go old school. Often, the best defense against security threats to your company is a locked door. Have sophisticated locking mechanisms on the doors of your server rooms. For virtual security, have constantly changing authentication mechanisms to your sensitive networks, especially for specific folders and data files. You can even require different level passwords for different sort of information. Higher level clearance for more confidential information and so on.

It’s always helpful to plan ahead in terms of strategizing how best to protect your company’s information database. Talk to the experts at Global Intelligence Consultants, Inc. on research services, digital forensics, and private investigation so we can give you the best options on how to upscale your company’s data privacy. It’s never too early to start and it’s never too late to protect your business.