In recent years, the risk of data loss has become more serious, which requires the industry to develop new data security standards.
Many companies and organizations are now constantly threatened by cybers. Data may be lost in the hacker attack, or may be caused by other intentional or unintentional reasons. For example, you cannot rule out the physical data theft, human error, computer virus, hardware failure, power failure, and natural disasters. One way to deal with important information is a perfect backup system, which provides the opportunity to restore data, and can also provide a variety of data security platforms and procedures, which are specifically used to protect the entire network system of the company.
Common cause and influence of data loss
Data loss may cost high for companies. If the company is negligent in deploying network security, given that various forms of online attacks are upgrading, a lot of data will be lost due to data leaks or data theft will always be a threat.
The most common reason for data loss is that human error. Business and agencies will perform data operation in daily business operations. There may be some errors when you work, including accidentally deleting data files, leakage and deliberate data.
Employees should know that regular data backup is critical. Plan regularly preserved work and system backup data should become part of the corporate workflow. However, companies should prepare for the worst case, such as catastrophic network failures, which can lead to complete data collected by enterprises.
Data loss will lead to many adverse consequences, for example:
Business interruption. Data is the pillar of corporate business, which affects business operations when data is lost. Therefore, companies have to transfer operational resources and time to solve data loss problems, and focus on data recovery before data loss events bring more challenges. Reputation is damaged. Understanding data leaks usually leads to the reputation of the company. Customers are usually considered to be negligent, and in terms of security, severe cases will cause business to close. Financial impact. Any data leak will have a financial impact. Affected enterprises will not operate normally and profit from a period of time. At the same time, companies must use their financial resources for data recovery, and spend more funds to restore business reputation, payments due to non-compliance with data protection guidelines and laws, and other incidents involving public and legal issues.
Factors of data loss and influence of their cost
With the increase in the network security plan, network security is still very important. Network criminals continue to develop technologies that block and destroy network security protocols. Their network attacks are more diverse and consume more resources, so preventing and responding to network threats to become the top priority attention.
An article in a security intelligence pointed out that the loss caused by each data leak event in 2021 was $ 4.24 million, creating a new record. In the past year, the average loss reached 4.96 million US dollars due to remote operations caused by remote work.
Arranging employees’ remote working companies have an average of $ 107 million in data leaks. Remote work also increases the number of days of business identification and control data to 58 days. Remote work has also brought greater data security risks.
The longer the time you need to curb the cyber attack, the higher the cost, and the time is up to 200 days. However, the impact of data leaks today has increased this time to 287 days, which increases the average loss to $ 4.87 million. Its time includes determining the 212 days of data leak behavior and 75 days of controlling data leakage behavior.
In numerous network attack targets, the health care industry is always an industry that attacks the network attack. In 2020, a medical institution that suffered Less Washer’s attack was paid an average of $ 7.13 million american ransom. In 2021, averaged $ 9.23 million. In the 44% of the data leaks in the 44% health care industry, the loss of the customer’s personal identity information is the most expensive. In 2021, the average loss of personal identity information of customers was $ 180.
Therefore, it is not difficult to speculate that enterprises and organizations have suffered huge economic losses due to hackers, and the hacker’s main motivation is to get more economic benefits.
British Easy Airlines announced on May 12, 2020, its 9 million customers’ debit cards and credit card records were hijacked by online hackers, estimated to cause economic losses of $ 50 million. Most customers have filed a lawsuit against the company, which may increase the company’s financial impact based on the results of the case, as each victim may receive compensation for $ 2500.
On February 18, 2021, the network attacker hit the data stored by the billing contractor of the California Motor Vehicle Authority (DMV), and the Lesssson Software attacked the except for California to log in to the registered driver in the past 20 months. information.
On April 3, 2021, more than 500,000 Facebook users were leaked, and the estimated loss was US $ 3.7 million. However, due to unknown reasons, Facebook does not notify users who are affected.
Prevent data loss common strategies and how companies should adopt these strategies
Data loss may be a catastrophic event for any size, and cost is high, which is the reason for preventing data loss. Enterprises can use various programs to enhance their network security and prevent data loss. In addition, they can use a variety of strategies to manage data leakage. Data backup and encryption. In various strategies, regular data backup is one of the key strategies that enterprises should implement. Make sure there are multiple copies when backing up data. You can save a copy and store them in an external hard drive, remote server, or cloud. Only authorized people can know the location of the company’s storage backup file. Encryption sensitive data to prevent accidental exposure. Software update. Many software contains a vulnerability. Enterprises can prevent data disclosure from applications that are vulnerable to network attacks. risk assessment. Regular vulnerability assessment is critical. Enterprises must constantly review and solve new risks and changes in protection data. Consider all aspects, including remote access and data storage of employees. In addition, corporate data protection procedures and policies must be fully integrated. Data loss protection (DLP). If the company adopts a more comprehensive approach, you can use data loss protection (DLP), which is a set of processes and tools for preventing data loss, unauthorized access, and abuse. The program defines a data priority category from low risk to sensitive to a critical. This approach can operate in accordance with the company’s safety guidelines and regulations.