As a result in business growth there has been an increase in human and machine identities causing organizations to increase their awareness of keeping these identities secure. 84% of businesses reportedly have suffered an identity related breach, according to one publication. As cyber criminals advance their tactics, more threats are likely to arise.
Identity related security breaches can be extremely damaging to not only the business but also on an individual basis. They can result in the theft of employee or customer data, which can be used for identity theft or other malicious purposes. They can also damage a company’s reputation and cause financial losses.
Phishing attacks were the most common method of an identity related breach according to 66% of surveyed respondents. In order to protect your business from these types of breaches, it’s critical to implement strong security measures and train your employees on how to identify and avoid security breaches.
What is an Identity Related Breach?
An identity related breach is a security incident in which sensitive information such as usernames, passwords, or credit card numbers are compromised. These breaches can cause a lot of disruption and require a significant amount of cleanup, as the stolen data can be used for malicious purposes such as identity theft and fraud.
On an individual level, stolen sensitive information like credit card info, personal contact information, or Social Security numbers are all types of identity related breaches. Within an organization, usernames and passwords that give access to a company’s data and private information and become stolen are examples of data breaches at that level.
How to Prevent an Identity Related Breach in Your Organization
Preventing a security breach of any kind should be a top priority for all individuals and organizations. There are a few key steps you can take to prevent identity related breaches in your business:
- Employee Security Awareness Education – Experts can trace 90% of data breaches back to human error and regular training can educate your employees about different types of cyber risks. Training can help your team learn how to identify and respond to potential threats that could cripple your business.
- Password Protection – Implement strong security measures. Multi-factor authentication (MFA) and a password manager are great resources to protect your login information. This will make it more difficult for hackers to gain access to your data.
- Secure Email – Use a reputable and secure email service provider. Your data will be protected from being hacked in transit.
- Keep Your Software Up-to-Date – Regularly update your operating system and applications to patch any security vulnerabilities. These updates are crucial to keeping cyber criminals at bay.
- Data Back Up – Back up your data regularly. This will ensure that you have a copy of your data in case it is lost or stolen. It will save you time and energy in the event that your data becomes compromised for any reason.
- Cybersecurity Insurance – Cybersecurity insurance is one of the fastest growing segments of the Insurance industry because of the prevalence of cyber attacks. Insurance can help you recover losses and damages related to a breach so that you can get your organization back on its feet quickly. Cyber Insurance companies also have required actions, some of which are mentioned above, to keep your insurance valid.
Partner with ANC Group for Cybersecurity Solutions
Unfortunately, many security breaches go unreported or undetected until it’s too late. In order to protect your business – and your customers’ data – from identity related breaches, you need to take the necessary precautions. Implement strong security measures, educate your employees, and keep your software up-to-date.
If you’re looking to protect your business from identity related breaches, ANC Group is the solution for you. We offer a variety of cybersecurity services to fit your company’s needs. Contact us today to schedule an assessment.