You’ve probably heard of data theft prevention before, dismissing it as something for IT professionals or big corporations to worry about.
But because our businesses and day-to-day work are ubiquitous with the internet and digital forms of communication, data theft prevention is something everyone needs to be concerned with, no matter the scale of your operations.
Here we’ll cover what data theft is, why you need to care, and 10 effective data theft prevention tips you can implement today.
What is Data Theft?
Data theft refers to illegally stealing or storing personal or corporate digital information. Digital data can be any number of things, including:
- Passwords
- Contact information like phone numbers
- Algorithms
- Medical records
- Software code
- Financial information like credit card information
- Personal information such as social security numbers
- Proprietary technology
This, and other private information, can be stolen from corporate databases, computers, servers, or any other electronic device that contains sensitive information.
The purpose of data theft is usually to sell the information or use it for ID theft—i.e., impersonating someone else online. With stolen data, bad actors can financially ruin companies or individuals by accessing bank accounts or credit cards.
There are many other consequences of data theft, too:
- Legal ramifications: If an organization is found to have mishandled data that led to theft, there can be legal consequences.
- Bad reputation: Companies that have had a data breach may receive bad press and cause prospective customers and employees to distrust how they store and handle data.
- Loss of sales: As you’re dealing with a data theft incident, you can’t make sales or run your business as usual.
Data theft is a malicious activity that can result in the loss of proprietary company information or money. Individuals whose personal information is stolen cannot be sure that their private records are kept confidential, which may impact them later in life.
How Does Data Theft Happen?
There are many ways theft occurs. Here are some of the most common:
- Phishing: A data thief poses as a trusted entity to dupe the victim—emails, texts, or messages seem real, but are actually scams to get your data.
- Weak passwords: Easy-to-guess passwords make it easy for attackers to access your accounts.
- System vulnerabilities: Weak software programs keep your system open to hackers.
- Insider threats: Internal employees may share data if they’re disgruntled or angry.
- Human error: Sometimes people accidentally share information they’re not supposed to or make an error that leads to a breach.
- Viruses or malware: This software is designed to attack your system and extract data.
- Physical theft: Card-skimming or stealing laptops, phones, and other devices are physical ways to access information.
Data theft can happen in so many different ways that business owners and leaders need to be aware of them. It’s only by first knowing how it happens that you can determine what kind of data theft prevention to implement.
10 Data Theft Prevention Tips
Given these common ways data theft occurs, here are 10 effective data theft prevention tips to implement in your workplace today.
1. Use Strong Passwords
One of the easiest data theft prevention strategies you can implement today is to strengthen all passwords. Avoid using something obvious like “1234” or related to any of your personal information someone can easily guess (i.e., birthday, name).
Instead, create complex passwords that are hard to guess. A good rule of thumb is to make it at least 12 characters with upper and lower case letters, symbols, and numbers.
You can also use an app like 1password to securely manage your and your teams’ passwords.
2. Secure Sensitive Information
This might seem obvious, but you need to intentionally secure sensitive information. This means ensuring someone needs permission to access that information, either by entering a password or receiving user permissions for the system.
You can also encrypt all sensitive information so it’s illegible to those who don’t have the authorization to access it.
3. Monitor User Activity
Regularly check in on user activity across your accounts and platforms to see if there’s anything out of the ordinary. This might include checking bank statements, contact lists, or who logged in to specific computers and programs. Knowing what’s normal and what isn’t can help you prevent data theft by catching things early.
4. Implement Multi-Factor Authentication
While having a strong password is essential to prevent data theft, you can also take it a step further by introducing multi-factor authentication (MFA). This is when something requires at least two forms of identification in order to access something.
For example, you may need to enter a password and then receive an SMS text message to your phone with a code. There are also apps like Google Authenticator that generate a secure code on your phone for MFA.
5. Be Careful on Social Media
The more you share online, the easier it is for hackers and data thieves to access your information. Try to limit personal information such as your address or date of birth. This is also relevant to companies—implement corporate policies around what’s allowed to be shared and what isn’t so that you can keep the information confidential.
6. Close Unused Accounts
If you’re no longer using an account—close it. Any open software program or system is a potential weak spot to access your information. So, as soon as something isn’t necessary, log out, cancel, or delete the app altogether.
7. Be Careful When Using Public Networks
Free Wi-Fi is great when you’re on the road or out of the office, but you need to be wary of it. Public hotspots are easy targets for cybercriminals because they’re easy to hack.
While on a public network, avoid opening or sending sensitive data like performing banking transactions. You should also turn off Bluetooth and file sharing so others don’t connect to your device. The last step you can take to be extra safe is to use a VPN, firewall, and antivirus protection.
8. Keep Your System Updated
Your computer operating system and other applications need to be updated from time to time. There are built-in protective measures that you want to stay on top of. So, whenever your system prompts you to update, do it right away.
9. Stay Informed
Though a less direct approach to data theft prevention, it’s important to stay informed about what’s happening in the news. If a company you’ve interacted with suffers from data theft, your company or information may also be compromised.
It’s also a good idea to stay informed on trends happening in the data theft prevention industry, so you know how to adapt to new and evolving technologies.
10. Supervise Your Employees
This doesn’t mean watching over their shoulders at all times, but a leader or manager needs to be aware of what their team is up to. Know what your employees’ daily routines are like so you know if there’s something out of the ordinary.
You can also prioritize open and honest conversations during employee check-in meetings about technology use and data theft prevention expectations in the company.
Data theft is a serious matter that can impact companies and individuals alike. To keep your confidential information safe, try implementing these ten data theft prevention tips today.
And if you’re looking for a workplace that prioritizes privacy concerns alongside community and productivity, contact us to book a tour at your local Launch today!
