Today, data is akin to a treasury of precious gems within an organization, and like any valuable item, it’s vulnerable to theft and exploitation. A failure to shield this data comes with steep costs.
IBM’s recent findings indicate a jarring increase in the financial repercussions of data breaches, now averaging a global cost of $4.45 million — that’s a 15% rise in three years. The ramifications, however, aren’t purely fiscal. They extend to tarnishing the image of brands, eroding consumer confidence, and jeopardizing the privacy and safety of individuals like research participants or clients. This means that securing corporate networks is as important to maintaining the trust of customers and partners as it is to maintaining security. Measures should be taken to ensure customer secure connection and operation of your organization.
How to Protect Corporate Wi-Fi Networks?
The Harvard Business Review has pointed out the potential consequences for corporations suffering a data incident: downgrades in credit ratings coupled with a decline in stock valuation. One year after a substantial breach, such companies typically lag behind the NASDAQ performance by 8.6%, with the possibility of a differential widening to nearly 12% over two years. Nonprofits and NGOs aren’t immune either; consider the breach at the International Committee of the Red Cross in 2022, which compromised the medical details of over half a million at-risk individuals.
On the flip side, placing a premium on data security can translate into not only safeguarding individuals but also bolstering a company’s profits. IBM research has brought to light that organizations with developed and robust security measures report a 43% surge in revenue growth over five years in comparison to organizations with weaker security infrastructures.
#1 Change SSID
What does SSID mean for Wi-Fi? If you need a complete picture of what the SSID is – please refer to the separate article from VeePN. In short, SSID stands for Wi-Fi network identifier. SSID example: Office, TP-Link_2748, Guest_Network. If you use names like these, you are putting these networks at risk. By name, hackers can find the most important networks and guess the password for them. Standard names also provide information about the router model, and then it’s up to the technician to exploit some software vulnerabilities and hack it. It’s better to use less obvious network names or hide important networks altogether so they don’t show up in searches.
#2 Encrypt Sensitive Data
Safeguarding client data is a critical tactic in our arsenal of security measures. We implement rigorous practices, ensuring all sensitive information is encrypted—both when it’s stored and as it moves across networks. Should this data be compromised, it’s coded to stay beyond the reach of those without proper access. AES, an esteemed encryption benchmark, is our standard of choice.
#3 Access Controls and User Authentication
To protect sensitive information, it’s crucial to establish solid access protocols and confirm the identities of users. This includes the adoption of intricate passwords, the application of authentication that requires multiple factors, and the regulation of user access levels. Here are some key strategies:
- Foster the practice of creating complex passwords and cultivate awareness around the critical nature of maintaining secure passwords.
- Add another layer of security by requiring not just passwords but also an object in the user’s possession, such as a smartphone, to verify their identity.
- Perform consistent evaluations of the permissions granted to users to make sure they are in line with the individual’s specific job duties and responsibilities.
In fact, company reviews are a valuable source of information about the relationship between a business and its customers. To develop a positive attitude, you must first find your weak points. To do this, many companies use customer feedback analytics. There are specialized customer feedback analytics tools that collect and process reviews. This way you can quickly understand where the business’s weaknesses are and work to improve them.
#4 Educate Employees
In network security, the human element often presents the most vulnerability. Educating staff on the fundamentals of security—such as identifying phishing schemes, creating robust passwords, and steering clear of dubious downloads—drastically mitigates data breach risks due to errors made by individuals.
#5 Regular Data Backups
Regular and meticulous backing up of critical data is an indispensable strategy to shield against potential data tragedies. By establishing a regime of frequent data duplication, companies empower themselves with the means for a swift rebound from data intrusion or technological malfunctions. Essential insights consist of:
- Embrace the automation of backup protocols, thereby cementing their dependability and uniformity.
- Entrust backups to fortified locations that stand apart from the main site, safeguarding them in the shadow of physical calamities.
- Undertake periodic drills of the data retrieval blueprint to confirm the functionality and effectiveness of these backups.
Conclusion
Protecting sensitive information is a continuous task, and demands a forward-thinking strategy. Diverse encryption methods coupled with stringent access guidelines, consistent backups, and comprehensive staff education form a formidable defense against potential breaches. Businesses need to place data security at the forefront of their operational policies, ever alert to the shifting nature of digital threats. Prevention unequivocally trumps the consequences of a security compromise. A security strategy is necessary if a business does not want to have all its previous efforts undermined if the network is compromised.