Data loss is one of the worst crises a business can experience. From customer records to intellectual property, information is the lifeblood that every company relies on, and much of it is irreplaceable. If those treasured records are stolen or erased, chaos can quickly ensue. A solid data loss prevention (DLP) strategy is critical, to prevent this from happening and protect business operations.
But what is data loss prevention – and how can you build an effective strategy?
Data Loss Prevention: Meaning and Benefits
Data loss prevention refers to a set of tools, policies, and best practices aimed at protecting information from theft, unauthorized access, and deletion. It should be considered an essential part of every company’s overall cybersecurity strategy.
Do I Really Need Data Loss Prevention?
Small and medium businesses (SMBs) often believe they are too small for data loss to be a real concern – but this is far from the truth. According to Forbes, roughly half of all businesses have experienced a ransomware attack, and a staggering 92% never get their data back despite paying the ransom. Adding other threats to the mix only makes the truth clearer – businesses across the globe are at serious risk of data loss.
A solid data loss prevention strategy is the only answer to this problem. It helps organizations manage risk and protect their data from attacks, significantly reducing their chances of experiencing a breach.
How to Develop a Strong Data Loss Prevention Strategy
To be effective, a data loss prevention strategy must be well-planned and thorough. Follow these key steps:
1. Identify and Classify Sensitive Data
Before doing anything else, businesses must understand what they are protecting. Conduct an audit to:
- Identify sensitive data, such as customer information, financial records, intellectual property, and employee details.
- Classify it based on its importance and regulatory requirements.
- Determine where data is stored (cloud, on-premise, or hybrid environments).
2. Establish a Data Loss Prevention Policy
A data loss prevention policy outlines rules and guidelines for handling sensitive information. Key components include:
- Access Controls: Define who can access, share, or modify critical data.
- Encryption Standards: Encrypt data at rest and in transit.
- Device Security Rules: Set policies for using personal devices, external storage, and remote access.
- Incident Response and Disaster Recovery Plan: Develop a clear protocol for responding to and recovering from security incidents.
3. Train Employees on Data Security
Employees are often the weakest link in data security. Regular training sessions help prevent accidental data leaks and reduce the effectiveness of social engineering attacks. Include the following topics:
- How to recognize a cyber-attack.
- Data handling procedures (how and when to share it with others, how to store it, etc).
- Password safety and MFA.
- How to report suspicious activity.
4. Monitor for Threats
Use security measures that include real-time monitoring and threat detection, so potential attacks can be stopped before they escalate to a full-scale data breach. SMBs should:
- Use automated alerts for unauthorized data transfers.
- Monitor high-risk behaviors, such as employees sending sensitive files via unsecured channels.
- Restrict access based on roles and responsibilities.
5. Implement in Phases
Roll out the new data loss prevention strategy in phases, instead of all at once. This makes it more manageable and ensures a comprehensive approach.
Useful Data Loss Prevention Tools
Selecting the right data loss prevention solutions is an important step, but it can be challenging with so many options available. Here are some to consider:
1. Microsoft Purview
- Integrated with Microsoft 365, to help SMBs protect sensitive data across platforms and throughout its life cycle.
- Has built-in tools for identifying sensitive data.
- Ideal for businesses using Microsoft solutions.
2. Symantec DLP
- Offers automated threat detection and response.
- Provides endpoint security, cloud data protection, and encryption.
- User-friendly and easy to configure.
3. Forcepoint DLP
- Prevents data exfiltration to external networks, minimizing the likelihood of a leak.
- Uses behavioural analytics to provide advanced threat detection.
- Analyzes the context of a situation, instead of blanket banning actions, to ensure greater accuracy and reduce frustration.
Do some of your employees work from home? Here are some special remote work security strategies
Supercharge Your Data Security and Prevent Breaches
No matter a business’ size, data protection must be a top priority. Without a strategy to prevent breaches and accidental leaks, sensitive information is left entirely vulnerable – potentially damaging your profits, reputation, and compliance. A solid data loss prevention policy will prevent these negative outcomes, helping you stay competitive and ensure success.
Don’t wait for a cyber-attack to strike. Now is the time to take action and secure your data. Com Pro’s team of security experts are ready to help you take that first step, elevating your security with advanced solutions that cover everything from networks to office equipment. Ask for a quote and protect your data today.