Keeping your data safe is always a concern for individuals, businesses, and organizations. Fraudsters are becoming resilient and always looking for loopholes to access sensitive files. According to tech experts, over 2,000 publicly disclosed data breaches occurred in 2022. Most of these data breaches occur as a result of hacking.
Furthermore, when fraudsters lay their hands on sensitive data, they use it to blackmail you and even demand a ransom to release them. Read and learn how to protect your sensitive data against hackers or fraudsters.
Since the eruption of technology, encryption has become a crucial component of keeping confidential data safe. Encryption has to do with converting sensitive information into coded forms. The coded information can’t be read by anyone who doesn’t have the right decryption key. Therefore, only an authorized person with the decryption key can read the coded information. Fintech companies mainly use encryption during the transmission of data to a third party. Also, the encryption algorithms scramble the data and make it more difficult to read if you don’t have the decryption code.
Backup and recovery
Another effective way to save sensitive data is to back up. Regular backup of data is crucial and a good way to protect data protection. Furthermore, backing up data ensures it is preserved even when your system is attacked. Backing up data is not enough; you must ensure they are kept in a secure place. Also, if you back up data and can’t recover it when you need it, then you are not doing it correctly. You can create backups on your original device and an external device. Meanwhile, saving your data on the cloud is also important if you want to keep it safe. Opt for premium cloud storage services because they offer more perks, like more storage space.
When you limit the number of people that have access to your sensitive files, it will reduce its leakage. Only give access to individuals who understand that the files are sensitive and confidential. Furthermore, using the access control method establishes accountability. Also, access control reduces the risk of insider threats and enhances efficiency.
Using physical security involves using physical devices and facilities to protect your sensitive information. For instance, you can restrict the movement to rooms or offices where you have computers that contain sensitive materials. With the right physical security measures, it saves you the cost of backing up files and employing the services of tech pros. The only con of physical security is the human factor.
Sensitive files in the hands of an unauthorized person can ruin your business. Opt for free cloud storage systems if you can’t afford their premium services. However, to save more files you may need to use a free PDF to excel converter online to make the data smaller. Free cloud storage systems offer very small memory space. Finally, use encryption if you are in the fintech industry.