The Importance of Data Protection for Small Businesses

Сompany executives are legally responsible for protecting the personal information of their customers and employees. Data leaks and related reputational damage to small and medium-sized businesses are forcing management to take action to apply for data protection. Here is more about data protection for small businesses.

System approach to data protection

In 2020, the damage from cyber threats amounted to more than a trillion dollars or 820 billion euros. This is evidenced by data from the American company McAfee, which specializes in computer security, and the Center for Strategic and International Studies (CSIS). When a business becomes dependent on business processes, then evil hackers come and, disrupting these processes, can demand money, steal digital assets that can be monetized. The number of attacks is growing due to the digitalization of business. There are 17% of companies in the world that can resist mass attacks, which are created even by not very skilled hackers.

The cybersecurity industry is evolving rapidly along with the technologies and changes that are affecting human social life around the world. In the corporate sector, network security is regulated and controlled. Businesses comply with legal requirements to comply with licenses. Every company has its agreed-upon procedures to ensure its security and reliability. One of the most important aspects of a successful cybersecurity department in any company is systematic data handling.

All this is spelled out in the relevant instructions, regulations, and normative documents, including corporate ones. Processes are monitored at several levels. Based on the assessment of possible risks and threats in cyberspace, appropriate compensatory measures are developed. This is primarily a password policy that is explained to employees, as well as a series of actions that are governed by corporate rules and procedures. Today companies use multi-level protection information systems for business resources. This eliminates cyber threats and ensures that incidents do not occur.

The concept of cybersecurity

Cybersecurity should be done by technical specialists in the field of information security. The advice of a lawyer can only help to properly organize the process and understand the array of regulations on cybersecurity and cybersecurity, the very existence of which is a surprise to many. Cybersecurity consists of three basic principles:

  • technology
  • processes
  • people.

Everyone buys technology, they know that there are antiviruses, protection systems, but the owners forget about other aspects without which there will be no security. The second is to build processes that will indicate what needs to be done next. The company has non-technical and technical specialists who, if they do not undergo advanced training, can make mistakes in setting up security equipment or software and also open the door to cybercriminals. The introduction of technology does not solve all problems, without processes it is impossible to build protection, and people need to be taught.

How to provide data protection for small businesses?

One of the latest trends in technology is the development of artificial intelligence, machine education, and blockchain technology. Blockchain is essentially a distributed ledger technology. A blockchain is a distributed database that is used in both private and public programs, rather than a centralized structure where all information is stored in several very large databases.

Another area of ​​development of cybersecurity measures is the development and use of artificial intelligence, including machine education. These technologies can potentially monitor the network around the clock, detect any intrusions and eliminate the consequences of such intrusions.

Virtual data room is a digital platform based on blockchain technology that ensures a secure collaborative environment and data repository for managing business deals.