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3 Highly Effective Data Loss Prevention Strategies

With the advent of technological advancement, your data is everywhere on the internet: Sites you visit, social media platforms, online profiles, and the list goes on. In this data smog world, securing your data is like finding ‘x’ in Algebra. No wonder even big companies like IBM and Google have also undergone this scuffling.

Data loss is an extremely common business threat. A study conducted by the British Chambers of Commerce shows that 93% of businesses that suffer extended data loss close down after only 6 months. There are three main reasons for business data loss:

  • Insider Threat — Using their privileges improperly, a hostile insider or an attacker who has gained access to a privileged user account tries to export data outside the company.
  • Cyberattack Extrusion — sensitive data is often the target of cyberattacks. Attackers access sensitive data by breaching the security perimeter using strategies like phishing, malware, or malicious code injection.
  • Unintentional or careless data exposure — Many data breaches are caused by employees who leave private information lying around, give data open Internet access, or fail to impose access restrictions in accordance with corporate standards.

Unfortunately, the bulk of data and security breaches are caused by employees rather than hackers, which presents a challenge for all firms in terms of security and access rights. It is estimated that 75% of data loss is caused by human error.

It is possibly because employees are untrained or don’t fully know the extent of their actions. That’s why individuals who disregard recommended safety measures are the ones who most likely experience security breaches. They might access a website that contains malware, carelessly share their passwords, or join an unsecured Wi-Fi network.

Plus most firms are so busy defending or anticipating external threats that they do not put any priority on employee training, education, and teaching them the proper data handling techniques.

Firms also often do not execute data storage through access denial. They usually ignore the fact and give administrative rights and data access across the board, with no oversight.

Despite the seemingly insurmountable challenges, there are a few essential measures that companies may take to safeguard data, stop its exploitation, and address security flaws.

1. Data Loss Prevention Technology

Data Loss Prevention (DLP) technology is software that helps detect and prevent data breaches, unauthorized export of sensitive and intellectual data (exfiltration), or unwanted obliteration of sensitive or intellectual data. DLP technology also helps store and safe keep data while complying with data regulations.

The most common use of DLP technology in organizations is to protect intellectual property, increase data visibility in large, scalable environments, secure mobile workforce who use their own devices (such as in remote work), safeguard Personally Identifiable Information (PII), and protect company data stored on clouds.

The example I will use is Symantec Data Loss Prevention by Broadcom. It offers a single console dashboard where you can manage all your data loss prevention modules and control their access.

It applies a single data handling policy across the board, making granting administrative rights and data access permissions smooth and quick. Symantec also offers powerful data protection capabilities and integration with other programs such as Microsoft Information Protection.

The suite is easy to use, has a smooth, flexible UI, and offers access control, encryption, and data safety policies that can protect stored organizational data. It can also monitor and alert unauthorized and suspicious activities that an organization’s members may intentionally or unintentionally perform when interacting with data.

This makes Symantec a strong choice for an ideal DLP software for mitigating all sorts of data handling and storage risks.

2. Attack Surface Management Tools

Using attack surface management (ASM) tools such as a vulnerability scanner that automatically checks for system vulnerabilities removes a lot of the guesswork involved in securing your data’s organization.

The reason is that attack surface management tools automatically detect any potential data leakage points and system security loopholes using precise and deep vulnerability penetration testing algorithms.

ASM software uses these algorithms to analyze and manage a network’s external digital properties that store, transmit and access data. This helps identify loopholes that cybercriminals could exploit for malicious purposes that result in data breaches or other serious security incidents.

I will use Upguard as an example of reliable and effective ASM software. The software helps identify data assets, manages inventory, classifies these assets, continuously monitors potential security threats, and makes incident reports when it detects a malicious infiltration attempt.

Cybercriminals’ use of harmful or rogue assets is notorious in today’s dangerous landscape. These cyberattacks reveal private information, which is still accessible online, years after it was compromised. If left open, this information might later be used in an attack.

In order to find any leaked employee credentials before they are used to obtain illegal access to your firm, a complete attack surface management system searches the surface, deep, and dark web for known third-party data breaches. And this is exactly what Upguard does.

UpGuard’s active threat monitoring groups cybersecurity risks into six categories. These include website risks, email security, network security, phishing & malware, reputation risk, and brand protection.

It protects the entrances of both internal and external assets of a network. It has several integrations with numerous cloud-based applications to increase workflow effectiveness thanks to its secure API library.

It is able to rapidly assess your organization’s current security posture by identifying the process life cycles using Windows servers. It is also able to use IP address ranges, to find all web assets (including Internet of Things IoTs).

This results in an accelerated remediation process in case there is a potential vulnerability which is what makes UpGuard such a powerful force for preventing data loss.

3. Phone Monitoring Tools

Phone monitoring tools started off as a way for employers to evaluate employee performance and help supervisors keep track of personnel who are working remotely or outside the company’s network.

But now many organizations have realized their potential for data safety and so

the use of remote monitoring solutions by many firms to ensure proper data handling techniques is on the rise.

And as many software vendors have realized their potential for data safety, the industry is becoming more saturated. Many monitoring applications are available but only a select number are worthwhile to purchase and use at work.

Therefore, there is a strong need for accurate and dependable employee phone monitoring software, if you want to improve your cybersecurity practices which is why I will demonstrate using XNSPY.

The app improves network security while also enabling quick responses to complex threat scenarios without the need to devote time and resources to personnel training or upgrading existing security checkpoints.

In addition to blocking emails and apps that have not been pre-approved for installation and use, XNSPY enables managers to screen suspicious connections and communication channels that may steal data and it also shows how every employee can be monitored to ensure they are using the best data handling techniques.

The employee phone monitoring software assists managers in ensuring compliance. Employers can keep track of their staff members’ email communications, in-person meetings, and travel agenda through its various tracking tools.

These include a dedicated email tracker, text interceptor, and location tracker that work together to secure multiple channels of communication. End-to-end encryption can also be intercepted with the use of XNSPY’s instant messaging monitoring technology.

This prevents the disclosure of information related to the employee’s job and intellectual property on their personal social media accounts. The app also offers website blocking, which stops websites from downloading and running executable malware on the user’s device.

This goes to show that protecting employees’ personal devices is more crucial than ever because of how mobile they are and how dependent they are on third-party programs obtained from dubious sources, which increases their security risk of network breaches and data theft.

Use All 3 Strategies For Maximum Efficacy

I recommend you use all three strategies and implement them as soon as possible so your organizational data becomes safe, reliable, consistent, and foolproof. By incorporating these strategies in your business, you not only safeguard your network, but also increase reliability, and profit margins and prevent the loss of valuable resources like time and money.

IEMA IEMLabs
IEMA IEMLabshttps://iemlabs.com
IEMLabs is an ISO 27001:2013 and ISO 9001:2015 certified company, we are also a proud member of EC Council, NASSCOM, Data Security Council of India (DSCI), Indian Chamber of Commerce (ICC), U.S. Chamber of Commerce, and Confederation of Indian Industry (CII). The company was established in 2016 with a vision in mind to provide Cyber Security to the digital world and make them Hack Proof. The question is why are we suddenly talking about Cyber Security and all this stuff? With the development of technology, more and more companies are shifting their business to Digital World which is resulting in the increase in Cyber Crimes.
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