3 Reasons Data Loss Prevention is Necessary for Your Company
With the rising number of incidents relating to identity and data theft, organizations have a lot to deal with today. Malware, Phishing, Trojan, Ransomware, and similar cyber threats are becoming everyday nuisances bringing along devastating and long-term effects on the businesses.
Amidst such a chaotic scenario, data loss prevention (DLP) comes with a sigh of relief. It is a set of tools and processes deployed to ensure that any kind of sensitive data is not lost, misused, or accessed by unauthorized users. This is a strategy that is entirely dedicated to securing and preventing the illicit transfer of data.
Since there is always a risk of the data ending up in the wrong hands, whether sent through email, or website forms, DLP is there as a means of defense. Organizations use data loss prevention technologies for:
- Safeguarding customer’s personal information and complying with relevant regulations
- Protecting intellectual property, financial data or trade secrets
- Achieving data visibility
Today, many governments and industries have made DLP a requirement. Let us study the reasons as to why data loss prevention has become an absolute necessity for all companies:
Growing Outside Attacks
A company, irrespective of its size always has something to lose. Its product innovations and plans are what the competitors and other stakeholders are interested in. Thus, there are always possibilities of a security breach by external intruders leading to financial losses and reputational damage.
But, by having DLP technologies in place, you get a 360-degree view of the usage and flow of data and do every possible thing to protect it.
Not all data loss is a result of external attacks. A significant number of attacks involve insiders (high-ranking executives, managers, and other staff). Whether done with a purpose or happened as a result of accidental exposure, such attacks can get far more dangerous than attempted breaches from outside.
Insider threats are difficult to spot; hence, using DLP tools helps you detect files containing sensitive information and stop them from leaving via the network. It blocks all data transfers to USB drives and other removable media to guard your valuable files and documents.
Ineffective BYOD and IoT Policies
Implementing IoT tools and Bring Your Own Device (BYOD) choices among employees have undoubtedly helped thousands of industries to operate more efficiently, but the organizations that haven’t worked sensibly in deploying and maintaining these policies have ended up doing more harm than good.
In the process of sharing sensitive information through their mobile phones and tablets, they unintentionally end up exposing confidential data across all devices. However, with DLP, you can control the data in use or resting in storage, successfully reducing that risk.
It is worth noting that the internet is never safe enough. Every piece of data created, stored, used, and shared is vulnerable. That is why we recommend our readers to develop a habit of regular data back up and get in touch with professionals to retrieve the old data in case you lose it.