Data Privacy & Cybersecurity » How to Secure Your Data and Render Cybersecurity Breaches Harmless

How to Secure Your Data and Render Cybersecurity Breaches Harmless

November 7, 2023

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The average cost of a data breach has surged to nearly $4.5 million globally, according to IBM’s latest Cost of a Data Breach Report. While data loss is an obvious consequence of a breach, the impact on profits and reputation can be longer-lasting and cause even greater damage to the business.

Now, imagine a future where breaches are harmless. In this scenario, the company’s data remains secure, and the fallout is minimal. But for this to happen, organizations would need to commit to a paradigm shift in their security strategy, according to Vishal Gupta in an article on DarkReading.com.

For years, security focused on building defenses around network perimeters. Then, with a more distributed workforce and a proliferation of remote computing devices, security has been built around individual devices.

The focus needs to change to building security around the data itself. This entails implementing security controls to accompany the data regardless of its location or how it is shared and stored.

By securing data outside the network perimeter, organizations can maintain control over their sensitive assets even when sharing information with third parties. This approach protects critical data and reduces the impact of potential future breaches.

Legal Ops and security professionals can take five key steps to reorient their cybersecurity strategy and reduce the impact of breaches:

  • Gain buy-in from the C-suite by explaining how this paradigm shift will lead to greater compliance and higher-level business values.
  • Identify and classify your most valuable data.
  • Develop policies that continuously protect your data.
  • Automate your data protection to avoid human error or oversights.
  • Solicit feedback and prioritize usability to encourage employees to comply with cybersecurity measures.

To mitigate the consequences of data breaches, organizations need to abandon outdated cybersecurity paradigms. The focus should be on building security around the data itself. Organizations can then bolster their security practices and render breaches inconsequential.

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