The Art of Data Loss Prevention

Data Loss Prevention, more commonly referred to as DLP, is a set of tools and strategies that protect sensitive information. For example, DLP is frequently utilized to avoid cyberattacks from external and internal sources. This paves the way for reinforced data security. Likewise, it’s also used to stop unauthorized employees from accessing or misusing data. So, in a way, DLP is a practice that strengthens a company’s data breach prevention and response.

DLP solutions are often strategized to assess and focus on data security risks in the business world. And more often than not, it’s also streamlined to ensure alignment with mandatory compliance such as GDPR, HIPAA, and PCI-DSS.

DLP solutions provide plenty of flexibility and perks, such as:

Filtering – reinforced data filtering process to hold and restrict malicious activities

Monitoring – better access and visibility for the person in charge of data and systems

Analysis – identification of suspicious activity, vulnerabilities, and inconsistencies within the system while providing forensic context

Reporting – compilation and assessment of reports that can be helpful for auditing and incident response

Common Data Breach Concerns

Employees fuel organizations. They can access private information without hassle, which could lead to data loss. Of course, regardless of whether it’s accidental or not. And today’s computer systems are particularly vulnerable because modern storage compartments could be accessed anywhere as long as there’s an Internet connection. Even those located in remote areas can access private information using cloud services.

Employees often carry laptops and mobile phones which contain sensitive and private data. Ironically, these devices are also susceptible to hacking and theft. As a result, it’s becoming harder and harder each day to secure data, making DLP a significantly important organization strategy.

Not having a strengthened DLP system within your business’ database could lead to unwanted sensitive data leaks like HIPAA-protected data, financial data, contact information, intellectual property, trade secrets, and social security numbers.

Why a DLP Strategy Will Be Good For Your Business

It’s not a surprise that the aftermath of a data breach is often catastrophic and could lead a company to bankruptcy. So to protect your business and your customers, let’s streamline the importance of a DLP strategy for your business:

1. Better Compliance With Standard Practices

As a business owner, it’s nothing new to hear about government-imposed standard practices like PCI-DSS, SOX, and HIPAA. These often mandate how organizations should run and secure private data gathered from their customers, including Personally Identifiable Information (PII). Imposing a DLP policy would be your first stepping stone towards better compliance.

2. Protection Against Cyberattacks

Cyberattacks are incredibly daunting because most hackers don’t care whether a business is huge or small — all companies are susceptible to being attacked. So it doesn’t matter if you’re just a local business or an international tycoon; implementing a DLP system is a crucial step. However, small businesses are more prone to attacks because hackers typically believe that these places don’t have long-term data security.

3. Safeguarding Essential Data Assets

As an organization, trading strategic proprietary information and intangible assets like business strategies and customer lists are crucial. However, you should still protect this information because losing some could damage your business, giving hackers and suspicious insiders a gateway to attack. 

However, you won’t need to worry because one of the benefits your business will enjoy under a DLP-ready system is the proper identification and protection of critical data assets.

4. Data Thieves Evolve And Learn New Ways To Hack

Whatever you want to call data thieves, hackers, or cybercriminals, it’s no surprise that they are everywhere. And as companies’ cybersecurity protection evolves, they do so alongside modern technology. As a result, they catch up to reinforced systems and access sensitive data. And what’s worse is that some of these hackers could be members of your organization, so it’s crucial only to allow trusted members with private information.

On the bright side, implementing a DLP strategy would help you dodge these threats. Plus, proper employee training on data procedures is also an essential aspect of preventing damage even before it takes place.

5. Transparency Within The Data Storage

Data visibility is an essential aspect of running a business. So, a DLP strategy would boost your ability to view data and its route without any hassle. With this, you can get a proper insight into how the company uses and runs data. By knowing that data exists, it’s location, and who can access it, your business would be able to protect sensitive information better.

The Takeaway

In conclusion, it’s vital to protect your company’s sensitive data against accidents and attacks. And one of the most effective methods is implementing an efficient multifaceted DLP strategy. Unfortunately, most businesses fail to realize that there is no “one-size-fits-all DLP strategy.” 

Instead, it requires a detailed understanding of your database and a comprehensive set of campaigns. If you need further assistance and information regarding jumpstarting your company’s DLP strategy, you may reach out to us at any time.