Data security is essential for building trust among consumers as the digital world is becoming more interconnected. Businesses that excel in this area have an advantage over competitors. Consumers expect that their companies will protect and secure their personal data. This article outlines ten essential principles that every business must know and follow to ensure the security of customer data.
Personal information is the most basic type of blog How Modern Data Room Providers Are Setting New Standards customer data. It includes any information that could be used to identify an individual. This includes names and phone numbers. However, there are more sensitive types of data which could have serious consequences if they fall into the wrong hands, such as the Social Security number or credit card number. Sensitive personal information (SPI) also includes ethnic or racial origins as well as sexual orientation and more.
SPI is a tool that can be used to commit identity theft, which poses an enormous threat to the customers’ personal and financial health. Hackers can use this data to obtain credit cards or loans in the name of the victim. This can result in devastating consequences.
To lessen the chance of data breaches, companies should restrict the amount of SPI they collect and only use it for legitimate purposes. They should also utilize encryption on their servers and in transit to ensure that the data can’t be read by hackers. They should also utilize two-factor authentication and tools for managing passwords to minimize the risk of data breaches due to compromised passwords.